资本流动脆弱性与我国的基本状况分析  

Analysis on Capital flows and the vulnerability of China’s Basic Situation

作　　者：符亚明[1] 吴勤学[1] 许德才[1] 

机构地区：[1]北京联合大学商务学院,北京100021

出　　处：《生态经济》2008年第12期57-60,共4页Ecological Economy

基　　金：北京社科基金(编号:06BaJG121)

摘　　要：近年来,由于世界各国进一步推进货币可兑换,跨境资本流动日趋频繁,规模越来越大,复杂程度进一步提高。大规模的资本流动在满足投资需求的同时,也使得宏观经济和金融体系内部的脆弱性变得更为突出。文章在整理历年数据资料的基础上,以我国资本账户开放程度和人民币升贬值压力为前提,从国际收支平衡表、利用外资和外债三个资本流动脆弱性最敏感的视角展开研究,并提出相应建议。In the new, more integrated environment, however, capital could potentially flow out as well as in. Key challenges facing newly financially integrated countries concern not just how to manage large inflows, but also how to reduce vulnerability to the potentially disruptive effects of sudden and massive capital outflows. On the basis of previous year＇s data, the paper selects three sensitive angles to study capital flow vulnerability： international balance of payment, FDI and external debt. The opening degree of China capital account and the pressure of RMB appreciation or depreciation, it inspects China capital control efficiency then capital flow vulnerability through the international balance of payment. Through the angle of FDI and external debt it discussed the root of capital flow vulnerability. Finally, the paper made a number of recommendations.

关 键 词：资本流动 脆弱性 贸易信贷 直接投资 

分 类 号：F831.6[经济管理—金融学] F830.2