金融危机下香港联系汇率制面临的困境与可持续性分析  

Hong Kong's Linked Exchange Rate System in the Global Financial Crisis:Trouble,Feasibility and Reform Direction

作　　者：丁雪峰[1] 陈晞[1] 

机构地区：[1]厦门大学金融系

出　　处：《东南亚纵横》2009年第6期14-17,共4页Crossroads：Southeast Asian Studies

摘　　要：一、背景 面对全球金融危机，中国香港特区政府为稳定银行体系，2008年10月14日宣布运用外汇基金为香港所有持牌银行存户的存款提供保障；而市场普遍预期人民币将升值、港币将与人民币挂钩。受这两个因素影响，大量投资避险资金流人香港，迫使金融管理局连续干预市场，至11月12日总结余高达430．11亿港元，相比之下，2007年10月由于允许直接投资港股的政策刺激，金管局亦人市干预但当月结余也仅为106亿港元，可知香港联系汇率制正承受巨大压力。Hong Kong＇s linked exchange rate system is suffering the great press during the global financial crisis and the debate about whether linked exchange rate system is kept is concerned widely. The article first tells the reason why the linked exchange rate system is on the fire and then puts forward the viewpoint that Hong Kong should keep the linked exchange rate system, which derived from the demonstration from prospects of government credit, quit timing and the unfeasible of candidate reform drafts. The article ends up with suggestion of direction of future reform in the short, medium and long run respectively.

关 键 词：香港特区政府 联系汇率制 金融危机 持续性分析 银行体系 直接投资 金融管理局 外汇基金 

分 类 号：F552[经济管理—产业经济] F822.765.8