自主还是不自主——发展中国家与外汇储备  

Autonomy or Non-autonomy:Developing Countries and Foreign Exchange Reserves

作　　者：严荣[1] 

机构地区：[1]上海行政学院,上海200233

出　　处：《上海行政学院学报》2009年第6期80-91,共12页The Journal of Shanghai Administration Institute

摘　　要：发展中国家积累巨额外汇储备已经成为当前国际金融体系的重要特征,尤其是包括中国在内的亚洲国家。针对这种现象,既有操纵之说,也有阴谋论的解释。本文认为,这种现象源于发展中国家在国际金融体系中面临一种"自主的悖论",即发展中国家需要通过积累外汇储备以追求经济自主,但是当外储积累到一定程度,其过程就难以逆转,即便背负巨大的成本,这些国家也不得不与美国共同维护美元的国际通货地位。A very important character of current international financial system is developing countries cumulated huge foreign exchange reserves, especially East Asian countries, including China. As for it, there are theories of manipulation and conspiracy. This paper argues that developing countries face a dilemma of autonomy, on the one hand, developing countries need to cumulate foreign exchange reserves in pursuit of economic autonomy, on the other hand, it＇s hard for these countries to reverse the process, even bear huge cost of excessive foreign exchange reserves.

关 键 词：自主 发展中国家 外汇储备 

分 类 号：F830[经济管理—金融学]