论国际货币清算规则下的本币金融开放  

The Financial Opening of Domestic Currency under the Rules of International Currency Clearing

作　　者：施琍娅 

机构地区：[1]上海市金融学会,上海200120

出　　处：《上海金融》2011年第10期5-8,共4页Shanghai Finance

摘　　要：与目前社会上普遍存在的认知不同,本文认为我国的金融对外开放早已启动,只不过是以外币开放的形式进行。根据货币的国际清算规则,这种以外币主导的金融开放,其结果只是使国内涉外领域中的货币错配现象日趋严重,迄今为止,也还没有任何一个发展中国家能够在外币主导的金融对外开放中获得成功。而以人民币开展跨境贸易结算所带来的本币金融对外开放则有实质性的不同,依据目前跨境贸易人民币结算的两种清算模式,人民币的对外开放,不仅降低了开放难度和货币错配风险,且对外风险可控,有利于金融市场自然形成对外开放和金融服务水平的提高。Unlike the popular recognition, the article maintains that China has already embarked on its financial opening, in the form of opening of foreign currency. According to the rules of international currency cleating, such financial opening predominated by foreign currency could only lead to a severe currency mismatch in various fields. Up till now, not a single developing country has achieved success in the financial opening predominated by foreign currency. However, the financial opening of domestic currency brought by RMB cross-border trade settlement is substantially different from that. Given the current two cleating patterns in RMB cross-border trade settlement, the opening of RMB not only lowered the difficulty in financial opening and reduced risks of currency mismatch, but also made risks controllable, thus promoted the spontaneous financial opening of financial market and improved the level of financial services.

关 键 词：货币国际清算规则 跨境贸易结算 本币 外币 主导 金融开放 货币错配 

分 类 号：F832.6[经济管理—金融学]