中国的超额外汇储备:基于BP账户的实证分析  

China's Excess Foreign Exchange Reserves:An Empirical Analysis Based on BP Accounts

作　　者：薛妍妍[1] 王三兴[1] 

机构地区：[1]安徽大学经济学院,安徽合肥230039

出　　处：《安徽警官职业学院学报》2014年第1期118-124,共7页Journal of Anhui Vocational College of Police Officers

基　　金：国家社科基金项目"中国超额外汇储备成因;效应与管理研究"(11BJL044)的阶段性研究成果;安徽大学科研训练计划项目"中国外汇储备的适度规模与宏观政策效应"(KYXL2012092)的阶段性研究成果

摘　　要：对中国超额外汇储备成因的解释主要有重商主义和预防性动机两种观点。重商主义与经常帐户差额和债权性储备,预防性动机与资本帐户差额和债务性储备存在内在联系。从国际收支表中经常帐户和资本帐户名义差额对外汇储备增量贡献上看,重商主义和预防性动机交替发挥主要作用,对外汇储备存量的累积贡献上看重商主义成为主要因素。两个帐户的实际差额对外汇储备的增量和存量贡献则都表明重商主义是我国超额外汇储备的主要成因。Two major views concerning the causes of China＇s excess foreign exchange reserves are mercantilism and precautionary motives. Mercantilism is related to the current account balance and debt reserves, while the precautionary motive relates to capital account balance and debt reserves. In terms of the incremental contribution to foreign exchange reserves by the nominal difference of current account and capital account in international payments tables, mercantilism and precautionary motives play a major role alternately. In terms of accumulation contribution to foreign exchange reserves, mercantilism is the major factor. The incremental and accumulation contributions to foreign exchange reserves by the actual difference between the two accounts show that mercantilism is the main cause of China＇s excess foreign exchange reserves.

关 键 词：超额外汇储备 经常帐户 资本帐户 

分 类 号：F123.16[经济管理—世界经济]