日本外汇资金特别会计及财务报表评析  

Analysis on Japan's Foreign Exchange Fund Special Account and Financial Statement

作　　者：裴桂芬[1] 王岩峰[1] 

机构地区：[1]河北大学日本研究所,河北保定071002

出　　处：《河北大学学报（哲学社会科学版）》2014年第6期28-35,共8页Journal of Hebei University(Philosophy and Social Science)

摘　　要：金融危机后,在学术界普遍主张减持美国国债和中国政府时增时减的背景下,日本却稳定采取增持美国国债战略,日本外汇储备形成和管理机制、外汇资金特别会计的制度设计及其财务报表的特征有助于解释这一现象,研究发现日本外汇资金特别会计中投资收益的存在是日本政府不断增加外汇储备和投资美国国债的重要政策依据。首先分析日本外汇储备的形成及其管理机制,发现外汇资金特别会计在其中发挥着重要作用,其次分析日本外汇资金特别会计及财务报表状况,把握巨额投资收益形成的原因,最后分析日本外汇资金特别会计存在的问题及近年来的改革措施。After the financial crisis ,most researches proposed to reduce the holding of U .S .treasury se‐curities and Chinese government was affected by it to flexible policy ,increasing or decreasing the hold of U .S .treasury securities .However ,Japan adopts the strategy of stabilizing to increase the hold of U .S . treasury securities .We can explain this phenomenon based on the formation mechanism and manage‐ment of foreign exchange reserve and Japan＆#39;s Foreign Exchange Fund Special Account （FEFSA ） ,and reveal that the joyokin （excess revenue） from FEFSA was the major policy basis of it .This paper first analyzes the form and management mechanism of foreign exchange reserve in w hich FEFSA plays a sig‐nificant role in Japan .Secondly ,this paper analyzes FEFSA and its financial statement characteristics that cause the huge joyokin from holding U .S . treasure securities . Finally , this paper analyzes the problems in FEFSA and reform measures in recent years .

关 键 词：外汇储备 外汇资金特别会计 增持美国国债 

分 类 号：F830.92[经济管理—金融学]