资本账户开放对人民币国际化的非线性影响--基于金融市场发展视角  

The Nonlinear Impact of Capital Account Opening on the Internationalization of RMB——Based on the Perspective of Financial Market Development

作　　者：马欣薇 Ma Xinwei(Institute of Economics,Xinjiang Academy of Social Sciences,Urumqi 830011)

机构地区：[1]新疆社会科学院经济研究所,乌鲁木齐830011

出　　处：《北方经贸》2024年第8期105-110,共6页Northern Economy and Trade

摘　　要：党的二十大报告提出,要“有序推进人民币国际化”。在此背景下,现选取人民币、美元、欧元、日元、英镑共五种国际货币1999年-2021年的相关数据,基于金融市场发展视角研究资本账户开放对人民币国际化的非线性影响。研究发现,当金融市场处于不同发展阶段时,资本账户开放会对人民币国际化产生非线性的双门槛效应。对此,本研究提出审慎放松资本账户管制,提升金融市场发展水平和健全金融市场风险防控机制等政策建议。This article selects relevant data from five international currencies,namely RMB,USD,EUR,JPY,and GBP,from 1999 to 2021,and studies the nonlinear impact of capital account opening on RMB internationalization from the perspective of financial market development.Research has found that when financial markets are at different stages of development,the opening of capital accounts will have a non-linear dual threshold effect on the internationalization of the renminbi.This article proposes policy recommendations such as prudently relaxing capital account controls,improving the level of financial market development,and improving financial market risk prevention and control mechanisms.

关 键 词：资本账户开放 人民币国际化 金融市场发展 

分 类 号：F830[经济管理—金融学]