贸易协定深度如何影响货币国际化?--理论分析与渠道检验  

How Does the Depth of Trade Agreements Affect Currency Internationalization?--Theoretical Analysis and Channel Testing

作　　者：钱宗鑫[1,2,3] 李越秋 郭一鸣 石慧敏[4] QIAN Zong-xin;LI Yue-qiu;GUO Yi-ming;SHI Hui-min

机构地区：[1]中国人民大学财政金融政策研究中心 [2]中国人民大学财政金融学院 [3]中国人民大学国家金融研究院 [4]中国人民大学经济学院

出　　处：《现代金融研究》2025年第2期3-22,共20页Journal of modern finance

基　　金：教育部人文社会科学重点研究基地重大项目“分工结构与金融风险防范研究”(22JD790084);国家自然科学基金青年项目“非关税贸易壁垒对全球价值链的影响--基于国家—行业细分贸易附加值数据的研究”(71903188)的资助。

摘　　要：本文基于2001-2019年52个国家和地区的数据,实证研究贸易协定深度对货币国际化的影响。研究发现,货币发行国与他国间贸易协定的深化显著提升了该国货币在合作伙伴国的使用程度,加速了货币国际化进程。主要原因是,经贸合作网络的拓展和深化直接增加了货币需求,扩大了货币使用范围,并通过增强金融市场的稳定性间接提高了市场参与者对该货币的信心。以此为背景,中国参与的自由贸易协定的深化为人民币国际化的有序推进提供了重要契机。The legal construction of foreign-related regulation in the banking industry is an important component of China’s financial rule of law and foreign-related rule of law.This paper focuses on the historical evolution,valuable experience and practical challenges of the legal construction of foreign-related regulation in China’s banking industry from the perspectives of theoretical logic,historic logic and policies’logic.The paper also proposes targeted countermeasures and suggestions in areas such as perfecting the foreign-related legal system of financial regulation,optimizing institutional mechanisms,coordinating the construction of foreign-related financial regulatory rule of law and high-level financial opening-up,improving anti-sanction laws and regulations,enhancing alignment with international financial regulation standards.These suggestions aim to provide theoretical and policy support for the construction of foreign-related financial regulatory laws in China’s banking industry,and the coordination of high-level financial opening-up,financial risk prevention and high-quality financial development.

关 键 词：贸易协定深度 货币国际化 贸易投资一体化 金融稳定 

分 类 号：F31[经济管理—产业经济]