近代东北货币交易与货币市场整合(1905~1931)  

Money Transactions and Money Market Integration in Northeast China in Modern Times

作　　者：李裕威 Li Yuwei

机构地区：[1]南昌大学经济管理学院

出　　处：《中国经济史评论》2024年第1期152-175,共24页China Economic History Review

基　　金：国家社科基金重大项目“近代中国金融市场发展与运行研究”(批准号:16ZDA133)阶段性成果;“上海财经大学中央高校基本科研业务费专项资金”;上海财经大学创新团队项目“中国经济转型发展的历史与思想研究”(2020110932)资助

摘　　要：本文基于东北货币流通和货币交易的特点,考察货币市场间的联系,探讨东北货币市场整合的形成机制。研究表明,东北地区银钱等金属货币较少使用,且政府时常限制运现,“银点套利”机制无法发挥作用。货币交易发达,尤其是期货交易盛行,使货币供求和价格信息传递快速,各地通过货币买进卖出,并与汇兑买卖相结合,套取利差,加强了货币市场间的联系。进一步分析大连、哈尔滨、安东、营口等城市的货币价格数据,结果表明各地货币价格高度相关,货币市场联系紧密。与此同时,日本对中国货币主权的破坏,进一步增加了货币市场整合难度。Based on the characteristics of currency circulation and currency transactions in Northeast China,this paper examines the connection between money markets and explores the formation mechanism of the integration of money markets in Northeast China.The study shows that metal currencies such as silver money are seldom used in Northeast China,and the government often restricts the transportation of cash,so the mechanism of“silver point arbitrage”can not work.Due to the developed currency transaction,especially the prevalence of futures trading,so that the currency supply and demand and price information transmission fast,through the currency buy and sell,and with the exchange trading,narrowing the price difference,and strengthened the link between the currency market.Further analysis of currency price data from Dalian,Harbin,Andong,Yingkou and other cities shows that currency prices are highly correlated across the region,and the currency market is closely linked.Meanwhile,Japan's undermining of China's monetary sovereignty further complicates the integration of currency market.

关 键 词：货币市场 货币交易 市场整合 近代东北 

分 类 号：F822.9[经济管理—财政学] K25[历史地理—历史学]