摘要
在总结区域货币合作基本理论的基础上,对亚洲货币合作可行性的研究表明:亚洲地区仅在某些方面符合构建最优货币区的基本条件,而在一些重要方面尚存有欠缺。此外,并非所有国家之间进行货币合作都具备条件。因此,亚洲尚不具备建立一个真正意义上、有制度保障、以汇率目标区为主体的货币合作机制的条件。现实的选择是,小型开放经济体可以根据各自的不同情况,选择最优合作伙伴,逐步推进次区域货币合作。
Traditional theory of monetary cooperation can be traced back to the theory of Optimum Currency Area pioneered by Robert Mundell and consists of ＂the theory of Optimum Currency Area＂, ＂the theory of One Market One Money＂, ＂the theory of ‘GG-LL’＂ and ＂the theory of some positive methods＂. According to all these theories, the demand for regional monetary cooperation is based on economic conditions including the level of economic interdependence, regional trade and capital flow, economic openness, factor mobility and the level of economic development. The degree of the integration of East Asian nations becomes higher and higher, as is mainly represented by the big amount of trade and capital flow, the high level of economic openness. When considering the factor mobility, the interdependence of financial market, the level of economic development, the economic structure and the likelihood of economic policy, we could find that there is still a long way to regional monetary cooperation in East Asia and such a conclusion is also supported by the OCAI test of East Asia. However, it is possible to establish some sub-regional monetary cooperation firstly. Furthermore, East Asia would be able to establish a Monetary Union like the EMU after a long-term hard working.
出处
《中国人民大学学报》
CSSCI
北大核心
2007年第5期69-76,共8页
Journal of Renmin University of China
基金
中国人民大学金融与证券研究所"亚洲金融一体化研究"课题研究成果之一
关键词
金融一体化
亚洲货币合作
最优货币区
可行性
financial integration
Asian monetary cooperation
optimal currency area
possibility
