摘要
金融自由化对发展中国家是一把"双刃剑",它在为发展中国家带来了好处的同时,也引发了很多负效应。原因在于发展中国家对金融自由化普遍缺乏足够的准备而仓促实施改革,国内金融制度与监管体系不健全,而金融市场过度开放又导致国际短期资本大量涌入。与发展中国家不同的是,发达国家的金融自由化改革却取得了较好的成效。与之相比,发展中国家目前处于两难的选择困境:如果不继续进行自由化,则在国际经济舞台上会更被动;如果进行自由化,却又由于前期的改革失败而无法准确把握好今后的战略措施。对此,发展中国家惟一正确的选择应当是结合国情,坚决地顺着金融自由化的方向走下去,不改革是没有出路的。
For developing countries, financial liberalization is a double-edged sword, because it provides those countries with so many benefits as well as negative impulses. This situation results from the fact that usually in lack of the sufficient preparation, developing countries rush to execute the reform. Without the sound financial rule and regulation system, their capital markets were over-opened, which attracted the inflow of international short-term capital in great magnitude. On the contrary, the financial liberalization reform in developed countries got excellent achievements. The situation makes developing countries in a dilemma： if furthering the liberalization, due to the previous failure, they cannot accurately choose the strategic measures in the future; if not, they will be more passive on the international economy stage. Therefore, the sole correct choice for developing countries is to firmly execute the financial liberalization according to their national conditions, because there is no opportunity without reform.
出处
《金融论坛》
CSSCI
北大核心
2007年第9期10-16,共7页
Finance Forum
关键词
金融自由化
M—S理论
金融抑制
financial liberalization
M-S theory
financial depression
