摘要
本文论证了中国现存汇率决定机制事实上是一种与美元挂钩的固定汇率制 ,并分析了该汇率制度设计无论是现在还是在中国金融进一步开放的背景下都有若干的缺陷 ,存在着汇率制度重新选择的问题。然而 ,在中国金融进一步开放中 ,选择浮动汇率制又受到众多的硬性约束 ,实践中难以发挥理论上浮动汇率的优点。故逻辑地推论出
China′s present exchange regime is in fact a US dollar-pegged exchange rate regime,which is the problematic both in present situation and in the milieu of financial market′s further opening-up,then arouses the question of the regime′s reorientation.However,in the process of the further opening-up of China′s financial market,there are rigid restrictions for the choice of floating exchange rate,so that the advantages that exist theoretically under floating exchange rate regime have few effects in practice.Therefore,the logical conclusion is that the reorientation of exchange rate regime should be that between fixed exchange rate and floating exchange rate.
出处
《金融研究》
CSSCI
北大核心
2000年第7期52-61,共10页
Journal of Financial Research
关键词
汇率
汇率制度
中国
金融业
对外开放
Exchange Rate
Exchange Rate Regime
The Further Opening-up of China′s Finance
