摘要
波兰的经济改革以"休克疗法"闻名于世,但作为其经济改革的重要组成部分,波兰的汇率市场化改革和资本项目可兑换却分别采取了"主动渐进"和"积极审慎"模式。其中,波兰的汇率市场化经历了"单一钉住美元→钉住一篮子货币→爬行钉住一篮子货币→爬行钉住一篮子货币+区间浮动→完全自由浮动"等几乎所有类型的汇率制度安排,资本项目可兑换坚持了"先流入、后流出,先长期、后短期"的顺序。波兰的每一次汇率改革和资本市场开放都顺应了当时国际、国内经济形势变化,解决了当时国民经济中面临的困难。波兰的实践表明,在经济改革的最终目标和基本原则确定之后,渐进与休克是能够兼容的。
Poland has been renounced for its ＂shock treatment＂ in economic reform, in which the reform of free exchange rate has adopted a progressive way while the capital account convertibility reform resorts to a cautious mode. In fact, Poland has undergone almost all the types of exchange rate, going from simply pegging to the US dollar all the way up to a complete floating, and the capital account reform has been following the rule of ＂capital flow in first and out second; Priority in the long run first and short term second＂ . With concerns of current situations home and abroad, all these reforms share the final goal to tackle the real problems facing Poland. The successful experience in Poland indicates that the progressive therapy and shock treatment are indeed compatible.
出处
《南方金融》
北大核心
2013年第7期43-47,共5页
South China Finance
关键词
汇率市场化
资本项目可兑换
渐进模式
休克疗法
波兰
Exchange Rate Marketization
Capital Account Convertibility
Progressive Therapy
Shock Treatment
Poland
