本文選題：外匯儲備　切入點(diǎn)：外匯儲備管理　出處：《天津財(cái)經(jīng)大學(xué)》2013年碩士論文　論文類型：學(xué)位論文

【摘要】：在經(jīng)歷了1997年亞洲金融危機(jī)以后,我國政府強(qiáng)化了增加外匯儲備以預(yù)防金融危機(jī)的意識。因此,預(yù)防性需求催生了我國外匯儲備的瘋狂增長。在不到十年間,2006年我國外匯儲備額超過日本,位列世界第一至今。充足的外匯儲備在給我國帶來各種好處的同時(shí),一系列弊端也逐漸顯現(xiàn)：強(qiáng)制結(jié)售匯制度迫使央行為維持匯率穩(wěn)定,在外匯市場購入美元,同時(shí)放出人民幣,我國基礎(chǔ)貨幣量進(jìn)而等額增加,加劇通貨膨脹壓力；外匯儲備高速增長造成人民幣升值壓力,不利于出口；央行為了控制通貨膨脹,采取各種外匯沖銷措施,減少貨幣供應(yīng)總量,導(dǎo)致貨幣政策獨(dú)立性受影響等。此外,由于美元在我國外匯儲備中占比較大,而美元匯率相對人民幣走低以及美債的低收益率,導(dǎo)致我國外匯儲備面臨甚至已經(jīng)遭受巨大損失。鑒于此,國內(nèi)許多專家學(xué)者在基于國情的基礎(chǔ)上,借鑒國外外匯儲備管理經(jīng)驗(yàn),為我國外匯儲備的管理提出了許多有價(jià)值的對策建議。 文章在充分學(xué)習(xí)借鑒前人經(jīng)驗(yàn)成果的基礎(chǔ)上,從兩個(gè)方面對我國外匯儲備管理進(jìn)行研究：規(guī)模管理和結(jié)構(gòu)管理。規(guī)模管理是從我國外匯儲備的主要來源出發(fā),分析各個(gè)來源產(chǎn)生的原因、現(xiàn)狀以及對我國外匯儲備的影響；結(jié)構(gòu)管理則是從我國外匯儲備的保值增值方面即投資獲利入手,通過比較論述當(dāng)前國際上一些在外匯儲備管理方面比較成功的國家的經(jīng)驗(yàn),結(jié)合我國實(shí)際情況,綜合分析了國內(nèi)外研究的優(yōu)缺點(diǎn)。得出的結(jié)論是：目前我國在管理外匯儲備問題上,僅從表面上在經(jīng)濟(jì)全球化的不確定性下試圖得到一個(gè)確定的規(guī)模和結(jié)構(gòu)并沒有充分的合理性,不利于我國經(jīng)濟(jì)的長期發(fā)展。而解決影響我國外匯儲備的深層次因素如拉動內(nèi)需、激發(fā)企業(yè)創(chuàng)造力以及培養(yǎng)高素質(zhì)人才是根本解決之道。
[Abstract]:After the Asian financial crisis in 1997, our government strengthened the awareness of increasing foreign exchange reserves to prevent financial crisis. In less than a decade, in 2006, China's foreign exchange reserves exceeded Japan's, ranking first in the world so far. Adequate foreign exchange reserves bring all kinds of benefits to our country at the same time. A series of malpractices also gradually appeared: the compulsory settlement and sale of foreign exchange system forced the central bank to buy US dollars in the foreign exchange market and release RMB in order to maintain the stability of exchange rate. The rapid growth of foreign exchange reserves has led to the pressure of RMB appreciation, which is not conducive to exports. In order to control inflation, the central bank has taken various measures to sterilize foreign exchange to reduce the total amount of money supply, thus affecting the independence of monetary policy, and so on. Because the US dollar accounts for a large part of our foreign exchange reserves, and the dollar exchange rate is lower relative to the RMB and the low yield of US bonds causes our foreign exchange reserves to face or even suffer huge losses. In view of this, On the basis of national conditions, many domestic experts and scholars have put forward many valuable countermeasures and suggestions for the management of foreign exchange reserves based on the experience of foreign exchange reserve management. On the basis of studying and drawing lessons from previous experiences, this paper studies the management of foreign exchange reserves in China from two aspects: scale management and structural management. Scale management is the main source of foreign exchange reserves in China. This paper analyzes the causes, the present situation and the influence on China's foreign exchange reserves, and the structural management begins with the value preservation and increment of China's foreign exchange reserves, that is, the profit from investment. By comparing and discussing the experiences of some countries that have been successful in the management of foreign exchange reserves in the world at present, and combining with the actual situation of our country, This paper comprehensively analyzes the advantages and disadvantages of domestic and foreign studies, and draws the conclusion that: at present, in the management of foreign exchange reserves in China, Just trying to get a definite scale and structure under the uncertainty of economic globalization on the surface is not reasonable enough, which is not conducive to the long-term development of China's economy, and the solution to the deep-seated factors affecting China's foreign exchange reserves, such as stimulating domestic demand, is not conducive to the long-term development of China's economy. The fundamental solution is to stimulate enterprise creativity and cultivate high-quality talents.
【學(xué)位授予單位】：天津財(cái)經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F832.6

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