人民幣升值對(duì)人民幣國(guó)際化的影響分析
本文選題:人民幣升值 + 人民幣國(guó)際化; 參考:《河北經(jīng)貿(mào)大學(xué)》2014年碩士論文
【摘要】:中國(guó)作為正在崛起中的大國(guó),其主權(quán)貨幣——人民幣,近年來(lái)始終受到來(lái)自各方面的升值壓力。中國(guó)是否應(yīng)當(dāng)在人民幣升值的壓力下完成人民幣的國(guó)際化;人民幣升值對(duì)人民幣國(guó)際化將會(huì)產(chǎn)生哪些影響;升值中的人民幣國(guó)際化需要解決哪些問(wèn)題,采用怎樣的對(duì)策,這一系列問(wèn)題直接關(guān)系到中國(guó)經(jīng)濟(jì)發(fā)展、政治穩(wěn)定。 在理論基礎(chǔ)的闡述中,本文列舉了與人民幣國(guó)際化有關(guān)的5種理論,即國(guó)際化貨幣特征理論、利率平價(jià)理論、HO定理、資本管制理論和馬歇爾—勒納條件。 在第三部分中,本文回顧了美元國(guó)際化過(guò)程所經(jīng)歷的重大歷史事件,從中歸納出了美元國(guó)際化中關(guān)鍵的三方面措施——穩(wěn)定匯率、發(fā)展離岸金融、提升本國(guó)經(jīng)濟(jì)控制力。經(jīng)過(guò)進(jìn)一步的研究,把穩(wěn)定匯率當(dāng)作中心任務(wù),離岸金融與經(jīng)濟(jì)控制力當(dāng)作具體操作方法。在探討匯率穩(wěn)定與主權(quán)貨幣國(guó)際化間的矛盾時(shí),,本文分析了人民幣國(guó)際化相對(duì)美元國(guó)際化所面臨國(guó)際環(huán)境的不同,強(qiáng)調(diào)了人民幣升值壓力是人民幣國(guó)際化最顯著的優(yōu)勢(shì)條件。 人民幣升值除了在匯率上直接支持人民幣國(guó)際化,還有利于離岸金融市場(chǎng)的發(fā)展和中國(guó)經(jīng)濟(jì)控制力的提高。離岸金融市場(chǎng)發(fā)展的先決條件是人民幣被廣泛使用與接受,而人民幣升值能直接給接受人民幣支付、希望增加人民幣資產(chǎn)的個(gè)人、企業(yè)和國(guó)家以資產(chǎn)的增值的利益,對(duì)離岸金融市場(chǎng)發(fā)展起到了重要的推動(dòng)作用。單純靠“鄭和下西洋”、“番邦朝覲”式的賠本推動(dòng)人民幣國(guó)際化是不能長(zhǎng)久的,人民幣國(guó)際化的成敗最根本的決定因素還是中國(guó)的經(jīng)濟(jì)控制力。只有中國(guó)保持經(jīng)濟(jì)增長(zhǎng),充分參與以自己為核心的世界經(jīng)濟(jì)全球化分工才能保證人民幣的購(gòu)買(mǎi)力。人民幣升值可以緩解中國(guó)國(guó)內(nèi)的“國(guó)富民窮”、兩極分化,為中國(guó)更合理的世界投資布局解決后顧之憂,因此,人民幣升值在中國(guó)經(jīng)濟(jì)控制力方面也有助于人民幣國(guó)際化。 但是人民幣升值也對(duì)人民幣國(guó)際化有一定的負(fù)面作用,這主要體現(xiàn)在中國(guó)的開(kāi)放程度和經(jīng)濟(jì)穩(wěn)定上。升值影響了中國(guó)出口商品和服務(wù)的競(jìng)爭(zhēng)優(yōu)勢(shì),削弱了中國(guó)經(jīng)濟(jì)增長(zhǎng)的三駕馬車之一的外貿(mào)出口。升值的讓利也使國(guó)外投資者和投機(jī)分子更加想分享中國(guó)經(jīng)濟(jì)成長(zhǎng)的成果,這要求中國(guó)施行嚴(yán)格的資本管制,降低中國(guó)的開(kāi)放程度。從而最大限度降低人民幣升值的負(fù)面影響。 在第四部分,從經(jīng)濟(jì)學(xué)、金融學(xué)角度出發(fā),對(duì)人民幣升值在人民幣國(guó)際化方面的實(shí)際影響給出了圖示化的例證,證明了理論推導(dǎo)出的結(jié)果在現(xiàn)實(shí)條件下已經(jīng)有所應(yīng)驗(yàn)。 第五部分和第六部分中,本文針對(duì)人民幣升值對(duì)人民幣國(guó)際化的負(fù)面影響提出了解決問(wèn)題的政策建議,重申了本文的核心觀點(diǎn)——人民幣升值總體上有利于推動(dòng)人民幣國(guó)際化,其不利于人民幣國(guó)際化的方面可以通過(guò)協(xié)調(diào)人民幣升值與人民幣國(guó)際化的速度;交互發(fā)展人民幣匯率自由化和人民幣國(guó)際化來(lái)化解。
[Abstract]:As a big country in the rise , China ' s sovereign currency , the renminbi , has been under pressure in recent years from various aspects . Should China be able to complete the internationalization of the renminbi under the pressure of the yuan ' s appreciation ;
What is the impact of RMB appreciation on the internationalization of RMB ;
The internationalization of RMB in the appreciation of RMB needs to solve the problems and the countermeasures . The series of problems are directly related to China ' s economic development and political stability .
In the exposition of the theoretical foundation , this paper lists five theories related to RMB internationalization , namely , international monetary characteristic theory , interest rate parity theory , HO theorem , capital control theory and Marshall - Renner condition .
In the third part , this article reviews the major historical events experienced by the internationalization of the United States dollar , and sums up the key three measures _ stabilizing exchange rate in the internationalization of the United States dollar , the development of offshore finance and the promotion of domestic economic control . After further research , the stability of RMB is regarded as the central task , and the offshore financial and economic control force is regarded as the concrete operation method .
In addition to the direct support of RMB internationalization on the exchange rate , the appreciation of RMB is beneficial to the development of offshore financial markets and the improvement of China ' s economic control . The precondition for the development of offshore financial markets is that RMB is widely used and accepted , and the value appreciation of RMB can directly contribute to the development of offshore financial markets .
But RMB appreciation also has a certain negative effect on the internationalization of RMB , which is mainly reflected in China ' s openness and economic stability . The appreciation influences the competitive advantage of China ' s export commodities and services and weakens the export of one of the three carriages of China ' s economic growth . The value of appreciation also makes foreign investors and speculators more interested in sharing the fruits of China ' s economic growth , which requires China to implement strict capital controls and reduce China ' s openness .
In the fourth part , from the angle of economics and finance , the practical influence of RMB appreciation on the internationalization of RMB gives an example of illustration , which proves that the theoretical deduction has already been fulfilled under realistic conditions .
In the fifth part and the sixth part , this paper puts forward the policy suggestion of solving the problem based on the negative effect of RMB appreciation on RMB internationalization , and reiterates that the core idea of this paper is beneficial to the internationalization of RMB , which is not conducive to RMB internationalization .
Interactive development of RMB exchange rate liberalization and RMB internationalization .
【學(xué)位授予單位】:河北經(jīng)貿(mào)大學(xué)
【學(xué)位級(jí)別】:碩士
【學(xué)位授予年份】:2014
【分類號(hào)】:F832.6
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