本文選題：離岸人民幣 + 區(qū)域影響力��； 參考：《金融研究》2017年08期

【摘要】：人民幣離岸市場(chǎng)的建設(shè)與發(fā)展是推動(dòng)人民幣國(guó)際化的必經(jīng)之路。本文通過(guò)探討離岸人民幣與中國(guó)周邊國(guó)家(地區(qū))貨幣的溢出效應(yīng)及其時(shí)變特征來(lái)定量分析離岸人民幣的區(qū)域影響力,進(jìn)而給人民幣國(guó)際影響力的發(fā)揮提供借鑒。實(shí)證結(jié)果表明:(1)離岸人民幣已經(jīng)具備了區(qū)域性影響力,并且較在岸人民幣的影響程度更高;(2)新加坡元、新臺(tái)幣和韓元等對(duì)離岸人民幣的溢出效應(yīng)均較強(qiáng),也就是說(shuō)離岸人民幣尚不能稱得上是區(qū)域性的錨貨幣。相關(guān)結(jié)果為發(fā)展香港離岸人民幣市場(chǎng)、完善匯率形成機(jī)制以及協(xié)調(diào)中國(guó)對(duì)周邊國(guó)家(地區(qū))經(jīng)濟(jì)政治政策提供政策依據(jù)。
[Abstract]:The construction and development of the RMB offshore market is the only way to promote the internationalization of RMB. This paper makes a quantitative analysis of the regional influence of the offshore RMB by discussing the spillover effect of the offshore RMB and its surrounding countries (regions) and its time-varying characteristics, and then provides a reference for the international influence of the people's currency. The results are as follows: (1) the offshore RMB has a regional influence and has a higher influence than the shore RMB; (2) the spillover effect of the Singapore yuan, the new Taiwan dollar and the Korean dollar on the offshore RMB is stronger, that is to say, the offshore RMB can not be called the regional anchor currency. The related result is the development of the offshore RMB in Hongkong. Market, improve the exchange rate formation mechanism and coordinate China's economic and political policy for neighboring countries (regions).
【作者單位】： 中央財(cái)經(jīng)大學(xué)金融學(xué)院;北京航空航天大學(xué)經(jīng)濟(jì)管理學(xué)院;
【基金】：國(guó)家自然科學(xué)基金面上項(xiàng)目(71671193) 中央高校基本科研業(yè)務(wù)費(fèi)專項(xiàng)基金 中央財(cái)經(jīng)大學(xué)青年科研創(chuàng)新團(tuán)隊(duì)支持計(jì)劃項(xiàng)目資助
【分類號(hào)】：F832.6

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本文編號(hào)：1914415