结算货币选择理论研究评述

国际交易媒介职能的发展关乎一国货币的国际化进展程度，该职能的微观市场表现即为国际贸易中企业结算货币的选择。基于此，本文对20世纪70年代发展至今的结算货币选择理论的研究进行了仔细梳理和阐释。伴随着欧元的发展，对该理论的研究经历了从纯理论到理论和实证相结合、从微观和宏观层面的独立研究到宏微观相结合的发展历程。在新开放经济宏观经济学视角下，企业结算货币选择模型将企业结算货币的选择从微观经济学层面转变为宏观经济领域的重要研究变量。文章最后，本文依托于相关理论并结合大量贸易数据，提出制约人民币国际交易媒介职能发展的重要因素即是我国出口产品差异化程度过低，企业缺乏竞争力。

LITERATURE REVIEW ON THE CURRENCY DENOMINATION OF INTERNATIONAL TRADE

The development of a currencys media of exchange function is closely related with its internationalization degreeThis functions micro market performance is the choice of currency denomination of international tradeHereby, this paper aims at analyzing and interpreting the development of currency denomination theory since 1970sAlong with the emerge of the Euro, the research on this field has experienced a process from pure theoretical analysis to theory and empirical analysis combined together, from macro and micro research did respectively to combining these two aspectsEspecially with the development of new open economy macroeconomics, researches on enterprises settlement currency choice have expanded to a significant variable in macroeconomic researchFinally, relying on these theoretical researches, this paper posed that lower product differentiation and lacking of enterprises competition are the most important factors constraining RMBs international media of exchange function