基于资本流动的人民币汇率博弈分析

影响人民币汇率的因素有很多,资本流动对人民币汇率的变动具有很大的影响。资本所有者为追逐利润最大化进行博弈,资本总会流向资本收益率高的一国。仅从资本流动考虑,当资本流向我国时,人民币有升值的压力;当资本流向外国时,人民币有贬值的压力。

Game Analysis of the Renminbi Exchange Rate Based on Capital Flow

Many factors affects Renminbi exchange rate,and capital flow has a great influence to it.In order to get maximal profits,the owners of Chinese and foreign capitals execute games,and capitals always flow to the country that has the highest capital yield.When capitals flow into China,Renminbi meets the pressure to appreciate;on the other hand,when the capitals flow out of China,Renminbi meet the pressure to depreciate.