货币错配与经济金融稳定:来自亚太地区的经验

中国的汇率制度改革使得在钉住汇率制度下积聚的巨大货币错配风险逐渐暴露出来。货币错配是否会影响经济金融稳定,通过对亚洲金融危机、日本经济衰退以及本世纪以来亚洲新兴市场国家累积的新风险进行梳理、比较与分析,认为净外币负债型货币错配与净外币资产型货币错配在一定条件下都会影响经济金融稳定。

Currency Mismatch and Financial Stability:Experience from the Asian-Pacific Region

With China's exchange rate system reform,huge currency mismatch risk accumulated under the peg system has exposed gradually.Whether Currency mismatch would affect the economic and financial stability or not,this paper try to find the answer through comparing and analyzing the Asian financial crisis,Japan recession and Asian emerging market countries new risk since the 21st century.The conclusion is that net foreign currency debt mismatch and net foreign currency assets mismatch in certain conditions will af...