国际货币金融合作机制对东亚的启示

东亚货币金融合作在东亚外汇储备库建立以后进入了一十新的发展阶段也将面临新的挑战,以后的发展依然任重道远.本文试图通过考察世界上其他几个主要的区域货币金融合作机制,并与东亚的区域合作进行比较,为我们认识和完善东亚货币金融合作机制提供一定的借鉴.     

国际货币金融合作机制对东亚的启示

东亚货币金融合作在东亚外汇储备库建立以后进入了一个新的发展阶段也将面临新的挑战,以后的发展依然任重道远。本文试图通过考察世界上其他几个主要的区域货币金融合作机制,并与东亚的区域合作进行比较,为我们认识和完善东亚货币金融合作机制提供一定的借鉴。     

东亚货币合作及中国的战略安排

一、东亚货币合作的现状 东亚金融危机前，东亚地区的贸易和投资合作取得了相当大的进展，但在货币和货币金融合作方面却是一片空白。随着区域内经济相互依赖性的不断加强，为克服由货币和金融危机产生的困难，在一些区域经济体内部形成了一些共识，即实现持续的经济增长所需要的经济和金融系统的稳定发展离不开区域的协调。可以预期，东亚各国将会不断地巩固已经取得的合作成果，建立彼此之间的信任和协作关系，并推动东亚货币合作走向新阶段。     

东亚货币一体化合作基础研究

随着欧元成功实施和拉美国际美元化呼声的提高,东亚货币合作问题一时间成为学术界竞相研究的热点。本文基于最优货币区理论对东亚货币一体化的可行性问题进行了深入探讨,并指出东亚货币一体化的障碍。     

东亚货币合作的对策研究

作为东亚地区日益崛起的经济大国,中国与东亚地区其他经济体之间的经济联系越来越紧密,对东亚地区经济发展的影响越来越大。因此,不论是从自身利益出发还是从地区稳定来看,中国有责任也有义务发挥大国的领头作用,积极参与到东亚货币合作中来,使东亚货币合作能够朝着既利于中国也利于其他经济体的方向发展。     

浅谈东亚金融合作

随着东亚经济在世界经济舞台的地位重要性的提高，东亚各国的目前的合作形式已逐渐不适合经济、社会发展的需要。通过分析东亚金融合作的理论基础、东亚金融合作的形式和加深东亚金融合作的困难与中国起的作用，得出目前东亚金融合作的困难和好处皆有，要积极发挥中．日、韩应有的作用，共同推进东亚金融合作。     

论东亚金融合作升级的可行性及必要性

作者首先介绍了金融合作升级的方式,接着对东亚金融合作升级的可行性与必要性进行了阐述与论证。     

东亚货币一体化研究

20世纪以来，各个国家在激烈的国际竞争中也逐步认识到以区域性的合作组织参加国际经济的竞争更符合单个国家的政治经济等多方面的利益。该文主要介绍货币一体化的理论基础，从必要性方面说明东亚货币一体化是解决东亚国家困境的一种有效的途径，最后给出了进一步推进东亚货币一体化的对策建议。     

东亚国家贸易合作及其影响

东亚金融危机以后,东亚国家贸易合作的步伐开始加快,但其合作程度仍然落后于欧盟及北美自由贸易区。本文针对东亚地区贸易合作的现状,对在东亚建立“10+3”自由贸易区的基础及影响进行分析。在东亚地区,只有建立“10+3”自由贸易区才更加有利于东亚国家福利水平的提高。     

亚洲货币合作方式及前景探讨

自亚洲金融危机之后，从提高金融风险抵御力的角度，亚洲各国各地区加快了货币合作的步伐，但在目前的国际金融环境和国际货币体系下，实行亚洲区域货币合作仍有诸多限制条件。针对这一问题，本文从亚洲货币合作的内容、方式及合作前景等方面进行了探讨，并提出我国在合作中的地位及应该发挥的作用。     

东亚区域经济合作:经济全球化加速发展的结果

经济全球化与区域经济一体化是当代世界经济发展的两个主要特点。随着世界经济总量的扩大,各国、各地区经济资源配置不断突破国界限制,在全球范围内寻求最优的配置方式和配置效率,世界各国、各地区经济之间的相互依存、相互融合、相互影响和相互制约达到更高的水平。在世界经济全球化加速发展的同时,以地区经济一体化为标志的区域经济合作出现了良好的发展势头。区域经济一体化表现为越来越多的国家加入区域自由贸易协定,通过区域内的国际分工寻求扩大经济合作,提升经济增长潜力。近年来东亚地区经济合作的发展格外引人注目,“10+3”模式与“10+1”模式的出现,标志着东亚地区经济合作开始步入体制化发展的新阶段。中国应积极参加区域经济一体化。     

China Speeds up Regional Monetary Cooperation

For Asian countries which were given a hard by the financial crisis in late 1990s, it is now critically important for them to work with each other in fighting the economic recession and export slump. China, a big country in Asia, is now taking the opportunity to advocate regional monetary cooperation, increasing the amount of Chinese yuan held by other Asian countries.     

Integrating Financial Stability into Monetary Policy

The global financial crisis has highlighted the importance of integrating financial stability concerns into monetary policy. In the Bank of Canada’s view, monetary policy should be the last line of defence against threats to financial stability, behind the joint responsibility of borrowers and lenders, appropriate regulatory oversight, and sound macroprudential policies. Still, it is critical to understand the interlinkages between monetary policy and financial stability, given that the objectives are not always consistent. This implies the necessity of trade-offs. At the Bank of Canada, this is regarded as a problem of risk management rather than policy optimization. That is why the Bank operates a risk-management approach to monetary policy—keeping inflation control as its primary mission.     

Financial Stability and the Hemianopsia of Monetary Policy

Financial stability concerns cannot be separated from macroeconomic objectives of monetary policy. Stimulative monetary policy works by creating financial conditions that could lead to instability in markets that could, in turn, engender deflationary pressures. Although the Federal Reserve Act does not explicitly mention financial stability as an FOMC objective, it is fundamentally bound together with the achievement of the explicit goals of maximum employment and price stability.     

Monetary,Financial and Fiscal Stability in the East African Community: Ready for a Monetary Union?

We examine prospects for a monetary union in the East African Community (EAC) by developing a stylised model of policymakers' decision problem that allows for uncertain benefits derived from monetary, financial and fiscal stability and then calibrating the model for the EAC for the period 2003–10. When policymakers properly allow for uncertainty, none of the countries wants to pursue a monetary union based on either monetary or financial stability grounds, and only Rwanda might favour it on fiscal stability grounds; we argue that robust institutional arrangements assuring substantial improvements in monetary, financial and fiscal stability are needed to compensate.     

Monetary Policy and Financial Inclusion in Sub-Sahara Africa: A Panel VAR Approach

ABSTRACT

This article investigates the dynamic and bi-causal link between monetary policy and financial inclusion in sub-Saharan Africa using a panel VAR framework. The researcher obtained data from World Development Indicators (WDI) spanning from 1990 to 2014 for 48 sub-Saharan African economies. The findings suggest that a bi-causal relationship exists between monetary policy and financial inclusion. Specifically, it is evident that monetary policy affects financial inclusion, and financial inclusion is also influenced by monetary policy. The policy implication of this study is that the effectiveness of monetary policy depends on financial inclusion. Hence, the efforts of governments in sub-Saharan African countries should aim at policies that enhance financial inclusion for effective implementation of monetary policy. Also, promoting financial inclusion will require governments in sub-Saharan Africa to reduce their monetary policy rates.     

为什么东亚经济容易受伤害?

二战之后,东亚经济逐渐崛起,一度被人们惊呼为东亚奇迹,有人甚至预言,21世纪将是"亚洲的世纪",但经过1 997年的亚洲金融危机的洗劫,以及2001年世界经济"衰退性增长"的冲击,东亚的金融和经济看来都已十分脆弱.目前日本经济每况愈下,东京股市创1 8年来新低,银行坏账陡增50%,经济增长缩水3%,保罗.克鲁格曼已经再度预言日本"将遭受大危机!"而新加坡,台湾等经济体,则陷入了经济衰退,香港和韩国的经济也不见起色.屡次危机屡次受伤,东亚经济为什么如此脆弱?