汇率制度选择理论的形成和发展历史回顾

文章对汇率制度理论的形成和发展做了较为详尽的历史回顾。结果发现，人们对汇率制度理论的研究是从第一次世界大战之后，就要不要恢复金本位制度的争论开始的，而汇率制度选择理论的发展轨迹潜藏于固定汇率制和浮动汇率制优劣的争论之中，并伴随着国际货币制度的历史变迁和国际金融市场的发展而不断完善；每个阶段所产生的有关汇率制度选择理论，都对当时汇率制度选择的实践起到了一定的指导作用，但是，其结论对于汇率制度的选择并不具有一般性指导作用；汇率制度决定理论还需要随着世界经济的发展而不断补充和完善。

A Back- look at the Exchange Rate Choice Theory

A retrospect of the evolution of the exchange rate theory reveals that the study of exchange rate system started in the debate over whether gold standard should be restored.Traces of exchange rate choice theory lie in the argument over nature of fixed and flexible rate systems.The theory has been getting ever perfect in the development of the international financial market with each stage extending guidance for the contemporary performance of the rate system.Nonetheless,the theoretical conclusions rarely contain generality: the theory still needs to be reinforced for the perfection.