基于Klein资本开放模型的实证研究及其对中国的启示

对于资本项目开放这一热点问题,Klein(2003)所建立的模型为研究指明了方向,该模型强调了资本开放对经济增长的影响受本国国情因素的制约。本文在原模型思想的基础上,采用面板数据分析方法研究了资本开放的动态过程,并以和中国国情相似的拉美和亚洲一些发展中国家为样本,使结果对我国的资本项目开放更有意义。最后针对我国目前的国情,结合实证分析结果,给出对我国资本项目开放的一点建议。

Empirical Research on Capital Account Liberalization and Its Hints to China: Based on Klein Model

Klein(2003) set up a new model to study capital account liberalization,which emphasized the impact of capital liberalization on economic growth is limited by the economic and political conditions of the country.This paper follows the thought of Klein and takes a panel data analysis to study the dynamic process sampling the developing country in the Latin America and the Asia which have the same situation to China.The result should be useful to the capital liberalization of China.Finally,some suggestions will be given duo to the result of empirical analysis and actual situation of China.