中日韩外债规模、结构与可持续性

本文对中日韩三国外债规模、结构与可持续之间的关系进行分析，选择外债余额／GDP、外债余额／经常账户差额以及外债余额／国际储备三个指标对外债规模进行分析，从期限结构和外债种类两个方面对外债结构进行研究，指出外债可持续性不仅受到外债规模与结构的影响，也受到经济基本面、对外净资产、国际金融环境等因素的制约。

Scale,Structure and Sustainability of External Debt for China,Japan and South Korea

The paper analyzes the relationship among scale, structure and sustainability of external debt for China, Japan and South Korea. It chooses three indicators, including external debt balance/GDP, external debt balance/current account balance and external debt balance/international reserves, to show the scale of external debt, and it studies the structure of external debt from term structure and types of debt. Finally, it points that sustainability of external debt is not only affected by the scale and structure, but also restricted by other factors, including economic fundamentals, net foreign assets, international financial environment, and so on.