摘要
本文以后危机时代为背景,在中美人民币汇率现实争端以及学术界现有研究的基础上,从《IMF协定》关于"汇率操控"的定义出发,通过实证研究和对中美两国贸易实践的理论分析,得出美国等发达国家对中国政府"汇率操控"的指控不满足马歇尔—勒纳条件,即人民币贬值并不能带来中美贸易顺差。中美之间的贸易实践也有力地证明了美国对中国政府操纵汇率责难缺乏事实依据和理论基础。美元主宰的国际货币体系、美元的霸权地位、美国的出口管制、美国的经济结构和消费模式等才是美国贸易逆差的最主要原因。
This paper is based on the post-crisis era as the background, on the basis of Sino-US RMB exchange rate real dispute and existing research in academic, to the ＂exchange rate manipulation＂ is defined in ＂IMF Agreement＂ as a starting point, use co-integration empirical analysis, demonstrate the authenticity of Chinese government＇s RMB ＂exchange rate manipulation＂. The results showed that： the foreign trade between the United States and China does not meet the Marshall-Lerner condition, that the devaluation of RMB can not bring the Sino-US trade surplus, China is not the ＂exchange rate manipulator＂, and the RMB exchange rate control problem does not exist.
出处
《财经问题研究》
CSSCI
北大核心
2012年第11期10-15,共6页
Research On Financial and Economic Issues
关键词
人民币汇率
汇率操控
贸易顺差
RMB exchange rate
exchange rate manipulation
trade surplus
