摘要
人民币汇率降低,对于增加出口、减少进口以及在非贸易收入和资本流入等方面的作用,要受到一系列因素的限制;对人民币贬值的正效应不能估计过高。汇率调整的决策应该在对汇率调整的宏观经济效应进行综合分析的基础上进行。汇率调整的依据和时机选择,主要需要考虑原来的通货膨胀率、国内资源的供求状况、国际市场环境和国际经济变动趋势三个关键因素。
The lowering of Reminbi exchange rate to increase exports and decrease imports, non-trade income and inflow of capital is to be limited by a series of factors, and therefore, the positive effectiveness of devaluing Reminbi can not be over estimated. The adjustment of ex-change rate should be made on the basis of comprehensively analyzing the macroeconomic effectiveness of the adjustment. Three key factors should be considered in the timing of ad-justment: the former inflation rate, the situation of supply and demand of domestic re-sources, the international market environment and the trend of international economic vicis-situdes.
出处
《经济学家》
CSSCI
北大核心
1991年第1期31-37,共7页
Economist
