This paper argues that, the moral hazard, which is an endogenous element in the pegged exchange rate system, caused the fragility of Asian financial system, meanwhile the fragile financial system, or the huge amount of the short-term foreign debt caused the collapse of pegged exchange rate system when facing the assault of international speculators.
本文认为 ,内生于钉住汇率制度的道德风险是造成东南亚国家金融体系脆弱的主要原因 ,而脆弱的金融体系、大量的短期外汇负债又会在国际资本的冲击下最终导致钉住汇率制度的崩溃。
As the open-up policy deepens today in China, the fixed peg system being applied now displays some disadvantages, especially when China is to realize the free exchange under capital account in the near future.
在我国对外开放程度进一步深化的今天,我国目前实行的固定钉住汇率制度逐渐显现出一些弊病,尤其是在我国未来实现人民币资本项目下的可自由兑换的情况下,重新进行人民币汇率制度的安排,势在必行。
Although the de factor dollar peg system adopted by East Asian countries after the Breton Woods Monetary System was the main cause of Asian financial crisis in 1997, the linkage of home curren- cies with the US dollar,as some economists pointed out,has returned to the pre-crisis condition for some countries in this region.
布雷顿森林体系崩溃后东亚国家(地区)所实行的实际钉住美元汇率制度是引发1997年亚洲金融危机的主要根源,但近两年东亚部分国家(地区)又重新恢复了这种汇率制度安排;同时由于欧洲货币合作的成功示范,也大大激发了东亚国家(地区)对于实现区域货币合作的广泛兴趣。
Pegged Exchange Rate System
固定汇率制度/钉住汇率制度
Research on East Asia's Pegging Regimes under Post Bretton Woods System;
后布雷顿森林体系下东亚钉住汇率制度研究
Pegged Exchange Rate System in East Asia and Outward-Looking Economic Development;
东亚地区钉住汇率制度与外向型经济发展
Research on the Duration of Pegging Exchange Rate Regime in East Asia;
东亚国家钉住汇率制度的可持续性研究
An Analysis of the New Theories on the Developing Countries Preference for Pegging Regimes;
发展中国家偏好钉住汇率制度的新理论分析
External Shocks and the Collapse of the Pegged Exchange Rate Regime;
资本账户和经常账户负面冲击与钉住汇率制度危机的理论分析
A pegged exchange rate also cramped the RBI's room to raise interest rates, because that would attract yet more capital.
印度储备银行RBI的钉住汇率制度也束缚了其上调利率的空间,因为上调利率会吸引更多资金。
The Regime of Pegging a Basket of Currencies and Its Adoption in China;
“钉住一篮子货币”汇率制度的理论与实践
The Research of Pegging Currency Basket Exchange Rate Regime of RMB
钉住货币篮子汇率制度在中国应用的研究
adjustable peg [foreign exchange]
可调整钉住汇率[外汇]
Analysis on the Issue of the RMB Adopting the "BBC" (Basket, Band and Crawl) Rules;
人民币汇率采用爬行波幅钉住货币篮子制度的可行性分析
During the Asia financial crisis period,they gave up this system and adopted floating exchange rate system.
在危机期间,大部分国家(地区)都放弃了钉住汇率制,采取了浮动汇率制度。
Research on the Chinese Practice of Exiting Form Pegged Exchange Rate in the Reference of International Experience;
从退出钉住汇率制的国际经验看中国退出实践
Assessing the Pegged Exchange Rates from Argentina s Financial Crisis;
从阿根廷金融危机分析“钉住汇率制”的利弊
The dollar“ peg” has forced China to adopt an excessively lax monetary policy.
由于中国目前奉行“钉住美圆”的汇率制度,其不得不采纳一种相当松弛的货币政策。
It suits the fact that RMB's exchange-rate pegs US$, capital item is controlled, the opening degree of trade is not high.
这同人民币汇率钉住美元、资本项目管制、贸易开放度不高的实际情况是吻合的。
An exchange rate system staring at US dollar was factually adopted by most east Asia countries before 1997 financial crisis.
东亚大部分国家(地区)在1997年亚洲金融危机之前采取的是事实上钉住美元的汇率制度。
Under the Pegged Exchange Rate the Plight of China's Interest Rate Policy
钉住汇率下中国利率政策的困境:理论与经验
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