腐败与货币危机(4)

2019-03-15 13:17

基本可兑换(经登记或核准)的有12项占28%;有限制的16项占37%;暂时禁止的有15项占35%到2001年底外商直接投资、中资企业在境外上市筹资和外债余额合计为5600亿美元同时中国国家外汇储备、中资企业在境外投资和中资金融机构境外净资产合计超过4000亿美元另外作为一种过渡性的改革与开放措施中国已正式推出了QFII向合格国际机构投资者有条件地开放了A股市场与人民币债券市场下一阶段在完善QFII机制的同时也在积极创造条件引入QDII这将推进人民币自由兑换的进程参考文献

1.Bardhan,Pranab(1997)“CorruptionandDevelopment:AReviewofIssues,”JaurnalofEconomicsLiterature,Vol.XXXV(September):1320-1346.

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ersityofChicagopress,pp7-45.

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9.Kaufmann,DanielandShang-JinWei(1999),“DoesGreasepaymentspeedUptheWheelsofCommerce?”NBERWorkingPaper7093.

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11.Corsetti,GianacarloandPaoloPesentiandNourielRoubini(1999),”PaperTigers?AmodeloftheEastAsianCrises,”EuropeanEconomicsReview,43,1211-1236.

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(2000),”UnderstandingtheKereanandThaiCurrencyCrisis,”EconomicsPerspective,FederalReserveBankofChicago,24(3),45-60

13.金洪飞李子奈(2001)“资本流动与货币危机”金融研究第12期.

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14.金洪飞(2001)“货币危机理论文献综述”当代经济科学第5期.

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17.姜波克陆前进(2000)汇率理论和政策研究上海复旦大学出版社.

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19.谢平陆磊(2003)“中国金融腐败指数方法论与设计,”金融研究第8.

CorruptionandCurrencycrisis

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Abstract:Cronycapitalismandself-fulfillingexpectationsbyinternationalcreditorsareoftensuggestedastworivalexplanationsforcurrencycrisis.Thispaperexaminesapossiblelinkagebetweenthetwothathasnotbeenexploredmuchintheliterature:corruptionmayaffectacountry’scompositionofcapitalinflowsinawaythatmakesitmorelikelytoexperienceacurrencycrisisthatistriggered/aidedbyasuddenreversalofinternationalcapitalflows.Andfinally,thispapermadeananalysisofthestatusofcompositionofcapitalinflowsandcorruptioninChina.

Keyword:currencycrisis,corruption,compositionofcapitalinflows,FDI,internationalbankloan,portfolioflow

p;andself-fulfillingexpectationsbyinternationalcreditorsareoftensuggestedastworivalexplanationsforcurrencycrisis.Thispaperexaminesapossiblelinkagebetweenthetwothathasnotbeenexploredmuchintheliterature:cor

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ruptionmayaffectacountry’scompositionofcapitalinflowsinawaythatmakesitmorelikelytoexperienceacurrencycrisisthatistriggered/aidedbyasuddenreversalofinternationalcapitalflows.Andfinally,thispapermadeananalysisofthestatusofcompositionofcapitalinflowsandcorruptioninChina.

Keyword:currencycrisis,corruption,compositionofcapitalinflows,FDI,internationalbankloan,portfolioflow

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