论人民币资本账户开放下货币政策制度的选择

On the Choice of Monetary Policy Regime under RMB’s Capital Account Convertibility

对于发展中国家来说 ,低通货膨胀率是资本账户开放的成功保证。本文分析了资本账户开放条件下通货膨胀目标制理论 ,认为随着人民币资本账户开放度越来越大 ,我国应该实行通货膨胀目标制 。

For developing countries and emerging economies, low inflation rate is essential to successful capital account convertibility. This paper analyses the theory of inflation targeting regime under capital account convertibility, and argues that with the openness of RMB, China should carry out inflation targeting regime while the choice of exchange rate regime should be inclined to flexible regime.