我国外汇市场供给的集中与分散

Concentration and Dispersion of the Supply in China's Foreign Exchange Market

我国外汇市场的基础外汇供给经历了高度集中、适度分散和垄断集中的三个阶段,每个阶段具有各自的特点。对于这种供给的集中与分散,论文从产权经济学的角度给出了解释,并分析了它们在一定发展时期的合理性。当然,我国外汇市场外汇供给的过快集中也带来了相应的成本。

The basic supply in the Chinese foreign exchange market experiences three stages--highly concentration, moderate distribution and monopoly concentration. Each stage has its own features. An elaboration on the concentration and distribution has been given on the perspective of property economics. This kind of concentration and distribution is reasonable to some extent in a certain period of development. Finally, the costs brought by the rapid concentration of the foreign exchange supply are also analyzed.