外汇储备适度规模分析:理论方法与中国实证

Analysis on the Scales of the Foreign Exchange Reserves: Theoretical Methods and Chinese Practice

截止到2006年9月末我国外汇储备余额已达9879亿美元,然而外汇储备和其他很多经济变量一样存在一个适度规模的问题。首先介绍了衡量外汇储备适度规模的几种主要的方法;然后对我国外汇储备的适度规模进行了实证分析;最后针对我国超额外汇储备的管理问题提出了一系列的建议。

Until June 2006, the balance of foreign exchange reserves in China has reached to 9411. 05 hundred million dollars. While just as other economic variables, the scale of the foreign exchange reserves must be appropriate too. In this paper, we introduce several methods for the measurement of the foreign exchange reserves and analyze the appropriate scale of foreign exchange reserves in China. At last we give some recommendations about how to manage the excessive foreign exchange reserves.