金融危机下香港联系汇率制的可持续性与变革路径研究

Study on Feasibility and Reform Direction of Linkage System Between the US Dollor and the HK Dollor in the Global Financial Crisis

全球金融危机爆发致使香港联系汇率制承受压力,废除与否的争论再次引起关注。本文首先介绍香港目前面临的经济困境,并阐述了香港汇率制度受置疑的原因;接着从政府信誉、退出时机、备选方案不成熟等多方面,证明香港应维持现有汇率制度;最后提出中短期及长期下,香港联系汇率制度的改革方向。

Hong Kong＇s linked exchange rate system is suffering the great press during the global financial crisis and the debate about whether linked exchange rate system is kept is concerned widely. The article first tells the reason why the linked exchange rate system is on the fire and then puts forward the viewpoint that Hong Kong should keep the linked exchange rate system, which derived from the demonstration from prospects of government credit, quit timing and the unfeasible of candidate reform drafts. The article ends up with suggestion of direction of future reform in the short, medium and long run respectively.