摘要
本文通过历史回顾与文献考察总结出全球失衡与金融危机之间的内在联系,并从货币霸权视角建立起失衡与危机的数理模型,指出本轮全球金融危机与美国扩张性货币政策及美元霸权密切相关。文章进而分析了危机冲击与政策反应模式,重点探讨了中国经济复苏的条件。通过国际比较,我们认为,大萧条的教训之一是政府在某些领域的过度干预,而经济体的充分弹性(即灵活的市场机制)则是中国经济率先复苏必不可少的条件。
This paper examines file inherent relationship between the global imbalance and financial crisis from historical review and literature survey. Our paper sets up a two-country model featured by monetary hegemony showing that the financial crisis of 2008 is closely interrelated with the United States＇ expansionary monetary policy and the hegemony of U.S. dollar. This paper then analyses the impact of crisis and the policy response, focusing on the preconditions for China＇ s economic recovery. Through international comparison, we argue that one of the Great Depression＇ s lessons is the exorbitant government intervention in some area and the necessary condition for China＇s revival is economic flexibility, namely, resilient market mechanism.
出处
《经济研究》
CSSCI
北大核心
2009年第5期4-20,共17页
Economic Research Journal
基金
国家社科基金重大招标课题“贯彻落实科学发展观与完善宏观调控体系”(批准文号07&ZD004)
“我国经济结构战略性调整和增长方式转变”(批准文号06&ZD004-01)
社科院A类重大课题“开放条件下的宏观稳定”的资助
关键词
全球失衡
金融危机
经济体的弹性
经济复苏
Global Imbalance
Financial Crisis
Economic Flexibility
Economic Recovery
