国际货币体系的属性——基于国际货币契约的研究

The Attribute of International Monetary System:A Study on International Currency Contract

本文从国际货币契约视角探讨国际货币体系的演变发展。文章认为现行国际货币体系的最根本属性在于无约束的纯信用本位货币特质,当前全球经济失衡问题正是在这种信用货币本位下的储备国道德风险作用的集中表现。本文对关于国际货币地位形成的"抵押资产契约"说进行评析,并认为未来国际货币体系将通过货币竞争朝着多元化方向发展来克服无约束的信用本位的弊端。

This paper explores the evolvement of International Monetary System from the view of international currency contract.Considering the fundamental attribute of actual International Monetary System is the nonrestraint pure credit currency standard.Currently the global economic imbalance is the concentrated embodiment of reserve country's moral hazard.This paper analyzes the theory of collateral asset contract about the shape of International Monetary Status,and believes that the International Monetary System will be multipolar though currency competition,and overcome the abuse of nonrestraint credit currency standard in the future.