三元悖论解析欧洲债务危机及其对我国的启示

Analyzing the Debt Crisis of Europe with the Impossible Trinity and Getting the Revelation to China

三元悖论揭示了开放经济条件下经济体系内部所蕴含的矛盾,为宏观调控当局的政策选择提供了一个理论分析框架。国际金融危机使得一些国家经济固有的缺陷凸显出来,欧洲一些国家的主权债务危机就是因为制度设计的缺陷导致的,需要根据经济形势的变化调整其政策组合的选择。而我国今后的政策目标应该是增强汇率弹性,促进资本的自由流动。

The Impossible Trinity brings out the conflict in economy system when the economy is opened to the outside world,and it offers frame to policy analyze.The Global Finance Crisis discovers defects in some economy,the institutional defects is a reason of the debt crisis of Europe,Policy is need to adjust according to economic situation.Chinese economic goal should be floating rate and unrestricted capital flow in the future.