巴西恶性通胀治理及其对中国的启示

The Regulation of Hyperinflation in Brazil and Its Implication to China

恶性通货膨胀是对经济持续增长的重大挑战。本文梳理了20世纪巴西经济增长路径,详细分析了巴西恶性通货膨胀形成的原因及其政府的治理手段。以此为基础,通过对比中国和巴西通货膨胀形成原因的差异,本文从货币发行、财政资金收支、税收和汇率等多种政策的搭配使用,以及统筹管理社会信用规模总量等方面对中国治理通货膨胀提出了一些政策建议。

Hyperinflation is a major challenge to sustainable economic growth.This paper reviews the path of economic growth in the 20th century for Brazil,discusses the reasons for the formation of hyperinflation and the Brazilian government＇s management.By comparing the differences of the causes led to inflation between China and Brazil,the paper put forward some suggestion for China from the viewpoint of strict currency,scientific funds expenditure,policy match and overall management of the total size of social credit.