中国资本外逃问题再思考

Reconsiderations on the Issue of China’s Capital Flight

资本外逃是国际经济间较为普遍的现象，如何估测我国资本外逃的数量始终是一个难题。采用直接分析法进行估测得出的结论是，我国近15年来始终存在资本外逃，尤其是自1995年以来有较明显的增加；但从与GDP的相对比重看，自1991年以来变化并不大。在考察资本外逃时，还要注意研究货币政策的选择问题。

Capital flight is a widespread phenomenon in international economy． How to estimate the volume of China’s capital flight has been a difficult problem． The findings obtained by using the direct analysis method are that there has been capital flight over the past fifteen years, and there has been obvious increase in capital flight since 1995． However, as a percentage of GDP, there has not been much change in capital flight since 1991． In examining the issue of capital flight we have to pay attention to the study of th choice of monetary policy．