钉住汇率制度、国际收支失衡与墨西哥金融危机

Pegged Exchange Rate System,Balance of Payment Disequilibrium and Mexican Financial Crisis

1994年12月,墨西哥金融危机爆发,并迅速波及到巴西、阿根廷和智利等拉美国家,震惊了整个世界。比索钉住美元的汇率制度是酿成墨西哥金融危机的根源,国际收支失衡是墨西哥金融危机的导火索。本文将在宏观经济学的框架内,分析钉住制度、国际收支失衡与墨西哥金融危机之间的内在逻辑关系。

In December 1994,the Mexican financial crisis broke out and quickly spread to Latin American countries such as Brazil,Argentina and Chile,shocking the whole world.The peso pegged to the US dollar exchange rate system was the root cause of the Mexican financial crisis,the balance of payment disequilibrium was the trigger of the Mexican financial crisis.This paper will analyze the logical relationship among the peg exchange rate system,the balance of payment disequilibrium and the Mexican financial crisis in the framework of macroeconomics.