利率市场化、国际资本流动与资本账户开放的关系——基于典型国家和地区经验的分析

The Interrelation among the Interest Rate Liberalization, International Capital Flow and Opening Capital Account——The Analysis Based on the Experiences of Typical Countries and Regions

本文从国内外理论界关于利率市场化和资本账户开放顺序的不同观点入手,深入分析了典型国家和地区利率市场化与资本账户开放的实践过程,并分析了利率市场化对国际资本流动的影响以及相关风险因素,最后结合我国金融改革实际,对协调推进我国利率市场化改革和资本账户开放提出了政策建议。

Begining with the different viewpoints of the domestic and foreign theoretical circles about the sequence of the interest rate liberalization and the capital account opening, the paper deeply analyzs the practical process of interest rate liberalization and capital account opening in some typical countries and regions, and also analyzes the effect of the interest rate liberalization on the international capital flow and relevant risk factors. Finally, the paper puts forward policy suggestions on the coordination of China＇ s interest rate liberalization and the capital account opening.