汇率、资本流动与“二元悖论”

Exchange Rates, Capital Flows and the "Dual Paradox"

本文从中长期实际汇率入手,对汇率与经常项目、国际资本流动、当前货币政策传导效应作出分析,并就汇率政策的约束与选择、减缓资本外流压力、积极改善国内金融体系等关键问题提出建议。

This article examines China＇s real long-term exchange rate and analyzes its impact on the current account, international capital flows and the effectiveness of monetary policy. It also provides recommendations on exchange rate policy decisions, deflecting pressure from capital outflows and improving the domestic financial system.