摘要
20世纪70年代中期以来,美国经常项目逆差呈现常态化,这主要源自美国的宏观政策。伴随全球价值链的发展,限制进口可能伤害自身出口。如果只减少贸易逆差而不解决宏观经济失衡问题,其结果可能是产出减少,经济增长率下降,因为国内工资水平、失业率和经济增长率是宏观政策和国际环境变动的产物,而不仅是贸易逆差的结果。
Since the mid-1970s,mainly due to the US macro policy,its current account deficit has been normalized.With the development of global value chain,countries that restricting imports may hurt their exports.If a country only reduces the trade deficit and does not solve the problem of macroeconomic imbalance,it may lead to a decrease in output and a decline in economic growth rates,because domestic wage levels,unemployment rates and economic growth rates are also the product of macroeconomic policies and changes in the international environment,not just the result of the trade deficit.
出处
《金融发展研究》
北大核心
2018年第9期54-57,共4页
Journal Of Financial Development Research
关键词
贸易逆差
经常项目
宏观政策
经济增长
trade deficit
current account
macroeconomic policy
economic growth
