IMF资本流动自由化与管理的新观点评析

Analysis and Comments on IMF's New View on Liberalization and Management of Capital Flows

IMF《机构观点》的发布,表明其对资本账户自由化的态度发生了显著转变。IMF意识到了资本流动自由化带来的潜在风险和巨大成本,提出了资本流动自由化的实施路径,承认了资本流动管理措施的合理性,强调了加强国际合作和协调的必要性,并建议强化资本流动政策的国际监督。这些都具有积极的意义,但机构观点仍存在明显的缺陷。另外,该机构观点本质上仍旧服务于新自由主义,发展中国家对此应保持清醒的认识。

The release of IMF's the Institutional Views indicates a significant change in its attitude towards capital account liberalization.Aware of the potential risks and huge costs of capital flow liberalization,IMF proposed the implementation path of capital flow liberalization,acknowledged the rationality of capital flow management measures,emphasized the necessity of strengthening international cooperation and coordination,and suggested strengthening international supervision on capital flow policies.These have positive implications,but the Institutional Views still has obvious defects.In addition,the Institutional View is of neoliberalism in nature.So developing countries should be clearly aware of this.