资源诅咒、货币错配与发展中国家债务危机

Resource Curse, Currency Mismatchand Debt Crisis of Developing Countries

在全球经济局势急剧变化的背景下,发展中国家面临愈加严峻的债务危机风险。回顾梳理发展中国家历经三次的债务浪潮,本文选取具有代表性的发展中国家债务危机进行对比分析,发现存在四点共同特征:结构主义思想引致债务规模积累、单一经济结构加深债务融资依赖、货币深度错配加剧债务负担、在外生冲击影响下这些问题愈加凸显,发展中国家最终爆发债务危机。基于上述特征,在当前国际局势不断变动的外部环境冲击下,对面临严重债务风险的发展中国家的债务问题进行归纳总结。中国作为发展中国家的主要债权国之一,需要积极构建全球债务治理交流合作平台,参与完善国际债务治理模式,共同确立发展中国家主导的债务处置机制。

In the context of rapid changes in the global economic situation,developing countries are facing an increasingly severe risk of debt crisis.After reviewing the three debt waves of developing countries,this paper selects representative debt crisis of developing countries for comparative analysis,and finds that there are four common characteristics:the accumulation of debt scale caused by structuralism,the deepening of debt financing dependence by the single economic structure,the aggravation of debt burden pressure by deeply currency mismatch,and these problems become increasingly prominent under the influence of exogenous shocks.Finally,the debt crisis broke out.Based on the above characteristics,this paper summarizes the developing countries facing serious debt risks under the impact of the external environment of the current changes in the international situation.As one of the major creditor countries of developing countries,China needs to actively build the global debt governance exchange and cooperation platform,participate in improving the international debt governance mechanism,and jointly establish the debt disposal mechanism led by developing countries.