论国际货币体系的缺陷与重构——兼评晚近的金融危机

Defects and Reform of the International Monetary System—A Review of the Recent Financial Crisis

牙买加体系确立了多元化的储备货币制度和以浮动汇率为主的混合汇率制度,但由于缺乏相关规则对主要储备货币进行有效的协调与约束,致使其呈现出鲜明的'无体系'特征。该体系的掠夺性、风险性和不平衡性直接导致了晚近全球性金融危机的绵延不绝,进一步证实了脱胎于二战后布雷顿森林体系基础上的现行体系已不能适应国际经济和政治格局的深刻变迁。为实现金融危机的全球治理,国际社会必须从根本上变革以少数主权储备货币为核心的现行国际货币体系,建立以特别提款权为核心的国际金融新秩序。

Plural international reserve currencies and floating exchange rates are the characters of the Jamaica Monetary System,but there are no rules to restrict and coordinate reserve currencies in the system,which leads to the delution of the international monetary system.The exploitation risk and unbalance of the current system results in recent continuous global financial crises,which proves that the system cannot adapt itself to the drastic international political and economic changes.Therefore,in order to globally govern financial crisis and construct the financial order with justice and fairness,the international community should reform the Jamaica Monetary System dominated by several reserve currencies.Considering all kinds of conceptions and previous lessons,the international community should establish the new international monetary system focusing on Special Drawing Right(SDR).