拉美金融脆弱性的根源及启示

Financial Fragility in Latin America-Its Causes and Enlightenment

拉美国家普遍具有金融脆弱性这一特征。这一现象归因于结构缺陷、汇率制度僵化、过早金融自由化、高度财政赤字化和债务化等多个方面。它带给发展中国家的启示是应选择适宜的汇率制度、外汇与债务管理制度、宏观经济政策 。

Generally, Latin American countries have the characteristics of financial fragility. The causes of this phenomenon include defects in the economic structure, a rigid foreign exchange regime, early-coming financial liberalization, the high budget deficit and high foreign debt. The developing countries would gain a good deal of enlightenment from Latin American experience.