新兴市场货币错配的成因、影响及控制——兼论中国的货币错配问题

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1、Y1t28864学号：—』盟地堑型L分类号——————卫卫—————一密缎——————j三‘———一UDC——————笪卫—————一新兴市场货币错配的成困、影响及控制——兼论中国的货币错配问题夏建伟指导教师姓名—————』已—童—j旺———一j丑j立—————一—————盟置盘望直生瞳——』篮血置鹰盥■L申请学位级别———』生_—L——专业名称———土划韭邕H鞋强L一论文提交日辨：2QQ2生3刳论文答辩日期：』地L年上门—§一日学位授予单位和日期：————j生韭L盘』生——jQ呸年—￡月_21日答辩

2、委员舍主席：—』唾壹—论文评阅人：—生堂盏一、—』吐坠坠、—j瞄益一、—』噬ii一、—』瞳韭2007年6月中圈·南京蓐贮夫雌浮衅孽ABSTRACTForemergingmarketsduringtheirprocessesofeconomydevelopment,itisinevitabletofacetheproblemofcurrencymismatchescausedbydifferencesinthecurrenciesinwhichtheirassetsandliabilitiesor／an

3、dthdrincomeandpayoutaredenominatedinasituationofopeneconomyandeconomicglobalization．However,acountrywitlllargecurrencymismatcheswillsufferthoradverseeffectsonstabilityofitsmacroeconomyandfinancialsecurity,evenacurrencyorfinancialcrisis．Basedonexistedres

4、earch,thisdissertationhascomprehensivelyandsystemicallystudiedtheCaUSes)effectsandcontrollingmeasuresofcurrencymismatchesinemergingmarkets．IthasalsoresearchedtheproblemofcurrencymismatchesinChina．Withtheinternationallycomparativeandempiricalanalysisofth

5、estatusofcurrencymismatchesinemergingmarkets,theconclusionscallbemadethatthereishiighcorrelativitybetweencurrencymismatcheswiththeformofnetforeignliabilityandtheoutcomeofcurrencycrisisandtheproblemofcurrencymismatchesisthecharacteristicsofuniversality,i

6、nevitability,complexibility,endangermentandregionality．Astothedevelopingtrendsofcurrencymismatchesinemergingmarkets，Iconcludethatthesituations粥muchbetterthanCVerina11．buttheywillbelongstandingandpossibletoexacerbate．Currencymismatchesinemergingmarketsar

7、etheoutcomeof∞-actionofdomesticandforeignfacts，whichtheformerincludesunderdevelopmentofdomesticbondmarkets，fixedexchangeratearrangementandtheweaknessofeconomicpolicyandinstitution,whilethelattermaybetheeconomicglobalizationandtheweaknessofexistingintern

8、ationalmonetarysystem．memergingmarkets，iftherearelargeoarrcncymismatches，nomatterwhichformstheywouldbehave，theywouldresultinadverseeffectsOilstabilityofemergingmarkets’macroeconomyandfinancialsecurity,suchasinvestmentcontractiona