頁籤選單縮合
題名 | 亞洲金融危機的省思與啟示=The Asian Financial Crisis,Lessons and Reflection |
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作者 | 邊裕淵; | 書刊名 | 輔仁學誌. 法管理學院之部 |
卷期 | 29 1999[民88.] |
頁次 | 頁21-42 |
分類號 | 562.193 |
關鍵詞 | 美元本位; 鑄幣稅; 硬特別提款權; 沒有黃金的金本位制; 國際商品準備本位制; Dollar standard; Seigniorage; Hard SDR; Gold standard without gold; International commodity-reserve standard; |
語文 | 中文(Chinese) |
中文摘要 | 1997 年亞洲發生危機,不但使亞洲各國經濟發展受挫,也影響世界經濟的成長。同時也予我們思考為何國際金融常發生失序現象。亞洲各國金融發生之原因固然不盡相同,但毫無例外的,均與經濟結構的失衡以及金融政策或管理的失當有關。此次金融危機對開發中國家的啟示有五,一、經濟實力是防止投機干擾的中要憑藉;二、諄尊重市場機能是減少衝擊的良策:三、資本市場未健全前不宜貿然開放股市;四、廉潔有效的金融監督、管理是杜絕危機之道;五、國際金融市場的關聯性高。世界各國金融秩序的維持似乎愈來愈困難,這與貨幣角色的改變有密切的關係,因而就有的國際經濟、金融制度是否合宜,也就予我們三點省思:一是美元是否有能力承擔國際清算的主要媒介;二是先進國家的戲規是否適合發展中國家;三是貨幣角色改變帶來不安定。面臨主要通貨雙邊匯率變性及乖離性,未來國際貨幣制度當如何改革,及論及的改革方法有五,一、重建金本位制度;二、三種貨幣區分案;三、硬特別提款權;四、世界申央銀行方案; 五十目標區方案。亞洲經濟通過金融危機後,經濟都需經過一段時間的調整,但也予東亞國家冷靜思考、檢討過去發展的缺失,以為未來的借鏡。現今世界經記體系中充滿許多不確定因素,在未來歐元崛起,美元之地拉勢必式微,其他的通貨能否成為區域性通貨主角及國際貨幣制度之重新安排,都是未來研究之重要課題。 |
英文摘要 | The 1997 financial crisis in Asia has not only affected the economic development of the countries in this region but also had deep negative consequences all over the world. Moreover, we may ask why the international financial system is so frequently disrupted. In every country of Asia without exception, the financial crisis is linked to anomalies in the economic structures as well as errors in financial policies and management. Developing countries can draw five lessons from the crisis. 1) Economic strength is very important as protection against speculation. 2) Respecting market mechanism is a good policy to minimize potential turbulence. 3) It is not advisable to open stock exchange to foreign investors completely when the capital market is not well developed. 4) A clean and efficient system of supervision and management of finance can prevent crisis. 5) International financial markets are interdependent to a high degree. The changing role of currencies shows that the existing worldwide international financial system is increasingly inadequate. Therefore three questions must be asked: 1) Is the US dollar still suitable as the main intermediary in international commercial transactions? 2) Are the rules of the game accepted in the advanced countries valid for developing countries? 3) What about the instability consequent to the changing role of currency? Facing the volatility of the vehicle currency value, five propositions to reform the international currency system are discussed: 1) Restoration of the gold standard; 2) Division of the world into three currency zones; 3) Hard special drawing right; 4) Creation of a World Central Bank; 5) Establishment of target zones. The Asian countries hit by the crisis need time to readjust their economies, but serious reflection on past experience is necessary to prepare for the future. The world economy today is full of uncertainty. The rising Euro, the inevitably declining dollars and the possible ascendence of other currency into the role ofvellicle currency are all future topics of concern. |
本系統之摘要資訊系依該期刊論文摘要之資訊為主。