作　　者： ;

机构地区： 广东金融学院

出　　处： 《国际金融研究》 2007年第4期45-50,共6页

摘　　要： 在考虑汇率的影响因素时，传统的汇率决定理论主要是从一国的宏观基本因素进行分析。随着经济全球化的深入，货币的跨国流动规模越来越大，货币替代现象日益严重，对汇率的干扰也越来越大。本文在货币分析法的基础上加入货币替代因素，建立了一个简单的分析框架，并运用我国的相关数据对此进行检验，结果证实货币替代确实对汇率产生了很大的影响。 The traditional theories of exchange rate determination only analyze the macroeconomic factors of a single country. Along with the expansion of economic globalization, currency flow is on the increase crossing borders and currency substitution is increasingly significant, as a result, the exchange rate becomes more and more volatile. This paper tries to construct a simple framework based on monetary approach, which adding currency substitution as variable, and test it by relative data in China . The empirical evidence supports the view that currency substitution do have an significant effect on exchange rate.

关 键 词： 货币分析法 货币替代 汇率

分 类 号： [F831]

领　　域： []