中国货币政策的演变:进退两难

IF 1.8 3区经济学 Q2 ECONOMICS

Review of Keynesian Economics Pub Date : 2021-01-01 DOI:10.4337/ROKE.2021.01.05

R. Vasudevan

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引用次数: 1

摘要

本文探讨了中国人民银行(PBoC)货币政策在中国为促进人民币国际角色所采取的独特路径背景下的演变。这篇论文强调了中国央行面临的挑战。中国央行正寻求促进人民币在国际贷款中的使用，同时寻求遏制和约束金融固有的不稳定性和潜在的破坏性逻辑。中国面临的问题不仅仅是就不可能的三位一体进行谈判，而是它试图摆脱美国的阴影，为人民币打造独立的全球角色，同时主张对发展中金融业轮廓的控制所带来的困境。中国的实验检验了政府驯服金融的能力的极限。

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The evolution of China's monetary policy: on the horns of a dilemma

This paper explores the evolution of monetary policy at the People's Bank of China (PBoC) in the context of the distinct path China has adopted in fostering the international role of the renminbi. The paper highlights the challenges faced by the PBoC as it seeks to promote the use of the renminbi in international lending in particular, while simultaneously seeking to contain and discipline the inherent instability and potentially disruptive logic of finance. The problem it faces is not simply that of negotiating the impossible trinity, but rather the dilemma posed by its attempt to step out of the shadow of the US and forge an independent global role for the renminbi, while asserting control over the contours of its developing financial sector. The Chinese experiment tests the limits of the capacity of the state to tame finance.

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来源期刊

Review of Keynesian Economics ECONOMICS-

CiteScore

3.10

自引率

12.50%

发文量

期刊介绍： The Review of Keynesian Economics (ROKE) is dedicated to the promotion of research in Keynesian economics. Not only does that include Keynesian ideas about macroeconomic theory and policy, it also extends to microeconomic and meso-economic analysis and relevant empirical and historical research. The journal provides a forum for developing and disseminating Keynesian ideas, and intends to encourage critical exchange with other macroeconomic paradigms. The journal is dedicated to the development of Keynesian theory and policy. In our view, Keynesian theory should hold a similar place in economics to that held by the theory of evolution in biology. Many individual economists still work within the Keynesian paradigm, but intellectual success demands institutional support that can leverage those individual efforts. The journal offers such support by providing a forum for developing and sharing Keynesian ideas. Not only does that include ideas about macroeconomic theory and policy, it also extends to microeconomic and meso-economic analysis and relevant empirical and historical research. We see a bright future for the Keynesian approach to macroeconomics and invite the economics profession to join us by subscribing to the journal and submitting manuscripts.