文档介绍：对外经济贸易大学
硕士学位论文
国际货币体系改革路径研究--基于国际货币进一步多元化
姓名:王力
申请学位级别:硕士
专业:金融学
指导教师:高洁
2010-09
摘要

布雷顿森林体系崩溃后国际货币体系进入信用货币时代,同时美元的垄断地
位被打破,国际货币实现了多元化,但美元依然占据主体地位。当前国际货币体
系的核心问题就是对美元的过度依赖,而美元的提供是以美国经常账户长期、大
规模逆的方式实现的,这严重的动摇了美元的信用基础,从而导致当前国际货币
体系内在的不稳定。美国债务经济的不可持续性和世界经济区域化发展特别是新
兴经济体的崛起将决定国际货币进一步多元化的发展趋势。国际货币进一步多元
化可以通过多种主权货币的有效竞争而整体解决国际货币的流动性和稳定性两
难问题,但不可否认国际货币进一步多元化并不能解决国际货币体系面临的所有
问题,惟有超主权货币的创设才能解决主权储备货币存在的种种内在缺陷。基于
国际货币进一步多元化,通过对 SDR 的改造可以为世界提供一种与主权国家脱
钩、币值稳定、供应有序、总量可调的全新的国际储备货币。

关键词: 国际货币体系;信用货币;多元化;SDR;超主权货币

I
Abstract

The international ary system came into times of credit currency after the Bretton
Woods system collapsed. Meanwhile, monopoly situation of US dollar was broken and
international currency realized diversification, however, US dollar still takes the
subject position in current system. Actually, this is the key issue of current
ary system because pattern of US dollar supply is based on long term and
heavy current account deficit by USA. This shook credit foundation of US dollar
and lead to current ary system unstable. Huge liability in USA can’t be
sustained and with integrated and regionalized of the world economy and also
power of emerging economies growing up, developing trend of international
ary would e further diversification, this is because further
diversification can resolve liquidity and stability both of the issues through
competition between multiple credit currencies. However, the international
currencies further diversification can’t resolve issues at all. The only way is to
create super-sovereign currency. Based on international currencies further
diversification, it is possible to provide a new international reserve with stable,
controllable, well-regulated and independent of certain sovereign currency by
reformed SDR.

Key Words : The international ary system; Credit currency;
Diversification; SDR;