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大部分新兴市场经济国家或地区声称允许汇率自由浮动,实际上其货币并没有真正完全自由浮动,这些国家“害怕浮动”主要是因为其经济政策长期缺少公信力。根据中国的实际情况,本文建议中国货币当局采用一种汇率规则来提高我国政府的公信力。
Most emerging market economies claim to allow the exchange rate to float freely. In fact, their currencies are not really completely free floating. The “fear of floating” in these countries is mainly due to their long-standing lack of credibility in their economic policies. According to the actual situation in China, this paper suggests that the Chinese monetary authorities adopt a kind of exchange rate rule to improve the credibility of our government.