世界坐标下的人民币资本市场

• 作 者: 郑海东
• 出 处: 中国投资
• 发表日期: 2005年03期
• 关键词: 世界坐标 资本市场 生产过剩 货币危机 财政赤字 通货膨胀 物质经济 经济膨胀 资本项目可兑换 国际投机资本

20世纪90年代以来,虚拟经济膨胀 和金融危机并存。虚拟经济的膨胀表现 为衍生品金融工具和交易的规模远远超 过物质经济的规模,并脱离物质经济的 运转规律,形成自身的发展规律。经济危 机也因此从过去的生产过剩、财政赤字、 通货膨胀逐渐转化为金融危机和与金融 危机连接的货币危机。

Since the 1990s, the fictitious economy has expanded and the financial crisis has coexisted. The expansion of the fictitious economy shows that the scale of the derivative financial instruments and transactions far exceeds the scale of the material economy and departs from the law of operation of the material economy and forms its own law of development. Therefore, the economic crisis has gradually transformed from the overproduction, fiscal deficit and inflation in the past into the financial crisis and the currency crisis linked with the financial crisis.