发展中国家金融务贸易开放与资本账户自由化.pdf

发展中国家金融服务贸易开放与资本账户自由化 任晓佳 2003 年 11 月 2004 年 4 月 摘 要 本文讨论了发展中国家金融服务贸易开放如何促进其资本账户自由化进程及 减小资本账户自由化带来的潜在风险的问题 分析的角度有两个 一是金融服务 贸易的开放如何影响资本流动的波动性 二是金融服务贸易的开放如何增强一国 金融体系的质量 文章引用了Kono 的实证分析 指出不同的金融服务贸易方式 的开放对资本流动的稳定性和金融体系质量将产生不同影响 认为发展中国家无 论是否已经开放资本账户 都能够通过金融服务贸易有顺序和有选择的开放 增 加资本流动的稳定性和金融体系的稳健度 为资本账户的自由化做准备 或者减 小资本账户自由化带来的潜在风险 主题词 GATS 金融服务贸易 资本账户自由化 I Financial Services and Capital Account Liberalization in Developing Countries Xiaojia , Ren November, 2003—April, 2004 Abstract The paper discusses the financial services liberalization in developing countries under GATS, and how it promote the capital account liberalization process in these countries and reduce the potential risk involved. The discussion is from two perspectives: first, how does the opening of financial services affect the host countries’ financial system capacity; second, how does the opening of financial services affect international capital flows. Drawing from Kono ’s analysis, the paper points out that since different molds of financ ial service trade differ in their affect on financial system and capital flow, developing countries can adopt a sequential financial services liberalization to prepare themselves for capital account liberalization, and to reduce the potential risk involved. Keywords: GATS, Financial Service Liberalization, Capital Account Liberalization II 第一章 绪论 第一章 绪 论 本文探讨的是发展中国家金融服