论外汇储备、人民币汇率与经济增长的关系

文章基于开放条件下卢卡斯总产出分析框架基础上构建了外汇储备、人民币汇率与经济增长的理论模型,发现外汇储备可以通过影响通货膨胀率进而间接对经济增长产生显著影响,却不能通过影响人民币汇率进而影响经济增长。更为重要的是,外汇储备对经济增长的影响机制在不同的经济情况下具有显著的差异。这表明政府当局应根据经济环境的变化适时采取不同的政策,灵活调控外汇储备规模以促进经济的持续增长。

Foreign Exchange Reserve,RMB Exchange Rate and Economic Growth

Based on the condition of opening Lucas output analysis,We constructed the theoretical model of foreign exchange reserves,the RMB exchange rate and economic growth,found that foreign exchange reserves can affect inflation and indirect significant impact on economic growth,but cannot be affected by the RMB exchange rate to affect economic growth.More important is that foreign exchange reserves of the economic growth mechanisms in different economic situations have significant differences.This shows that the authorities should be based on the economic environment change adopting different policies,flexible adjustment foreign exchange reserves in promoting sustainable economic growth.