基于外贸视角的人民币国际化微观基础分析

企业在对外贸易中选择计价货币的行为是由计价货币发行国的经济实力、贸易规模、贸易结构以及汇率稳定性等基础因素决定的.实证分析表明,目前人民币国际化主要由宏观经济基础支撑,基于外贸的微观基础稍显薄弱但已具备一定力度.在外贸微观基础的三个要素中,规模要素对人民币国际化的支撑力度最强,结构要素作用的发挥有一定滞后性但具有较大影响潜力,风险要素的力度最为薄弱.因此,应进一步强化人民币国际化的外贸微观基础,特别是可以通过优化外贸结构并加强汇率风险管理来实现这一目标.

The Micro-Analysis of RMB Internationalization on the View of Foreign Trade

The basic requirement for enterprises choosing invoice currency in foreign trade is economic potentiality,the trade scale,the trade structure as well as the stability of foreign exchange rate.The empirical analysis indicates that RMB internationalization is mainly shored by macro-foundation of economy at present,and foreign trade micro-foundation is slightly weak but has certain dynamics.In the three essential factors of foreign trade micro-foundation,the support by scale factor to RMB internationalization ...