从最优货币区理论看CAFTA成员国金融政策协调

伴随着中国—东盟自由贸易区(CAFTA)的实施,区域内投资和贸易一体化继续发展的结果必将需要各成员国宏观经济政策的协调统一。因此,在中国—东盟自由贸易区的实施过程中,如何满足这些需求,如何深化区域内各国宏观经济政策特别是金融政策的协调与合作的问题就现实地摆在我们面前。以最优货币区理论为基础进行分析,无论是CAFTA经济体的开放性、成员国经济增长的相关性、宏观经济政策目标的一致性、外部冲击的对称性,还是金融一体化程度,都表明在CAFTA框架下构建区域内宏观金融政策协调机制具有可行性。CAFTA成员国的货币政策协调应该是一个渐进的过程,在这个进程中实现宏观金融政策协调的策略,应从加大货币政策国际协调的实际操作、实行CAFTA内部生产要素自由流通以及金融政策协调一致三个方面着手进行。

The Finance Policy Coordination Among the Member of CAFTA on Base of the Optimization Monetary Area Theory

Following the implementation of the CAFTA,the investment and the trade integration in the region will certainly coordinate the macroscopic economical policy.Therefore,in the process of implementation,there are many questions to be solved,such as,how to meet these needs and to deepen every country's macroscopic economic policy,especially the financial policy coordination.This article analyzes the feasibility of the macroscopic economical policy coordination on the base of the optimization monetary area theory.The relevance of economy growing in the member countries,the uniformity of macroscopic economical policy goal,exterior impact symmetry and the financial integration degree are analyzed.Then,some suggestions are provided,such as,to enlarge the coordination of the monetary policy and accelerate the free trade of production material in the interior of CAFTA as well as the financial policy coordination.