论文部分内容阅读
本文运用相关性分析和面板数据模型,研究东亚金融一体化进程中国际消费风险分担的水平、动态演进及影响因素,得出金融一体化并未有效推动东亚的国际消费风险分担,其原因与东亚地区金融一体化及贸易开放度较低、金融发展较为滞后、消费平滑的交易成本较高有关。应从发展区域资本市场和借贷市场、完善跨国财政转移支付、提高商品和要素的跨国流动性等方面,完善东亚的国际消费风险分担机制。
This paper uses the correlation analysis and panel data model to study the level, dynamic evolution and influencing factors of international consumer risk sharing in the process of financial integration in East Asia. It concludes that financial integration does not effectively promote the international consumer risk sharing in East Asia. Regional financial integration and trade are less open, financial development is lagging behind, and consumer spending is relatively high. The mechanism of international consumer risk sharing in East Asia should be perfected in terms of developing regional capital markets and lending markets, perfecting cross-border fiscal transfer payments, and improving cross-border liquidity of goods and services.