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东南亚金融危机,是泰国、马来西亚、印尼等经济体从高速增长到陷入中等收入陷阱的转折点。对东南亚金融危机的研究发现,政府债务危机只不过是经济基本面恶化的外在直观表现。对固定汇率制度的执着维护,则加速恶化了三国的经济金融环境,是政府政策的严重失误。国际游资的攻击,只不过是压垮骆驼的最后一根稻草。中等收入国家,在经济放缓过程中,极易造成经济的泡沫化、金融化、空心化,政府要避免盲目刺激,防止经济问题向金融系统的转移,从构筑推动实体经济增长的新动力着手。
The financial crisis in Southeast Asia is a turning point for economies such as Thailand, Malaysia and Indonesia from rapid growth to falling into the middle-income trap. The study of the financial crisis in Southeast Asia found that the government debt crisis is only an outward visual manifestation of the deteriorating economic fundamentals. Sticking to the fixed exchange rate system, exacerbating the economic and financial environment of the three countries is a serious mistake in government policies. International hot money attack is only the last straw that breaks the camel. Middle-income countries, in the process of economic slowdown, can easily cause the bubble, the financialization and the hollowization of the economy. The government should avoid blind stimulus and prevent economic problems from being transferred to the financial system. From the perspective of building a new impetus to promote the growth of the real economy .