In the transitional period of China's economic administration system when the market economy is increasingly open, the existing USD-pegging regime of exchange rate weakens not only the independence of China's monetary policy but the capability to cope wit
In the transitional period of China's economic administration system when the market economy is increasingly open, the existing USD-pegging regime of exchange rate weakens not only the independence of China's monetary policy but the capability to cope wit
摘要在中国逐步走向开放经济，经济体制转轨的背景下，现行的盯住汇率制度降低了货币政策的独立性，制约了利率市场化改革的进程，减弱了应对外部冲击的能力，进一步增强了外汇储备的内生性和汇率风险。