The Exchange Rate System Choice In The Developing Country During The Capital Account Opening Procession

The present international exchange rate system entrusts each country with the freedom of choosing different exchange rate system, because the different economical development condition has the different exchange rate system arrangement, the reasonable exchange rate system arrangement will be advantageous to promote economical development fast and achieve inside and outside economic equilibrium goal.Firstly, The article introduced the developing nations' history of exchange rate system and the present situation from Gold-oriented Monetary System to the Bretton woods system, then to the Jamaican system again. Introduced exchange rate system characteristic and the choice reason of developing nation in various stages, and reviewed the capital account open situation. This article carried on the analysis on a series of economic environment the developing nation facing to. The economic environment change has the extremely important influence on the developing nation exchange rate system choice.Secondly, this article summarized the exchange rate system choice theory in the different international currency system time and the recent development of exchange rate system choice theory, mainly introduced middle system vanishing theory, the pardoned crime and the fear fluctuation theory. At the same time, theoretically this article has specifically analyzed the relationship between the exchange rate system choice and the capital account opening degree.It analyzed the exchange rate system choice question. in the capital account opening advancement in the developing nation.Once more, whether there is remarkable relevance between the different exchange rate system and the national economical variable? The article has carried on the real diagnosis analysis to the developing nation exchange rate system arrangement and the correlation economic relevance. After that this article also has conducted the real diagnosis research to the relationship between the exchange rate system and the economical achievements, separately grew the relations to the exchange rate system and the inflation relations as well as the exchange rate system and the economy to carry on the thorough analysis,which was for the purpose of studying the principle and the experience through such analysis which in the developing nation exchange rate system choice process should follow.Finally introduced our country exchange rate system arrangement present situation as well as existence question, and will propose our country exchange rate system reform near future and the forward plan. And the utilization measurement model has carried on the analysis between the Chinese exchange rate system and the economical achievements relevance.