Study On The Suitable Foreign Exchange Scale Of Our Country In Open Economy

Foreign exchange reserve is the core of the international monetary system, and also an important issue in the international financial field, it is a country to adjust the balance of international payments, debt repayment and the ability to respond effectively to the international financial crisis, has been the international financial institutions and monetary authorities of the countries concerned. Since 1994 the reform of the foreign exchange management system, our country's foreign exchange reserves have maintained a sustained, rapid growth, the deadline for the end of 2005 reached 818.9 billion U.S. dollars, ranking the second largest in the world. In this background, whether our foreign exchange reserves are excessive, how many the suitable scale of China's foreign exchange reserves should be, and that if it is excessive which measures should be taken become a focus of research.This article take the suitable scale of our country's foreign exchange reserve as the research object, established the model to measure the suitable scale, and has carried on the empirical analysis, finally proposed policy measurements of the maintenance suitable scale. This article divides into four chapters. The first chapter introduction, introduced the research background and significance of studies the our country foreign exchange reserve moderate scale, the achievement obtained by the domestic and foreign scholars. The second chapter foreign exchange reserve outline, introduced the related theory of international reserve and foreign exchange reserve, the development course of foreign exchange reserve in our country, has analyzed its fast growth reason and to our country economy influence, and has carried on the comparison and the analysis to the domestic and foreign related foreign exchange reserve suitable scale theory. The third chapter our country foreign exchange reserve suitable scale surveying, carried on the limits according to our country actual situation to the foreign exchange reserve moderate scale connotation, has analyzed the fact that influencing foreign exchange reserve suitable scale , unified our country's actual situation to establish the model to survey the suitable scale of in our country foreign and unifies the statistical data in 1994-2005, to carry on the empirical analysis, obtained the conclusions that the foreign exchange reserve is excessive in our country from 2000;The fourth chapter strengthens the management of foreign exchange reserve in our country, has analyzed the misunderstanding of the foreign exchange reserves and put forward the management policy from overall to concreted aspects.