货币制度回归金本位的可行性分析_金融研究论文_证券金融论文.docVIP

货币制度回归金本位的可行性分析_金融研究论文_证券金融论文 货币制度回归金本位的可行性分析_金融研究论文_证券金融论文 摘要：随着时间的推移，国际市场上由于金融危机而引起的轩然大波也渐渐的得到了平息。然而，就在各国都在为经济新一轮的涅槃而摩拳擦掌之时，国际间货币市场却看似余波未平。近年来，美元与他国主要货币之间的汇率持续走低，有些甚至跌至了近四十年来的谷底；而同时，美元汇率的不稳定性也使得美国的主要交易对手普遍对之产生了信任危机。例如，在2008年末，当国际油价在100美元大关处徘徊不定之时，以阿联酋、卡塔尔为代表的一些国家都曾考虑用其他主要货币来替代美元作为国际间油价的计价单位。就在这个时点上，一些知名的经济学家公开呼吁国际社会摒弃美元，回归金本位制。那么，在当今的经济大环境下，回归金本位制是不是一个好的选择？它又有着怎样的可行性？本文通过着重分析回归金本位制的优劣之处，试图对这一个问题进行探讨。 　　关键词：金本位制 国际市场 金融危机 　　 　　Serving as a main coinage for over one century, the gold standard does has its merits. First, the exchange rate fixed under the gold standard successfully avoided the uncertainty caused by the fluctuating rate, which would definitely help to stabilize the world trade. Second, thanks to the symmetry of the gold standard, not a single country could enjoyed its privilege in this system. It is then each countrys obligation to intervene its forEign exchange market. Third, since each central bank was asked to pin its gold price at a fixed level, the money supply of a country would never be able to go up more quickly than its actual demand and a country thus could elude the risk of inflation. 　　However, the idea of US dollar returning to the gold standard is merely an impractical windbaggary. 　　Firstly, judging from a historical and philosophic point of view, there are always necessity and objectivity lying in the roads toward the revolution of a certain kind of thing. Actually, the exact reason that paper standard replaced the once prevailing gold standard was that the existence of the gold standard seriously suppressed the development of the world economy. Owing to the limit of the gold reserves in each country and to the low efficiency of the exploitation of gold, the amount of money supply could only share a comparatively slow rise in the gold standard system. Statistic shows that the gold reserves throughout the world was around 386 tons in year 1900 and the annual output of worldwide gold has kept comparatively stable since the middle per