矩阵式国际资金流量表的编制与应用
|
摘要
文章运用世界主要国家公布的国际收支平衡表(BOP),基于国内资金流量表的编制理论以及IMF的《国际收支手册》相关标准,对账户式国际资金流量表(I-FOFM)进行编制,以表中若干平衡关系为基础,借鉴社会核算矩阵(SAM)的表式结构,结合经常项目差额、储备资产和净误差遗漏项,构建了"国家×交易"的矩阵式国际资金流量表体系,并在此基础上,深入分析主要发达国家和发展中国家的直接投资、证券投资、储备资产等资本流动现象。
Based on the complication theory of domestic capital flow statement and the relevant standards of IMF's Balance of Payments Manual,this paper makes use of the Balance of Payments(BOP) published by major countries in the world to compile the account international flow of funds matrix(I-FOFM). The paper relies on several equilibrium relationships in the statement,uses for reference the tabular structure of the social accounting matrix(SAM), and combines with the current account balances, reserve assets and net error omissions to construct the "country by transaction" matrix international capital flow statement system, on the basis of which the paper makes an in-depth analysis of capital flows, including direct investment, portfolio investment and reserve assets, in major developed and developing countries.
Based on the complication theory of domestic capital flow statement and the relevant standards of IMF's Balance of Payments Manual,this paper makes use of the Balance of Payments(BOP) published by major countries in the world to compile the account international flow of funds matrix(I-FOFM). The paper relies on several equilibrium relationships in the statement,uses for reference the tabular structure of the social accounting matrix(SAM), and combines with the current account balances, reserve assets and net error omissions to construct the "country by transaction" matrix international capital flow statement system, on the basis of which the paper makes an in-depth analysis of capital flows, including direct investment, portfolio investment and reserve assets, in major developed and developing countries.
引文
[1]Meade J E.The Theory of Customs Unions[J].Economica,1957,24(93).
[2]Mundell R A.International Economics[M].New York:The Macmillan Company,1968.
[3]Kouri P J K,Porter M G.International Capital Flows and Portfolio Equilibrium[J].Journal of Political Economy,1974.
[4]Johnson H G.Destabilizing Speculation:A General Equilibrium Approach[J].Journal of Political Economy,1976,84(1).
[5]Marwah K,R Klein L.International Capital Flows and Exchange Rates[Z].Flow of Fuds Analysis:A Handbook for Practitions,M.E.Sharpe,1983.
[6]Krugman P R.It's Baaack:Japan's Slump and the Return of the Liquidity Trap[J].Brookings Papers on Economic Activity,1998,29(2).
[7]Kin H M.Globalization of International Financial Markets:Causes and Consequences[J].Eastern Economic Journal,1999.
[8]Von Hagen J,Zhang H P.Financial Development,International Capital Flows,and Aggregate Output[J].Journal of Development Economics,January,2014,(106).
[9]Vos Rob,De Jong N.Trade and Financial Flows in a World Accounting Framework:A Balanced WAM for 1990[J].Review of Income and Wealth,1995.
[10]Tsai P J.International Equity Flows and Country Funds[J].Journal of International Financial Markets,Institutions and Money,2009.
[11]张南.国际资金循环统计框架与金融压力测量[J].经济统计学(季刊),2013,(1).
[12]Copeland M A,Tracing Money Flows Through the United States Economy[J].American Economic Review,1947,37(2).
[2]Mundell R A.International Economics[M].New York:The Macmillan Company,1968.
[3]Kouri P J K,Porter M G.International Capital Flows and Portfolio Equilibrium[J].Journal of Political Economy,1974.
[4]Johnson H G.Destabilizing Speculation:A General Equilibrium Approach[J].Journal of Political Economy,1976,84(1).
[5]Marwah K,R Klein L.International Capital Flows and Exchange Rates[Z].Flow of Fuds Analysis:A Handbook for Practitions,M.E.Sharpe,1983.
[6]Krugman P R.It's Baaack:Japan's Slump and the Return of the Liquidity Trap[J].Brookings Papers on Economic Activity,1998,29(2).
[7]Kin H M.Globalization of International Financial Markets:Causes and Consequences[J].Eastern Economic Journal,1999.
[8]Von Hagen J,Zhang H P.Financial Development,International Capital Flows,and Aggregate Output[J].Journal of Development Economics,January,2014,(106).
[9]Vos Rob,De Jong N.Trade and Financial Flows in a World Accounting Framework:A Balanced WAM for 1990[J].Review of Income and Wealth,1995.
[10]Tsai P J.International Equity Flows and Country Funds[J].Journal of International Financial Markets,Institutions and Money,2009.
[11]张南.国际资金循环统计框架与金融压力测量[J].经济统计学(季刊),2013,(1).
[12]Copeland M A,Tracing Money Flows Through the United States Economy[J].American Economic Review,1947,37(2).