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来源:百度知道 编辑:UC知道 时间:2024/06/28 15:50:38
汇率制度影响FDI
多数学者在研究汇率与对外直接投资(Foreign Direct Investment,FDI)关系时侧重于FDI对汇率的影响,然而汇率对FDI的影响同样不可小视。学者们往往把汇率对FDI的影响归之于汇率制度选择对资本流动影响方面。在固定汇率制度下,汇率的稳定性一定程度减少了FDI所面临的外汇风险,短期内FDI可以不用考虑汇率问题。但是20世纪90年代以来两次全球性金融危机的大爆发,却又都是从执行固定汇率制度的国家开始,其对后来的FDI所产生的影响也是显而易见的。而在浮动汇率制度下,汇率波动的幅度与时间很难预测,汇率对FDI的影响程度也很难定量估计。
在吸引FDI方面,固定汇率比浮动汇率有优势。不过,这是否与经验数据相吻合还有待于验证,但“固定汇率迟早不能维持”几乎已经成为公认的事实,浮动汇率制度是大势所趋。
在分析汇率制度对FDI的影响时,主要从两种最基本的汇率制度(固定汇率和浮动汇率)入手进行分析

FDI impact on exchange rate system
The majority of scholars in the study of exchange rate and foreign direct investment (Foreign Direct Investment, FDI) relations focused on the impact of FDI on the exchange rate, however, the impact of exchange rate on FDI can not be the same. Scholars have tended to rate the impact of FDI comes to choose exchange rate regimes impact on capital flows. At a fixed exchange rate system, the stability of the exchange rate to some extent by a decrease of FDI foreign exchange risk faced by the short term, FDI can not consider the exchange rate issue. But the 20th century, twice the world since the 90's a big financial crisis broke out, but from the implementation of a fixed exchange rate system began, and its subsequent impact of FDI is also obvious. In the floating exchange rate system, exchange rate fluctuations, it is difficult to predict the extent and timing of the exchange rate on the impact of FDI is also difficult to quantify estimated.