女孩 發問時間: 社會與文化語言 · 9 年前

因為作業需要引用到一篇英文文章,懇請翻譯高手幫忙翻成中文(續

Perhaps surprisingly, we find that the degree of financial openness reduces the effect of capital inflows on asset prices. From this result we could argue that, although they may be useful in the short-run, capital controls will not be able to prevent capital inflows from creating the vulnerabilities in domestic financial markets permanently. In fact, if these findings are any guide, in the long run the introduction higher capital controls may help

amplify these vulnerabilities, hence they must be used with care. Perhaps a better option, that emerging economies are already using, is to deal with large capital inflows implementing sterilization measures, to mitigate currency appreciation, encouraging capital outflows, and tightening credit growth by increases in lending rates and required reserves.

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  • Julie
    Lv 5
    9 年前
    最佳解答

    我們驚訝地發現, 金融體系愈開放愈能降低資金流入對於資產價格的影響. 由此結果可以得知, 金融管制短期也許有效, 長期來看它卻無法避免資金在本國金融市場不佳時流入國內. 如果這些發現可供做為指引, 則長期來看, 嚴格的金融管制可能使狀況惡化, 因此必須謹慎應對. 有一個更好的選擇, 是有些新興國家已開始使用的, 就是緩和貨幣升值, 鼓勵資金流出, 並藉由提高利率及準備金來緊縮信用.

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  • 9 年前

    可能讓人驚訝的是,我們發現的金融開放程度降低資產價格對資本流入的影響。從這一結果我們可以辯稱雖然他們可能有用的短期而言,資本管制不會能夠阻止資本流入永久創建國內金融市場的安全性漏洞。事實上,如果這些研究結果是任何指南,長遠來說引入更高的資本管制可能説明放大這些漏洞,因此必須小心使用。或許更好的選擇,新興經濟體已經在使用,是應付大量的資本流入,實施消毒措施,以減輕人民幣升值,鼓勵資本流出,,收緊信貸增長的貸款利率的增加和所需的儲備。

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