英国代写assignment范文:资本管制在经济政策中的作用
论文作者:www.51lunwen.org论文属性:作业 Assignment登出时间:2016-11-18编辑:cinq点击率:7939
论文字数:3000论文编号:org201611180912468750语种:英语 English地区:英国价格:免费论文
关键词:代写英国作业assignment范文资本管制
摘要:英国代写assignment范文,主要内容是讲述资本管制的基本概念,并且以中国作为研究对象,阐述资本管制在经济政策中的作用。
Abstract 摘要
资本投资和金融全球化在全球金融市场的世界中已经浮出了很长一段时间。资本流动自由化已经提出了一些国家的资本管制的重要性,以实现他们的经济增长。本文将简要介绍资本管制,并寻求资本管制与经济政策的两个主要因素,如货币政策和财政政策的关系。资本管制与经济政策的运用,将与资本管制的利益加以解释。最后,将有一个国家,使用资本管制,实现其发展和经济增长的一个例子。
Globalization of capital investment and finance has surfaced for a long period of time in the world of global financial market. Capital flow liberalization has brought up the importance of capital controls for some countries to achieve their economic growth. This paper will explain briefly about capital controls and seeks the relationship of capital controls with two main elements of economic policy such as monetary policy and fiscal policy. The use of capital controls with the economy policy will be explained together with the benefit of capital controls. Finally there will be an example of a country that uses capital controls for achieving its development and economic growth.
The Useful of Capital Controls in Economic Policy 经济政策中的资本管制
The Description of Capital Controls 资本管制的描述
发达国家和发展中国家的国际资本流动变得不稳定,一些国家的资本流动需要加以控制。资本管制是限制流动的资本流动或退出国家的限制。资本流动可能是银行贷款、投资组合投资和外国直接投资的形式。短期投资组合投资和银行贷款的控制是相当必要的,因为他们是相当危险的,并且存在过度的风险。如果他们在政治上有保证对于长期信贷和外国直接投资是风险较,。
Since the failure of Bretton Woods system in 1971, the international capital movements within developed and developing countries become unstable and for some countries the capital flows need to be controlled. Capital controls are restrictions to regulate the movement of capitals which are flowing in or out of the country. Capital flows may be in forms of bank loans, portfolio investment and foreign direct investment. The controls of short terms portfolio investment and bank loans are quite necessary since they are quite risky because of the roll-over risks. For long term credits and FDI are less risky if they are politically guaranteed.
Looking back to the
history of capital controls there were two different perspectives. The first was Keynes who was the pioneer of the capital controls regime. Keynes was supported by other known economists such as James Tobin, Dani Rodrik and Joseph Stiglitz. The main ideas behind their view are that financiers are really powerful to pursue profits in every part of the world and ignoring other factor such as labor (Carlos F. Liard-Muriente, 2007). Keynesian view assumes that a fragile financial system is caused by the free movement of capital as volatile capital flows and it will lead to destructive of important asset prices such as exchange rate, equities and real estate. The second was neoclassical view which supports capital liberalization. Neoclassical view considers capital controls as a bad policy because they are not effective and not useful because markets are perfect and that financial and real assets have no differences (Singh, 2000).
The Description of Economic Policy
Economic policy is a policy that analyzes the action in public economies. It analyzes three different stages such as the choice of the level of institution, the preferred choices of government and the identification of objectives and social preferences (Nicola Acocella, 2005). In relation with capital controls the main of economic policy that will be discussed are monetary policy and fiscal policy.
2.1 Monetary Policy
Monetary policy is tasked mainly to control supply of money and interest rate. The capital flows have to be under controlled by a prudent monetary poli
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