國第流動性의 供給메카니즘과 最適供給을 위한 調整方案

• 영문명: A Study on the Supply Mechanism of International Liquidity and Adjustment Policy for Optimum Supply of International Liquidity
• 발행기관: 건국대학교 경제경영연구소
• 저자명: Yong Deuk Cho(趙龍得)
• 간행물 정보: 『상경연구』제13권, 83~113쪽, 전체 31쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 1988.09.15

영문 초록

International liquidity depends upon the objectives of national and international economic policy and the process of adjustment of the various types of balance of payment disequilibrium. Therefore, international liquidity among countries is an important factor for growth of world economy, expantion of international trade and increasing international capital transaction. A demand for International liquidity is not only a function of growth of world trade and the ratio of gross reserves to imports but also is influenced by factors such as confidence and stability, exchange rate movements, and fiscal and mometary policies of each country. A supply of international liquidity consists of all the resources that are available to the monetary authorities for the purpose meeting balance of payment deficits. Reserve assets that are readily available include holdings of gold, foreign exchange, reserve positions in the IMF and SDRs. We have to analyse demand and supply together to see how they interacter and how demand/supply imbalance affect a nations’ policy decisions. This paper analyses the supply mechanism and adjustment policy for optimum supply of international liquidity. In the first section of the paper, the characteristics and role of international liquidity are presented. In the second section, We analyse the factors of demand for international liquidity and examines the mechanisms of adjustment and resources of international liquidity supply. In the third section, We discuss the mechanisms of international liquidity supply based on resources of international liquidity supply (gold, foreign exchange, reserve positions in IMF, and SDRs) and examines the characteristics of international reserves. The expansion of world trade will create greater payments disequilibrium and subsequently need more liqudity. Thus, in the last section, We present the adjustment policy for optimum supply in international liquidity and suggest steps for optimum liquidity supply. Policies for the optimum liquidity supply are expansion of the IMF quota and extra allocation of SDR. Also adjustment of demend-supply of the international reserve through the international money market, freely fructuating exchange rate system, and the operation of a multiple-key currency system are suggested for optimal liquidity supply in the paper.

목차

Ⅰ. 序論

Ⅱ. 國際流動性의 性格과 役割

Ⅲ. 國際流動性의 需要의 要因과 流動性供給 財源의 構成

Ⅳ. 國際流動性의 供給메카니즘과 그 特性

Ⅴ. 國際流動性의 需要增加에 따른 國際리저브의 調整方案

參考文獻

SUMMARY