變動換率制度에 있어서 國際通貨

• 영문명: International Currency in the Floating Exchange Rate System
• 발행기관: 건국대학교 경제경영연구소
• 저자명: Hee Young Song(宋熹永)
• 간행물 정보: 『상경연구』제21권, 141~171쪽, 전체 31쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 1996.08.15

영문 초록

This paper analyzes the floating exchange rate system and its evaluation which is adapted in industrialized countries since 1973. Especially this paper examines the changes of exchangerate decision theory in two separate periods of 1980’s and before. Finally, this paper analyzes interventions in foreign exchange market and the international monetary orders. Based on the findings of researches, we show that the supply of an international currency is determined by the magnitude of trade deficit of the currency-issuing country and the willingness of holding international reserves in the part of other countries. On the other hand, its demand depends on many factors such as, the scale of international economic transactions, the settlement periods and efficiency, returns of the currency, the movements of international reserve balances, and the frequency of exchange-rate movements. Finally, this study suggests that the internationalization of Korean won would invite a relatively large demand of international currency, unstabilizing speculations from other countries, and unstable movements of exchangerate through the increasing risk of domestic fluctuations due to the foreignexchange market interventions.

목차

Ⅰ. 序論

Ⅱ. 變動換率制度로의 移行背景과 그 評價

Ⅲ. 國際通貨의 需給決定要因

Ⅳ. 變動換率制度의 展開와 換率決定理論의 變化

Ⅴ. 外換市場介入의 效果와 國際通貨秩序

Ⅵ. 結論

參考文獻

SUMMARY