钉住汇率制度与金融安全

全球金融经济一体化，特别是国际资本的高度流动对包括中国在内的一些发展中国家实行的钉住汇率制度提出了挑战。在资本市场日益开放的条件下，传统的钉住汇率制度不利于维持货币政策的独立性，并会降低国内企业风险防范的意识和能力，不利于保障一个国家的金融安全。钉住汇率制度是导致东南亚国家近年爆发货币与金融危机的一个重要原因。因此，我国应对现行的钉住汇率制度进行改革，逐步形成真正的有管理的浮动汇率制度，为保障我国的金融安全提供适宜的制度条件。

Fixing Exchange Rate System and Financial Security

The financial globalization, especially the rapid flo w of international capital, challenges the fixing exchange rate system in the deve loping countries including China. The capital market is more open, in this condi tion the traditional fixing exchange rate system is not favorable to preserve th e independent currency policy, at the same time the enterprises' sense of risk a nd protection will be subdued. The fixing exchange system is one of the reasons for financial crisis in southeastern Asia. Therefore, the current fixing exchang e rate system in our country should be reformed; a real floating rate should be developed, so as to offer feasible system condition for financial security.