后金融危机时期中日韩货币合作研究

后金融危机时期,基于共同利益的需求,东亚货币一体化成为一个不可逆转的发展趋势。中日韩3国货币合作在东亚区域货币一体化过程中起着至关重要的作用。3国货币合作具有经济基础:3国经济力量雄厚,产业结构和资源互补性强,贸易增长迅速,汇率波动差异趋小,货币政策方向也渐趋一致。计算3国货币合作的OCA指数表明,与危机前相比,3国进行货币合作的成本已经有了明显改善,3国2011年的OCA指数与1995年欧洲各国与德国间的OCA指数相近,这表明与当初的欧盟相似,3国已具备进行深入货币合作的条件。人民币和日元的协调与合作对3国货币合作具有重要意义和现实基础,中国应谨慎而积极地分阶段推进人民币国际化进程。

Research on Monetary Cooperation among China, Japan, and Republic of Korea in Post Financial Crisis Era

In Post Financial Crisis Era,based on common interests,the trend of monetary integration in East Asia becomes irreversible.Monetary cooperation among China,Japan,and Republic of Korea plays a vital role in the process of regional monetary integration in East Asia.The three countries' monetary cooperation has economic bases due to the following facts : They have strong economy;their industrial structure and resources are highly complementary;multilateral trade is growing rapidly;the difference of exchange rate fluctuations tends to be small;and the monetary policy is in the same direction.The calculated OCA index indicates that the cooperation cost of the three counties has been dramatically lowered compared with that before the crisis.The OCA index among three counties in 2011 is similar to the index between European countries and Germany in 1995,which means that the conditions of in-depth monetary cooperation among the three countries have already matured.Coordination and cooperation between RMB and yen is significant to monetary cooperation of the three countries.China should carefully and actively promote the internationalization of RMB in stages.