톧쫵싛싛얷풪쟸닆헾헾닟폫믵뇒헾닟뗄늻뛔돆뷡릹쯎ꆡꆡ퇮캰맺ꆡꆡ쓚죝쳡튪:얷풪쟸닆헾헾닟뫍믵뇒헾닟늻뛔돆뗄쿖탐룱뻖쫇얷풪쟸룷맺톰쟳튻쳥뮯맽돌훐뗄튻룶뷗뛎,쫇룷맺쿠뮥췗킭뗄뷡맻,떫늻쫇ퟮ폅뗄훆뛈낲업ꆣ얷풪쟸룷맺닆헾헾닟퓚엤뫏믵뇒헾닟뗄쪵볹훐튲퓚믽벫톰쟳킭뗷튻훂ꆣ캴살얷풪쟸닆헾헾닟폫믵뇒헾닟ퟟ쿲뛔돆뮯쫇뇘좻뗄쟷쫆ꆣ뛔돆뮯뗄슷뺶붫믡퇘ퟅ붥뷸떽평쓚늿탨쟳틽훂뗄훆뛈뒴탂랽쿲랢햹ꆣ얷풪뗄퓋ퟷ틑쪹믵뇒튻쳥뮯뗄캢맛뺭볃킧싊뗃떽쇋돵늽뗄쪵쿖,퓚뫪맛닣쏦튲뷸튻늽볓짮쇋쟸쓚룷맺뺭볃헾닟뫏ퟷ뗄쿠뮥틀삵탔ꆣ헢킩뚼캪캴살닆헾헾닟ퟟ쿲춳튻쳡릩쇋뫜뫃뗄췢늿뮷뺳ꆣ춳튻뗄믵뇒헾닟뫍훰늽춳튻뗄닆헾헾닟쯹닺짺뗄틧돶킧펦붫믡볌탸듸뚯얷훞튻쳥뮯뗄뷸돌ꆣ평믵뇒춳튻떽릲춬닆헾헾닟,퓙떽헾훎튻쳥뮯,펦룃쫇얷풪쟸캴살랢햹뗄랽쿲ꆣꆡꆡ맘볼듊ꆡ튻쳥뮯ꆡ닆헾헾닟ꆡ믵뇒헾닟ꆡ늻뛔돆뷡릹ꆡ탨쟳틽훂ꆡ훆뛈뒴탂ꆡꆡ럖샠뫅ꆡF150ꆡ컄쿗뇪쪶싫ꆡAꆡ컄헂뇠뫅ꆡ100429789(2002)0120044251ꆡꆡ냩쯦ퟅ얷풪뗄웴뚯,얷풪쟸룷맺믵뇒낲업ꆣ횮뫳럖컶헢훖늻뛔돆뷡릹뗄뺭볃킧훷좨짏붻,쟸쓚횴탐춳튻뗄믵뇒헾닟ꆣ뗬펦,ퟮ훕뗃돶뛔돆뮯뗄슷뺶붫믡퇘ퟅ붥뷸뚨얷훞믵뇒솪쏋퓋ퟷ믹놾뿲볜뗄ꆶ십쮹쳘떽평쓚늿탨쟳틽훂뗄훆뛈뒴탂랽쿲랢햹뗄샯뫕쳘쳵풼ꆷ맦뚨쇋볓죫믵뇒솪쏋돉풱맺뷡싛ꆣ쯹뇘탫듯떽뗄쯄쳵쟷춬뇪ힼ,뛔폚춳튻뗄닆헾헾닟쎻폐ퟷ돶튪쟳ꆣ십풼뛔룷맺닆헾튻ꆡ컄쿗ퟛ쫶폫맺볊뺭퇩뗄풼쫸캪:룷돉풱맺뗄돠ퟖ뫍햮컱늻쓜뎬맽웤GDP뗄3%뫍60%ꆣ헢틢캶ퟅ룷돉풱퓚쿖듺뢣샻뺭볃톧뗄럖컶뿲볜횮쿂,맺닆헾떱뻖퓚뷓쫜풼쫸뗄잰쳡쿂뿉틔뛀솢뺭볃쳥쾵뗄폐킧탔붫ퟮ훕놻웤쯹쳡릩뗄쫕뗘횴탐룷ퟔ뗄닆헾헾닟ꆣ평듋탎돉쇋얷풪죫퓙럖엤뫍풴엤훃뗄폐킧탔쯹뫢솿ꆣ샭쟸닆헾헾닟뫍믵뇒헾닟늻뛔돆뷡릹뗄쿖탐닩뗂ꆤ십쮹룱샗럲(RichardMusgrave)죏캪:룱뻖ꆣ틑폐컄쿗뛔얷풪쟸뗄퇐뺿훷튪벯훐캪듯떽뢣샻ퟮ폅,릫릲늿쏅펦횴탐쫕죫럖폚뛔믵뇒헾닟퓋탐믲뛔닆헾풼쫸랽쏦뗄쳖엤ꆢ풴엤훃뫍볛룱컈뚨죽듳횰쓜ꆣ컞릫싛짏,뛸짙볻냑뛾헟뷡뫏웰살첽쳖헢훖룱릲헾닟뗄뺺헹쳥쾵뗄쫕죫럖엤좡뻶폚룷훖뻖뗄뺭볃킧펦벰캴살랢햹뗄쟷쫆ꆣ놾컄쫗풴춶죫뗄쯹폐훆ꆢ볛룱벰닺돶뗄헻쳥뷡쿈럖컶닆헾솪냮훆뛔뺭볃뗄펰쿬,횸돶쿖릹,웤ퟮ훕떼훂뢣샻ퟮ폅뷶뷶쫇튻훖쟉뫏ꆣ탐뗄늻뛔돆뷡릹늢늻쫇얷풪쟸ퟮ폅뗄훆뛈틲듋,캪쪵쿖뢣샻ퟮ폅뺭볃쳥쾵탨튪릫릲' 1994-2008 China Academic Journal Electronic Publishing House. All rights reserved.
싛얷풪쟸닆헾헾닟폫믵뇒헾닟뗄늻뛔돆뷡릹ꆤ45ꆤ헾닟살쪵쿖퓚짧믡뺭볃룶쳥횮볤뗄쫕죫퓙훕쎿룶뗘쟸뷶뷶뗃떽쇋죎뫎릫릲닺욷샻틦럖엤;춬쪱릫릲늿쏅ퟛ뫏퓋폃닆헾헾닟뫍뗄튻늿럖,뛸뢶돶쇋릫릲닺욷퓶볓뗄좫늿믵뇒헾닟뿉틔쪵쿖뺭볃틔컈뚨뗄볛룱놣돖돉놾ꆣ헢뻍쫇쮵,솪쏋뗄룶쳥돉풱뚼폐튻룟쮮욽뗄닺돶뫍뻍튵ꋙꆣ십쮹룱샗럲뗄럖훖퓚짐캴듯떽엁샛췐ퟮ폅횮잰춣횹릫릲닺컶뿲볜쳡릩쇋퓚늻춬뗄닆헾쳥훆쿂퇐뺿닆욷짺닺뗄뚯믺ꆣ틲듋,럖즢뮯뗄뻶닟쳥쾵헾컊쳢뗄샭싛돶랢뗣ꆣ뇘붫떼훂릫릲닺욷짺닺쫽솿뗄늻ퟣꆣ쿠뛔떱뗘랽헾뢮퓋폃닆헾헾닟살컈뚨룷ퟔ뛸퇔,퓚춳튻뗄닆헾헾닟쳥쾵쿂,릫릲뻶닟뺭볃쪱,헾닟뗄폐킧탔붫믡쫜떽훆풼ꆣ퓚헟ힷ쟳쟸쓚좫쳥뻓쏱뗄뢣샻ퟮ듳뮯,헻쳥뾪럅뺭볃훐,떱뗘랽헾뢮춨맽복쮰듌벤뺭쟸폲쓚릫릲닺욷뗄뇟볊볛횵뻍믡뗃틔쪵볃쪱,평폚룶쳥늿쏅뿉틔듓쟸폲췢릺싲짌쿖ꋚꆣ욷뫍샍컱,듓뛸퓬돉쮽죋횧돶슩돶,쯵킡쇋럖즢뮯뗄뗘랽닆헾쳥쾵퓚컈뚨뺭볃ꆢ릫릲횧돶돋쫽,엲헍헾닟킧펦붫믡틲듋뛸쪵쿖쫕죫ퟮ폅럖엤벰쳡릩ퟣ릻뗄릫릲닺욷쫜떽쿷죵;떱뗘랽헾뢮춨맽랢탐햮좯뗄탎랽쏦뻟폐쓚퓚뗄뻖쿞탔,좻뛸럖즢뮯뗄뗘쪽죚춨뷰쪱,룃뗘쟸붫돐떣췢늿햮컱,믹랽닆헾튲폐뛔뺭볃늻뿉쳦듺뗄릱쿗ꆣ컒쏇폚퓙횧뢶맦퓲뫍샻싊틲쯘,쪵볊쫕죫믡평횪뗀벴쪹퓚튻룶릲춬뗄듳쫐뎡훐,릫릲닺쟸폲쓚틆떽쟸폲췢ꆣ뛸떱훐퇫헾뢮랢탐욷뗄쿻럑튲믡틲뗘쟸늻춬뛸뻟폐닮틬탔,햮좯죚춨뷰쪱,평폚놾뗄췢늿쇷뚯탔죧맻쯹폐뗄릫릲닺욷뚼평훐퇫닆헾살쳡춨뎣킡폚쓚늿쇷뚯탔,헢훖쓚늿햮컱뗄탎릩,뿧뗘쟸뗄릫릲쿮쒿붫쫇쟷폚튻훂뗄,헢쪽뿉틔폐킧뗘듌벤뺭볃늢뇜쏢쇋짧믡캴살쿔좻늢늻럻뫏뛔릫릲닺욷뛠퇹뮯뗄탨쟳ꆣ쫕죫쿲췢늿뗄틆ꆣ춬쪱,럖즢뮯뗄닆헾뗘랽헾뢮뿉틔헫뛔놾뗘쟸뻓쏱릫릲닺욷쿻쳥쾵튲늻샻폚뷢뻶릫욽뗄쫕죫퓙럖엤컊럑뗄쳘쫢탔살쳡릩쿠펦뗄뗘쟸탔릫릲닺쳢ꆣ퓚튻룶샍뚯솦튪쯘뿉틔ퟔ평쇷뚯뗄듳욷,틔듋쫊펦룷룶뗘쟸뻓쏱뗄쿻럑욫뫃ꆣ쫐뎡훐,뗘랽헾뢮닉좡뢺쫕죫쮰뗄탎쪽살릫릲닺욷짺닺헟뗄뛠퇹뮯뮹쓜릻탎돉릫릲쪵쿖룼캪욽뗈뗄쫕죫퓙럖엤믡퓬돉뢻죋틆닺욷짺닺뗄뒴탂뚯솦뫍뺺헹톹솦,쳡릩룼돶뛸쟮죋틆죫뗄킧펦ꆣ룼캪욽뗈뗄쫕죫퓙듳뗄벼쫵뷸늽뗄뿉쓜탔,쟽쪹짺닺헟닉좡럖엤맽돌쫇냩쯦ퟅ놾뗘쟸죋뻹쫕죫쮮욽뗄ퟮ폐킧싊뗄짺닺랽쪽ꆣ듋췢,럖즢뮯뗄뗘쿂붵뛸쪵쿖뗄ꆣ샭탔뗄뺭볃룶쳥ퟜ쫇풸틢랽닆헾폐샻폚쪵쿖룼뺭볃뗄릫릲뻶닟믺톡퓱ퟔ벺쓜듓훐뛠쫜틦뛸폖늻뇘캪횮ퟶ돶훆,탎돉룼캪폐킧싊뗄릫릲닺돶쮮욽ꆣ죧릱쿗뗄뢺쫕죫쮰쿮쒿,벴듦퓚ퟅꆰ듮뇣뎵ꆱ쿖쿳ꆣ퓚풴엤훃랽쏦,폈웤쫇퓚릫릲닺맻튻룶뗘쟸탨튪춨맽헷쫕뗘랽쮰살캪릫릲욷쫊떱닺돶쮮욽뗄쳡릩랽쏦,훐퇫헾뢮뇈쿮쒿죚쪱,룃쿮쒿쫕틦폫헦쪵럑폃뗄뛔뗘랽헾뢮쳥쾵튲룼캪돉릦ꆣ럖즢뮯뗄뻶닟뇈맘쾵뿉틔뇜쏢늻뇘튪쿮쒿뗄쪵쪩;뛸떱쳥쾵쿂뗘랽릫릲쿮쒿믹뷰췪좫살ퟔ폚훐퇫닆헾,쎿룶뗘쟸퓚뷸탐뇟볊떥캻뗄릫릲닺욷짺닺뻶닟쪱,췹췹뷶뷶뾼싇쟸쓚뻓쏱쪱,룃뗘쟸평폚뷶돐떣쿮쒿죚돉놾뗄뫜붫듓헢튻뇟볊떥캻닺욷훐믱뗃쫕틦죧뫎,뛸늻뾼싇헢훖릫릲닺욷뇟볊떥캻퓶볓뗄헻ꋙMusgrave,R.:TheTheoryofPublicFinance,쳥짧믡쫕틦ꆣ싼뿋ꆤ냂뛻즭NewYork:McGraw2Hill,1959.(MancurOlson)ꋚOlson,M.Π:AnEconomicThe2뫍샭닩뗂ꆤ퓳뿋뫀퓳(RichardZeckhauser)횸oryofAlliances,ReviewofEconomicsandStatistics,돶:헢붫떼훂ꆰ튻룶늻돤ퟣ뗄닺돶쮮욽ꆱ,ퟮ,1966.' 1994-2008 China Academic Journal Electronic Publishing House. All rights reserved.
ꆤ46ꆤ얷훞2002쓪뗚1웚킡럝뛮,틲뛸뻍폐튻훖뺡뿉쓜듳뗘삩헅뗘죫뇤뮯럖뇰웰떽쇋%ꆢ%뫍30.랽릫릲럾컱쮮욽뗄뚯믺ꆣ틲듋,뗘랽닆헾8%뗄닆헾뗖쿻ퟷ폃ꋛꆣ평폚헾훎짏뗄욫뗄듦퓚뿉틔퓚뚯첬뫍뺲첬솽룶랽쏦쳡짽릫뫃폐쯹늻춬,볓쓃듳뗄닆헾솪냮쳥쾵폫쏀릲닺욷쳡릩뗄폐킧탔ꆣ맺뫍컥룶얷훞맺볒쿠뇈뷏,웤쯹쳡릩뗄ퟔ춳튻뗄훐퇫닆헾폫럖즢뮯뗄뗘랽닆헾뚯컈뚨웷뗄맦쒣놣돖퓚튻룶뷏뗍뗄쮮욽솽훖탎쪽뚼폐ퟅ룷ퟔ쿔훸뗄폅뗣폫늻ퟣꆣ짏,틲듋,웤뛔쫕죫뇤뮯뗄뗖쿻ퟷ폃풶늻벰닆헾솪냮훆쫇붫헢솽훖벫뛋뗄탎쪽뷡뫏웰쏀맺뫍컥룶얷훞맺볒쓇퇹듳ꆣ헢튲쮵쏷쇋살뗄ퟩ횯탎쪽,쫇퓚벫뛋뗄훐퇫닆헾폫벫퓚솪냮닣듎짏,퓋폃닆헾헾닟릤뻟맦쒣듳뛋뗄럖즢뮯닆헾횮볤뗄튻훖췗킭ꆣ퓚솪냮킡횱뷓뻶뚨쇋웤뛔쫕죫뇤뮯욽뫢ퟷ폃뗄듳쳥쾵쿂춬쪱듦퓚ퟅ훐퇫헾뢮뫍듎훐퇫헾킡ꆣ춬쪱뮹횵뗃힢틢뗄쫇:평쓄벶헾뢮살뢮,훐퇫헾뢮싄탐컈뚨뺭볃,쪵쿖ퟮ쫊쫕죫퓋ퟷ닆헾컈뚨웷,웤ퟷ폃뷡맻쫇늻춬뗄ꆣ뗄퓙럖엤벰쳡릩쳘뚨릫릲닺욷뗄죽듳믹뒡떱닆헾컈뚨웷쫇폐솪냮닣듎살쳡릩쪱,헢횰쓜,듎훐퇫헾뢮쳡릩싺ퟣ룷ퟔ맜쾽쟸뻓퇹뗄훐퇫닆헾쳥쾵뻍뿉틔놣횤폐킧뗘뛔뾹쏱욫뫃뗄릫릲닺욷뫍럾컱,뇜쏢쇋릫릲닺믵뇒솪쏋쓚늿뿧뗘쟸뗄럇뛔돆탔뺭볃돥욷쿻럑랽쏦뗄뢣샻쯰쪧뫍벼쫵샋럑ꆣ붨솢믷,뛸퓚럖즢뮯뗄뗘랽닣듎짏살쳡릩ퟔ뚯튻룶샭쿫뗄닆헾솪냮훆쳥쾵,뻍쫇튪뷢뻶컈뚨웷붫믡뢶돶뫜듳뗄돉놾ꆣBayoumi뫍퓚훐퇫닣듎짏펦룃벯훐뛠듳뗄릫릲풤쯣,Masson횸돶퓚볓쓃듳평쪡헾뢮퓋폃닆헾훐퇫뫍뫍뗘랽헾뢮횮볤닆헾횰쓜죧뫎살뷸돠ퟖ헾닟살듌벤쮽죋쿻럑쪱,웤ퟷ폃킧맻탐잡떱뗄뮮럖뗄컊쳢ꆣ뷶뷶쿠떱폚솪냮돠ퟖ헾닟ퟷ폃폚룃쪡쪱뗄틔짏뗄샭싛럖컶뇭쏷:솪냮훆듓뺭볃1Π3훁1Π2,웤폠뗄ퟷ폃킧맻놻웤쯻쪡럝뗄닣쏦짏살붲,쫇샭쿫뗄헾뢮ퟩ횯탎쪽ꆣ퓚닆헾펯폠쯹뗖쿻ꋜꆣ뿂쓏(Kenen)퓲잿뗷얷훞믵뇒솪쏋탎돉폫랢햹뗄샺돌훐,튲폐쇋룟쮮욽뗄닆헾튻쳥뮯쯹듸살뗄닆헾틆탭뛠컄쿗횧돖닆헾솪냮훆뗄붨솢ꆣ퓧퓚횧뢶쓜솦,폐샻폚욽틖튻쳥뮯쯹틽훂뗄뗘1977쓪얷훞캯풱믡뗄MacDougauReport뻍쟸닮틬,쓜릻쪹뺭볃룼뷓뷼폚샭쿫뮯뗄ퟮ쳡돶,뛔폚튻룶뿉탐뗄EMU,탨튪룷맺GNP뗄5%ퟷ캪릫릲풤쯣,죸삭틁1십뚡(Sala2i2Martin)뫍죸뫕쮹(Sachs)뗄뛔쏀맺뗄퇐뺿컄헂횸돶,훐퇫헾뢮닆헾횧돶뛔폚뿧뗘쟸뗄쫕죫돥믷폐뫜잿뗄뗖쿻ퟷ폃ꋙSala2i2Martin,XavierandJeffreySachs:Fis2,쓜릻복짙calFederalismandOptimumCurrencyAreas:Evidence40%뗄돥믷ꋙꆣ맅뗂맾쳘forEuropefromtheUnitedStates,in:MatthewCanzo2(Goodhart)뫍쮹쏜쮹(Smith)뛔쏀맺ꆢ볓쓃듳neri,(eds.),Estab2뫍펢맺뗄닆헾솪냮훆뗄퇐뺿컄헂튲횸돶ꆱlishingaCentralBank:IssuesinEuropeandLessons쿖듦뗄솪냮닆헾쳥쾵좷쪵캪뺭볃컈뚨쳡릩.,Cambridge:CambridgeUniversity쇋폐볛횵뗄ퟷ폃ꆱꋚꆣ퓚ퟮ뷼뗄컄쿗훐,놴Press,ꆪ219,1992.폈쏗ꋚGoodhart,C.,:Stabilization,Euro2(Bayoumi)뫍십즭(Masson)춨맽쫽뻝쿔쪾쇋닆헾솪냮횧뢶퓚쏀맺뫍볓쓃듳폐뫜잿,1993.뗄컈뚨ퟷ폃ꋛBayoumi,T.:Financialintegrationandreal:솪냮닆헾헾닟춨맽쮰쫕ꆢ틆activity,Manchester,,1997.횧뢶ꆢ늹쳹뗈헾닟릤뻟뗄ퟛ뫏퓋폃,1995ꋜBayoumi,T.:Financialintegrationandreal쓪퓚쏀맺ꆢ볓쓃듳뫍컥룶얷훞맺볒뛔폚쫕activity,Manchester,,1997.' 1994-2008 China Academic Journal Electronic Publishing House. All rights reserved.
싛얷풪쟸닆헾헾닟폫믵뇒헾닟뗄늻뛔돆뷡릹ꆤ47ꆤ폅믵뇒쟸폲ꋙꆣ룷돉풱맺뗄뺭볃훜웚튲늻뺡쿠춬,뛔믵뇒쒿잰얷훞솪쏋뗄릫릲풤쯣럇뎣킡,횻헾닟뗄튪쟳늻튻훂,퓚믵뇒쟸닣듎짏쓑틔햼얷쏋GDP뗄1127%,웤훐풼50%폃폚릲횴탐춳튻뗄믵뇒헾닟살엤뫏룷ퟔ뗄닆헾헾춬얩튵헾닟뗄늹쳹,쪵훊쓜릻폃살횧엤뗄닟;뛸퓚돉풱맺닣듎짏평폚믵뇒헾닟좨쿞릫릲풤쯣럇뎣폐쿞ꆣ헢퇹킡맦쒣뗄릫릲풤뗄짏붻,틲듋,뻍뺭볃헾닟뛸퇔,뺭볃퓶뎤쯣횻쓜쮵쏷쒿잰퓚얷풪쟸쪵탐뗄죔쫇럖즢뗄죎컱횻쓜평룷맺닆헾헾닟뛀솢살췪돉뮯뗄닆헾쳥쾵낲업,쟸쓚닆헾헾닟뗄룷쿮쇋ꆣ얷쏋샭쫂믡붫캴살뗄뺭볃랢햹햽싔쒿릦쓜훷튪쫇춨맽룷맺럖즢뮯뗄닆헾헾닟살뇪좷뚨캪:뇤얷쏋캪쫀뷧짏ퟮ뻟뺺헹솦뫍쪵쿖뗄ꆣ헢훖쳥훆늢럇쫇ퟮ폅뗄훆뛈낲뚯첬퓶뎤뗄횪쪶훷떼탍뺭볃,놣돖쓜릻듸업ꆣ쯦ퟅ얷훞믵뇒튻쳥뮯뗄뷸튻늽랢햹,살풽살풽뛠뗄뻍튵믺믡뫍짧믡쓽뻛솦뗄뿉헢훖쳥훆뗄뇗뛋믡훰붥쿔슶돶살,돉캪컈돖탸탔뗄뺭볃퓶뎤ꋚꆣ퓚쪵쿖헢튻쒿뇪뗄뚨얷풪쟸뺭볃뗄훆풼틲쯘ꆣ맽돌훐,퓚쿖탐뗄믵뇒헾닟뫍닆헾헾닟늻뛔돆뷡릹쿂,닆헾헾닟돉캪얷쏋뺭볃퓶뎤뛾ꆡ쿖탐늻뛔돆뷡릹뗄뺭볃킧펦햽싔훐뗄맘볼뗄헾닟틲쯘ꆣ캪놣횤룷맺닆헾헾닟듙뷸뺭볃퓶뎤뗄닆헾헾닟뫍믵뇒헾닟뗄늻뛔돆뷡릹쯹폐킧탔,얷쏋튲ퟶ돶쇋탭뛠뗄얬솦ꆣ뇈죧닺짺뗄뺭볃킧펦믡뛔얷풪쟸뺭볃캴살뎤풶잿뗷닆헾랽쏦뗄맦퓲좷솢벰훆뛈붨짨,살랢햹듸살늻샻뗄펰쿬,쎬뛜늻뛏랢햹뫍벤놣횤룷맺풤쯣풼쫸뫍닆헾뗄뿉돖탸탔,틔뮯뗄맽돌붫믡췆뚯얷풪쟸닆헾헾닟뫍믵뇒듋살컈뚨뫪맛뺭볃뫍볛룱ꆣ늻뿉럱죏,맦헾닟훰늽쟷쿲뛔돆뮯,럱퓲떥튻믵뇒헾닟퓲좷솢뫍훆뛈붨짨붫믡퓚튻뚨뗄돌뛈짏쳡튲쓑틔돖탸ꆣ1.닆헾헾닟돉캪듙뷸쟸쓚뺭볃퓶뎤뗄짽릫릲늿쏅뗄킧싊뫍닆헾헾닟뗄뿉풤볻탔캨튻훘튪틲쯘,뛸퓚쿖탐쳥훆쿂,닆헾헾닟늢춨맽뛔쮽죋늿쏅쳡릩쫊떱뗄벤샸살쪵쿖쓜솦죵뮯,쓑틔떥뛀돐떣헢튻횰퓰ꆣ뎤웚뗄퓶뎤ꆣ떫쫇컒쏇펦룃뾴떽,룷맺닆떥튻믵뇒헾닟뗄쪵쪩뇪횾ퟅ얷훞튻쳥헾쓜솦쪵볊짏쯦ퟅ믵뇒튻쳥뮯뗄뷸햹쫜떽뮯돌뛈듯떽쇋튻룶탂뗄쮮욽ꆣ퓚튻룶뺭볃쇋쿷죵ꆣ룷맺쮰쫕맦쒣쯦ퟅ훽뇒쮰쫕죫뗄쟸쓚퓙럖엤ꆢ춨헍쮰쪵쪩쓜솦뗄즥쪧뫍룷맺쮰,뫪맛뺭볃쒿뇪뗄쪵쿖폐삵폚믵뇒헾닟뫍닆헾헾닟킭뗷엤뫏ꆣ뛔폚믵뇒헾닟퓚쫕뺺헹퓬돉뗄쫕틦쿂붵뛸쿂붵쇋;춬쪱뛔뺭볃훐뗄ퟷ폃,뺭볃톧볒쏇웕뇩뷓쫜쇋믵룷맺뗄닆헾풼쫸뗄퓶잿튲쪹룷맺닆헾헾닟뇒훷틥뗄맛뗣:믵뇒헾닟퓚뛌웚쓚쓜펰쿬헦헽뿉틔ퟷ캪뗄뿕볤쯵킡ꆣ뿉볻쿖탐쳥훆쪵볊닺돶,뛸퓚뎤웚퓲쫇훐탔뗄ꆣ틲듋쿂,룷맺닆헾쓜솦쫜떽쇋쿷죵,퓚믵뇒헾닟,얷훞훐퇫틸탐뢳폨볛룱컈뚨쒿뇪틔뻸뛔뗄폅짏붻뗄잰쳡쿂,죃웤떥뛀췪돉듙뷸뺭볃퓶쿈좨뎤뗄훘죎,뾴살쫇쏣캪웤쓑뗄ꆣ,듙뷸뎤웚뗄닺돶퓶뎤늻쫇웤믵뇒헾닟뗄쫗튪쒿뇪ꆣ뎤웚살뾴,믵뇒헾닟뛔뺭볃퓶뎤쪧킧,떫퓚뛌웚쓚퓚뛔돆탔뗄헾닟ꋙKenen,P.:TheTheoryofOptimumCurrency뿲볜쿂Areas:AnEclecticView,in:Π,룷맺죔쓜릻뷡뫏ퟔ벺뗄뺭볃랢햹쒿뇪(eds.),MonetaryProblemsoftheInternationalEcono2,톡퓱쫊떱뗄믵뇒헾닟릤뻟살엤뫏닆my,TheUniversityofChicagoPress,1969.헾헾닟뗄횴탐,듯떽볈뚨뗄뺭볃퓶뎤쒿뇪ꆣꋚECB:Fiscalpoliciesandeconomicgrowth,평폚얷풪쟸쒿잰뮹늻쫇튻룶ퟮ폅믵뇒쟸,MonthlyBulletin,.' 1994-2008 China Academic Journal Electronic Publishing House. All rights reserved.
ꆤ48ꆤ얷훞2002쓪뗚1웚2.쿖탐늻뛔돆뷡릹쿂,룷맺닆헾풤쯣헾헾닟쿠뮥틧돶뗄킧펦,쓚늿믣싊믺훆뗄폐뎬횧뗄쓚퓚뚯틲,듓뎤웚살뾴,붫뛔ꆶ컈쿻쪧ꆢ풴튪쯘뗄ퟔ평쇷뚯쪹닆헾헾닟뗄뚨폫퓶뎤릫풼ꆷ뗄횴탐탎돉쳴햽ꆣ헽뢺킧펦틧돶뚼듯떽쇋쿠떱룟뗄쮮욽ꆣ믴룷맺닆헾횸뇪쯤쫜떽ꆶ십풼ꆷ맦뚨뗄풼뛻컩뗂폫싳뿋쳆쓉틀뻝쏉듺뛻ꆪ뢥삳쏷쒣쫸,떫쫇퓚믵뇒헾닟뫍닆헾헾닟늻뛔돆뗄탍횸돶,믵뇒쟸쓚,튻맺퓢폶뺭볃쿴쳵닉좡뷡릹쿂,룷맺닆헾풤쯣듦퓚ퟅ뎬횧뗄쓚퓚삩헅탔뗄닆헾헾닟듌벤뺭볃퓶뎤쪱,듓짌뚯믺ꆣ얷훞훐퇫틸탐뗄돉솢틔벰릲춬믵뇒욷쫐뎡살뾴,믡쪹뗃놾맺뗄ퟜ탨쟳퓶볓,듸헾닟뗄쪵쪩,쪹룷맺닆헾헾닟뗄훆뚨헟늻뚯맺쓚맺쏱쫕죫퓶뎤,춬쪱,평폚쟸쓚풴퓙떣탄ퟔ짭뗄닆헾헾닟뗄쪵쪩믡뛔놾맺뗄뗄ퟔ평쇷뚯,룃맺뗄삩헅탔닆헾헾닟튲삭믵뇒뫍컯볛뗄컈뚨퓬돉늻샻펰쿬;얷풪쟸뚯쇋웤쯻맺볒뗄탨쟳,뛌웚뎬뛮탨쟳쪹웤뷰죚쫐뎡튻쳥뮯뗄랢햹,쪹룷맺닆헾죚쯻맺볒랢짺춨믵엲헍,컯볛짏헇;듓뷰죚쫐랶캧삩듳,죚돉놾쿠뛔쿂붵,룷맺닆헾죚뎡살뾴,룃맺뗄삩헅헾닟뇭쿖캪닆헾돠ퟖ,뗄킧싊쳡룟,헢룼볓뇣샻쇋룷맺헾뢮틔퓚뷰죚쫐뎡짏죚춨뷰,믡쪹뗃쫐뎡샻싊햮컱뗄탎쪽죚춨뷰;듋췢,퓚풭살뗄닆헾짏짽,듸뚯헻룶믵뇒쟸쓚뗄믣싊돶쿖럇틢쳥훆쿂죚럧쿕평룷맺헾뢮뛀ퟔ돐떣,쓇풸탔뗄짏짽,틽웰믵뇒쟸돶뿚뺺헹솦쿂쪱뇘탫뾼싇ퟔ짭뗄돐쫜쓜솦,뛸쿖퓚룷맺붵ꋙꆣ틲듋,믵뇒쟸쓚,튻맺삩헅탔뗄닆헾믡뛸틀삵뎬맺볒뗄믵뇒떱뻖뗄횧돖,헢헾닟믡듌벤놾맺닺돶퓶볓,쪧튵쿂붵,떫쫇뻍듦퓚뗀뗂럧쿕컊쳢ꆣ퓚헢훖벤샸믺훆튲믡틽웰웤쯻돉풱맺컯볛짏짽,믵뇒쟸뗄쿂,돉풱맺닆헾헾닟믡닺짺돠ퟖ쟣쿲ꆣ캪믣싊짏짽,돶뿚쿂붵뗄췢틧킧펦ꆣ쇋뇜쏢헢샠뗀뗂럧쿕컊쳢뗄랢짺,얷쏋퓚4.뛔뾹늻뛔돆돥믷쪱,닆헾헾닟폫믵ꆶ맽뛈돠ퟖ돌탲틩뚨쫩ꆷ훐맦뚨뛔캥맦돉풱뇒헾닟킭뗷쓑틔ퟠ킧ꆣ맺쪵쪩닆헾훆닃,튪쟳캥맦돉풱맺뷉쓉튻얷훞믵뇒솪쏋쿂뗄닆헾쳥훆낲업훷튪뚨늻뢶샻쾢뗄듦뿮,죧솽쓪쓚닆헾돠ퟖ쟩쫇캪쇋엤뫏얷훞훐퇫틸탐췆탐릲춬믵뇒헾뿶쎻폐뗃떽뫃,헢뇊듦뿮뻍믡캪랣뷰ꆣ닟,퓚쟸쓚캬뮤볛룱컈뚨뗄탨튪ꆣ뛸랴맽떫쫇,헫뛔헢튻맦뚨튲폐샽췢쳵뿮,죧퓚튻살얷훞훐퇫틸탐좴늻뿉쓜뾼싇룶뇰맺볒닆쓪훐쪵볊GDP쿂붵2%믲룼뛠쪱,퓊탭캪헾헾닟ힴ뿶뛸퓚믵뇒헾닟짏폨틔엤뫏ꆣ튲웚솽쓪뗄퓝쪱맽뛈돠ퟖ,벴쪹쪵볊GDP쿂뻍쫇쮵,뫪맛헾닟늻뛔돆뷡릹쿂,닆헾헾닟붵늻ퟣ2%,떫쫇뎬맽쇋%쪱,튲뿉캪폫믵뇒헾닟뗄엤뫏쫇떥쿲뗄,벴룷맺폐퓰맽뛈돠ퟖ짪쟫샽췢ꆣꆶ맽뛈돠ퟖ돌탲틩뚨죎엤뫏춳튻뗄얷훞훐퇫틸탐뗄믵뇒헾닟,쫩ꆷ훐뗄쏢퓰폫샽췢쟩뿶첫뛠,뒦랣돌탲뢴룷맺닆헾헾닟뗄퓋탐늻쓜캣벰얷풪뗄컈퓓랱쯶,쪵볊짏쪵쪩뗄쓑뛈뫜듳,뛔폚돉풱뚨,떫랴쿲엤뫏쫇늻듦퓚뗄ꆣ쯹틔,뛔룷돉맺뗄맽뛈돠ퟖ늢쎻폐뫜잿뗄췢늿풼쫸솦풱맺뛸퇔,믵뇒헾닟폫닆헾헾닟뗄늻뛔돆솿ꆣ뷡릹뗄뫪맛닣쏦늻샻횮뒦퓚폚:믣싊헾닟3.룷맺닆헾헾닟쪵쪩돉놾붫믡닺짺췢릤뻟뗄즥쪧폫믵뇒헾닟릤뻟뗄죃뛉,쪹뗃틧킧펦ꆣ맺볒닣듎짏뗄뻶닟믺릹퓚펦뛔늻뛔돆돥믷퓚떥튻믵뇒헾닟쿂,돉풱맺캪쪵쿖뫪쪱,평폚헾닟릤뻟톡퓱뗄풼쫸뛸쿝폚늻샻맛뺭볃쒿뇪훷튪틀뾿춨맽뇤뚯쮰싊뫍헾뢮횧돶뗄닆헾헾닟살펰쿬ퟜ탨쟳뷸뛸펰쿬뻍ꋙ놣싞ꆤ믴뛻컩뗂,싞쓉뗂ꆤ싳뿋쳆쓉ꆶ:맺튵뫍맺쏱쫕죫ꆣ믵뇒튻쳥뮯럅듳쇋룷맺닆볊믵뇒폫뷰죚ꆷ,놱뺩쪦랶듳톧1996쓪냦ꆣ' 1994-2008 China Academic Journal Electronic Publishing House. All rights reserved.
싛얷풪쟸닆헾헾닟폫믵뇒헾닟뗄늻뛔돆뷡릹ꆤ49ꆤ뗘캻,펦뛔늻뛔돆돥믷뗄쓜솦쿂붵ꆣ늻뿉헾닟훰붥쟷폚춳튻,헢볈럻뫏튻쳥뮯랢햹럱죏,쯦ퟅ믵뇒쟸쓚쎳틗뗄랢햹뫍룷맺뺭뗄샺쪷싟벭,폖쫇얷풪쟸쫐뎡짮뮯뗄쓚퓚볃뗄쟷춬,튻맺풴폚쟸쓚틲쯘돶쿖뻖늿돥튪쟳ꆣ믷뗄뿉쓜탔복짙쇋ꆣ죧맻폐늻뛔돆탔돥믷뗄뮰,쓇룼뿉쓜쫇뻖늿탔ꆢ닺튵탔뗄믲쫇살죽ꆡ뛔돆뮯뗄슷뺶럖컶:ퟔ쟸폲횮췢뗄ꆣ떱랢짺늻뛔돆뺭볃돥믷평붥뷸떽평탨쟳틽훂뗄훆뛈뒴탂쪱,쟸쓚쎳틗뫍춶뻍믡돉캪뺭볃캣믺퓚룷맺볤뗄뒫능쎽뷩ꆣ믵뇒헾닟좨솦뗄짏붻ꆡꆡ뺭볃헾훎튻쳥뮯쫇얷쏋룷맺쯹ힷ쟳뗄쪹룷맺늻쓜뫜뫃뗘퓋폃믵뇒헾닟ꆢ믣싊헾뎤풶쒿뇪ꆣ믵뇒튻쳥뮯뇪횾ퟅ헢튻맽돌뷸닟살뛔뾹럇뛔돆뗄뺭볃돥믷,닆헾헾닟폖죫쪵훊뷗뛎ꆣ퓚얷풪퓋ퟷ뗄돵웚,춳튻뗄쫜떽닆헾볍싉뗄퇏룱쿞훆,헾닟뗄ퟔ훷탔믵뇒헾닟뫍럖즢뮯뗄닆헾헾닟뗄늻뛔돆뷡쿂붵릹쫇얷풪쟸룷맺헾훎췗킭뗄뷡맻ꆣ샭싛짏,뿉닙ퟷ뗄뿕볤복짙ꆣ쯤쮵얷쏋뗄뷡릹믹뷰쓜쿲돉풱맺쳡릩튻뚨뗄닆헾훺쯼늢늻쫇튻훖ퟮ폅뗄훆뛈톡퓱ꆣ퓚헢훖쒣,떫퓚뛔뾹늻뛔돆탔돥믷랽쏦뗄ퟷ폃쫇풶풶쪽쿂,틾몬ퟅ탭뛠잱퓚뗄쎬뛜뫍캣믺ꆣ닆늻릻뗄ꆣ떱돥믷뷏듳쪱,룷맺닆헾헾닟붫헾헾닟ퟟ쿲폫믵뇒헾닟뛔돆뮯붫쫇얷풪쟸쓑틔캪볌,얷훞훐퇫틸탐폖붫럮탐훐솢뗄캴살닆헾쳥훆랢햹뗄랽쿲ꆣ듓쪵쿖뗄슷뺶헾닟짏살뾴,헢붫쫇튻룶훰늽쪵쿖뗄맽돌:룷맺,퓚벫뛋뗄쟩뿶쿂,헢뇘좻믡퓬돉튻킩캣믺맺볒늻뗃틑뛸톡퓱췋돶얷훞믵뇒솪닆헾좨솦훰붥죵뮯,뎬맺볒뗄솪쏋닣듎짏쏋ꆣ뗄닆헾쓜솦훰붥볓잿,뺭헾닟쟷춬떽평탨5쟳틽훂뗄훆뛈뒴탂뛸ퟮ훕탎돉얷풪쟸닆헾.퓚쮰훆뫍쮰훖킭뗷춳튻짐캴췪좫쪵쿖뗄쟩뿶쿂,룷맺닆헾헾닟뗄뺺헹,믡떼훂헾닟뫍믵뇒헾닟뗄뛔돆룱뻖ꆣ얷쏋튻쳥뮯릫릲닺욷릩펦늻ퟣꆣ돌뛈튲붫쯦횮뛸볌탸뗃틔짮뮯ꆣ얷풪퓋탐뗄캢맛뺭볃킧펦쪹뗃쟸쓚퓚쒿잰럖즢뮯뗄닆헾쳥훆뿲볜횮쿂,풴튪쯘뗄쇷뚯탔뷸튻늽볓잿,탅쾢룼볓돤쯤좻훐퇫닣듎쯹쓜벯훐뗄닆솦럇뎣폐쿞,럖ꆣ뺭볃룶쳥뿉틔틀뻝룶죋욫뫃춨맽ퟔ평떫훖훖벣쿳뇭쏷:얷훞믵뇒솪쏋튲늢쎻폐쇷뚯뗄랽쪽퓚쟸쓚톡퓱늻춬뗄릫릲닺욷릩ퟸ쫓쿖탐늻뛔돆뷡릹뛔얷풪쟸뺭볃뗄늻솼룸벰룷죋쓉쮰뗄쮮욽ꆣ룷돉풱맺쏦쇙ퟅ릫펰쿬,쿠랴룷맺튲퓚믽벫톰쟳닆헾헾닟뗄릲닺욷뗄릩룸폫뛔쮰풴뗄뺺헹톹솦ꆣ퓚쒿킭뗷폫쟷춬ꆣꆶ십풼ꆷ뫍ꆶ컈뚨퓶뎤릫풼ꆷ쯹잰쟸쓚뗄쮰훆뫍쮰싊짐캴췪좫춳튻뗄쟩뿶좷솢뗄릲춬닆헾볍싉놾짭뻍쫇쟸쓚룷맺닆쿂,캪쇋퓚뺺헹훐믱뗃폅쫆,룷맺떱뻖폐쪵헾헾닟붥뷼뫍쟷춬뗄튻훖뻟쳥쳥쿖ꆣ얷풪탐뗍쮰싊뗄쟣쿲,헢붫떼훂믵뇒쟸쓚쒳킩쟸룷맺퓚돠ퟖ뗄캣몦탔뫍쪵탐뿉돖탸뗄풤쮰훖뗄쮰싊뗍폚샭쿫쮮욽,퓬돉쟸쓚릫릲쯣헾닟뇘튪탔랽쏦듯돉릲쪶,릲춬닆헾볍닺욷뗄릩펦쓜솦늻ퟣꆣ싉ퟷ캪헾닟뗄쟷춬컞틉폐샻폚룷맺닆헾ힴ틲듋,얷풪쟸닆헾헾닟뫍믵뇒헾닟늻뿶뗄룄짆ꆣ듓훐뎤웚킧펦살뾴,뛔컈뚨얷뛔돆뷡릹뗄쓚퓚쎬뛜쫇짮뿌뗄,튲쫇컞램풪뫍룷돉풱맺캴살뎤웚뺭볃퓶뎤럇뎣폐뷶뾿룷맺헾닟뗄릦쓜탔킭뗷뻍쓜릻뿋럾샻ꆣ돽릲춬닆헾볍싉횮췢,얷풪쟸룷맺볌뗄ꆣ얷풪쟸뺭볃뗄뎤웚컈뚨랢햹,얷풪쟸릲춬맘쮰횮뫳,튲퓚믽벫뗄톰쟳쮰훖뫍쮰룷맺뗄쓽뻛솦ퟮ훕튪뾿룼캪뫏샭뗄훆뛈낲싊뗄킭뗷뫍춳튻,틔뇜쏢룷맺퓚쮰쫕랽쏦업살뗃틔놣횤ꆣ믵뇒헾닟춳튻횮뫳,닆헾뗄뛱탔뺺헹,헢킩얬솦튲쫇닆헾헾닟쟷춬' 1994-2008 China Academic Journal Electronic Publishing House. All rights reserved.
ꆤ50ꆤ얷훞2002쓪뗚1웚뗄쇭튻훖뇭쿖ꆣ떱좻헢킩붥뷸뫍쟷춬뻠샫햹뗄훺솦ꆣ쏀맺9111뿖닀쾮믷쫂볾뫳,얷헦헽틢틥짏뗄춳튻닆헾헾닟죔쿠뻠짵풶ꆣ쏋퇐쳖쇋뷸튻늽볓잿쓚늿헾훎탐뚯쓜솦뗄뛸쟒,룷맺닆헾랽쏦죔듦퓚ퟅ뫜듳뗄늻욽컊쳢,볆뮮붨솢쿠펦뗄뻶닟믺릹,헹좡룼듳뫢,헢훖늻욽뫢ힴ첬죧뫎퓚쎻폐훐퇫닆헾뗄닆헾횧돖ꆣ헢쮵쏷얷쏋퓚싵쿲헾훎춳튻횧돖뗄쳵볾쿂쟷폚욽뫢?룷맺쓜늻쓜쪼훕랽쏦폖ퟟ돶쇋훘튪튻늽ꆣ죎뫎튻훖탂훆뛈놣돖훐탔뗄닆헾헾닟듓뛸쪵쿖얷풪쟸쓚뗍뚼탨튪훰붥쒥뫏뫍늻뛏폅뮯,뺭볃쓋훁헾춨믵엲헍뗄뺭볃퓶뎤?볌탸닆헾풼쫸뇣폚훎튻쳥뮯ퟷ캪튻룶뚯첬뗄맽돌,튲탨튪훰믵뇒헾닟듯떽볛룱컈뚨쒿뇪뗄춬쪱,돉풱늽뗄췪짆뫍떽캻ꆣ헢튻뷸돌뗄뿬싽벰쫇럱맺죧뫎뷢뻶뫃놾맺뗄뺭볃훜웚늨뚯컊쳢벰헦헽쫊펦쫐뎡짮뮯랢햹뗄탨튪붫믡횱뷓펰펦뛔늻뛔돆뺭볃돥믷?쏦뛔얷풪쟸죋뿚샏쿬얷훞튻쳥뮯ퟮ훕뗄돉냜ꆣ헢튻맽돌틲펦쇤뮯컊쳢,돉풱맺닆헾헾닟죧뫎뷸튻늽컈믵뇒튻쳥뮯뛸뾪쪼,늢붫쯦ퟅ믵뇒튻쳥뮯만뫍뷸탐뷡릹뗷헻?죧뫎볓잿룷맺볤뗄헾뗄랢햹냩쯦ퟅ탂훆뛈뗄늻뛏뒴탂폫좷솢뛸닟뫏ퟷ?뷶뷶틀뾿릲춬닆헾볍싉뫍룷맺헾훰늽ퟟ쿲짮죫ꆣ닟뗄릦쓜탔킭뗷늢늻쓜쪹헢킩컊쳢뗃떽풲훆뛈뇤잨뗄뿆쮹훐탔뚨샭죏캪훆뛈뇤싺뷢뻶,헢킩컊쳢ퟮ훕쓜듓룹놾짏뗃떽뷢잨볈펰쿬쫕틦뗄닺돶(벴킧싊폫퓶뎤컊뻶,횻쓜틀삵폚릲춬닆헾헾닟뗄훆뛈뒴탂ꆣ쳢),폖펰쿬쫕틦뗄럖엤(벴릫욽컊쳢)ꋚꆣ훆뛈뇤잨쫇폃튻훖킧틦룼룟뗄훆뛈쳦믵뇒튻쳥뮯퓚ퟜ쳥짏퓶뷸쇋릫릲쳥뗄뢣샻듺쇭튻훖훆뛈뗄맽돌,쯼폐솽훖쪵쿖슷뺶:쮮욽,떫춬쪱튲떼훂쇋쪱볤짏뫍뿕볤짏룷탨쟳폕훂탍훆뛈뒴탂뫍잿훆탍훆뛈뒴탂ꆣ맺헾뢮쫕틦늻뻹,짵훁떼훂룶뇰뎧짌ꆢ닺튵퓚훆뛈뷡릹뗄쳥쾵훐,쒳쿮훆뛈릹붨랢짺뫍맺볒뗄뢣샻쯰쪧ꆣ룷맺퓚훆뛈뇤잨맽돌쇋뇤뮯믡떼훂뛔웤쯻뗄훆뛈릹붨럾컱뗄쓚훐돉놾뫍쫕틦뿕볤럖엤늻뻹뫢뗄룹풴퓚폚퓚탨쟳,헢쫇탨쟳폕훂탍훆뛈뒴탂뗄훘튪룷ퟔ뗄뺭볃맦쒣ꆢ랢햹쮮욽ꆢ닺튵폫쎳틗뷡틲쯘ꆣ탨쟳폕훂탍슷뺶잿뗷쫐뎡솦솿뛔늻릹뗄닮틬탔ꆣ뻟쳥살붲,룷룶맺볒뺭볃뗄뻹뫢뗄쿖탐훆뛈뗄ퟔ랢춻웆뫍뛔룄퓬뗄ힼ틬훊탔,떼훂웤듓훐퇫풤쯣훐뗃떽뗄뫃뒦놸,떱헢훖춻웆폫룄퓬뗄ힼ놸믽샛떽튻뚨쫇늻뻹뫢뗄ꆣ죧맻튻룶뗘쟸뺭볃뇈뷏랢듯쮮욽쪱,뻍듙돉쇋틔훆뛈뒴탂뗄탎쪽붫폐뗄뮰,쯼퓚릲춬쳥풤쯣훐뻍튪떣뢺룼듳뗄맘뗄돉맻램싉뮯ꋙꆣ믵뇒튻쳥뮯뛔폚얷풪퓰죎,뛸듓훐믱뗃뷏짙뗄샻틦,헢킩맺볒뻍쟸룷맺살붲,횻쫇뺭볃쳥훆랢짺쇋뻖늿뗄늻믡믽벫뗘췆뚯닆헾솪쏋뗄붨솢ꆣ떫떱쒳뇤뮯뛸틑,쟸쓚탭뛠쿠맘뗄훆뛈튪쯘늢쎻킩돉풱맺쫜떽퇏훘뗄럇뛔돆탔뺭볃돥믷,폐랢짺쿠펦뗄뇤뮯ꆣ헢틢캶ퟅ얷훞믵뇒솪늻쓜뾿ퟔ짭닆솦살뷢뻶컊쳢쪱,믵뇒헾닟쏋ퟷ캪튻훖탂뗄훆뛈낲업죔듦퓚탭뛠훆뛈짏붻,닆헾헾닟쫜떽풼쫸뗄쳵볾쿂,쫇죌쫜늻엤쳗뗄뗘랽,탨튪웤쯻훆뛈뗄뒴탂폫췪뺭볃쿴쳵뮹쫇럅웺릲춬믵뇒,헢훖솽쓑톡짆쿠엤뫏ꆣ닆헾헾닟폫믵뇒헾닟뗄늻뛔돆퓱뇘좻떼훂웤튪쟳췋돶믵뇒솪쏋뗄뿉쓜쫇쿖탐훆뛈늻엤쳗뗄튻훖뇭쿖탎쪽,틲듋탔ꆣ듋쪱,웤쯻돉풱맺뻍믡좨뫢돉놾뫍쫕듓놾훊짏붲,쟸쓚릲춬닆헾헾닟뗄훆뛈뒴탂붫믡평쓚늿탨쟳폕훂뛸탎돉,쫇쫐뎡튻쳥뮯뫍믵뇒튻쳥뮯맽돌뗄뇘좻뷡맻ꆣ살ퟔꋙ퇮뾡튻ꆶ:훆뛈뇤잨폫맜샭뒴탂ꆷ,짏몣뢴떩듳톧돶냦짧2000쓪냦ꆣ춳튻듳쫐뎡뗄쓚늿탨쟳쫇훆뛈뒴탂뗄쓚퓚ꋚ뿆쮹,낢뛻쟕,억쮹ꆶ:닆닺좨샻폫훆뛈뇤뚯솦;살ퟔ췢늿뗄돥믷붫믡쫇훆뛈뒴탂랢잨ꆷ,짏몣죋쏱돶냦짧1994쓪냦ꆣ' 1994-2008 China Academic Journal Electronic Publishing House. All rights reserved.
싛얷풪쟸닆헾헾닟폫믵뇒헾닟뗄늻뛔돆뷡릹ꆤ51ꆤ틦뗄,죴죃헢킩맺볒췋돶뛸떼훂뗄볈뗃샻Press,ꆪ219,1992.틦뗄쯰쪧듳폚캬돖웤퓚믵뇒솪쏋쓚뗄돉놾,C.,,Stabilization,Euopean쪱,1993.,랢듯맺볒뻍믡훘탂뾼싇훐퇫풤쯣뗄컊쳢,풸틢돐떣웰룼뛠뗄퓰죎ꆣ헢뻍쫇훆뛈,T.,Financialintegrationandrealactivity,톡퓱폫훆뛈릹붨뗄돉놾뫍쫕틦뗄뛔뇈맽Manchester,,1997.돌ꆣ릲춬닆헾헾닟붫믡틔틆횧뢶믲퓙럖,Thesinglemarketanditsimplica2엤탎쪽뷢뻶돉놾쫕틦뗄릫욽럖엤컊쳢,놣tionsforEuropeꆯsmonetaryarrangements,QuarterlyBulletin30,,,1990.횤믵뇒튻쳥뮯훆뛈뗄컈뚨뫍랢햹ꆣ,J.,ThescopeforfiscalpolicyintheEu2얷풪뗄퓋ퟷ틑쪹믵뇒튻쳥뮯뗄캢맛뺭ropeanCommunity,in:Π볃킧싊뗃떽쇋돵늽뗄쪵쿖,퓚뫪맛닣쏦튲(ed.),Fiscalpolicy,Taxationandthefinancial뷸튻늽볓짮쇋쟸쓚룷맺뺭볃헾닟뫏ퟷ뗄쿠systeminanincreasinglyintegratedEurope,Dor2뮥틀삵탔ꆣ헢킩뚼캪캴살닆헾헾닟ퟟ쿲춳drechtΠBostonΠLancaster:KluwerAcademicPublish2튻쳡릩뫜뫃뗄췢늿뮷뺳ꆣ컒쏇뿉틔풤볻ers,,1992.,닆헾헾닟ퟟ쿲춳튻횻쫇튻룶훆뛈뒴탂뗄쪱,Fiscalpoliciesandeconomicgrowth,Monthly볤컊쳢ꆣ랴맛헢벸쓪뗄퓋ퟷ,얷풪쟸룷맺Bulletin,.닆헾헾닟퓚엤뫏믵뇒헾닟뗄쪵볹훐튲퓚믽,P.,TheTheoryofOptimumCurrencyAreas:벫톰쟳킭뗷튻훂,캴살얷풪쟸닆헾헾닟폫AnEclecticView,in:Mundell,R.&Swoboda,A.(eds.),MonetaryProblemsoftheInternational믵뇒헾닟ퟟ쿲뛔돆뮯쫇뇘좻뗄쟷쫆ꆣ춳튻Economy,TheUniversityofChicagoPress,1969.뗄믵뇒헾닟뫍훰늽춳튻뗄닆헾헾닟쯹닺짺10.퇮뾡튻ꆶ,훆뛈뇤잨폫맜샭뒴탂ꆷ,짏몣뢴떩듳뗄틧돶킧펦붫믡볌탸듸뚯얷훞튻쳥뮯뗄뷸톧돶냦짧2000쓪냦ꆣ돌ꆣ평믵뇒춳튻떽릲춬닆헾헾닟,퓙떽헾11.놣싞ꆤ믴뛻컩뗂,싞쓉뗂ꆤ싳뿋쳆쓉ꆶ,맺볊믵뇒훎튻쳥뮯,펦룃쫇얷풪쟸캴살랢햹뗄랽쿲ꆣ폫뷰죚ꆷ,놱뺩쪦랶듳톧돶냦짧1996쓪냦ꆣ12.뿆쮹,낢뛻쟕,억쮹ꆶ,닆닺좨샻폫훆뛈뇤잨ꆷ,훷튪닎뾼컄쿗짏몣죋쏱돶냦짧1994쓪냦ꆣ:,R.,TheTheoryofPublicFinance,NewYork:McGraw2Hill,1959.ퟷ헟볲뷩:쯎ꆡ(1969쓪ꆪꆡ),훐,M.,,AnEconomicTheoryof맺닆헾뷰죚헾닟퇐뺿훐탄,훐맺죋쏱듳톧Alliances,ReviewofEconomicsandStatistics,닆헾뷰죚톧풺;퇮캰맺(1969쓪ꆪꆡ),뺭,1966.볃톧늩쪿,훐맺짧믡뿆톧풺얷훞퇐뺿쯹얷,Xavier,JeffreySachs,FiscalFederal2풪퇐뺿훐탄,훐맺닆헾뷰죚헾닟퇐뺿훐탄ismandOptimumCurrencyAreas:EvidenceforEu2춨톶뗘횷:100732ꆡ놱뺩붨맺쏅쓚듳ropefromtheUnitedStates,in:MatthewCanzoneri,뷖5뫅훐맺짧믡뿆톧풺얷훞쯹VittorioGrilli,(eds.),Estab2쫕룥죕웚:2001-12-31lishingaCentralBank:IssuesinEuropeandLessons퓰죎뇠벭:헅ꆡ쏴.,Cambridge:CambridgeUniversity' 1994-2008 China Academic Journal Electronic Publishing House. All rights reserved.
ꆤ110ꆤ얷훞2002쓪뗚1웚centralauthorityontheworldstage;socialitybroughtaboutmainlybysocialandeconomicexchang2esamongstates;,,namely,realism,,asthethreecharacteristicscoexistintherealinternationallife,:InternationalPolitics;Anarchy;Sociality;ClassesInternationalPoliticalEconomy:History,TheoryandMethodsWangZhengyiSince1970s,internationalpoliticaleconomy,asadisciplineofinternationalrelations,hasdevel2opedquicklyintheWestbothintermsoftheoriesandexplanationsfornewproblemsemergedinin2ternationalsystem,,internationalpoliticaleconomyandclassicalpoliticaleconomy,andfinallydrawtheconclusionsonquestions,:InternationalPoliticalEconomy;IdeologicalAnalysis;InternationalRegimeAnalysisGlobalCivilSocietyandStates:,,stateandinternationalsociety,:CivilSociety;State;GlobalCivilSociety;FunctionsAsymmetricalStructurebetweenFiscalandMonetaryPoliciesintheEuroAreaSongWeiandYangWeiguoTheasymmetryoffiscalandmonetarypoliciesintheEurozoneisastagethatallEUmemberstates' 1994-2008 China Academic Journal Electronic Publishing House. All rights reserved.
Abstractꆤ111ꆤ,,:Integration;FiscalPolicy;FinancialPolicy;,especiallyinthecompetitionwithUSA,,:EuropeanUnion;FinancialGlobalization;,,bondmarkets,espe2ciallyprivatebondmarkets,,&,inforeignexchangemarket,:Euro;EMU;FinancialMarket;Liquidity;MarketDepthEuropeanCompetitionPolicyandWorldTradeOrganizationZhuJianjun' 1994-2008 China Academic Journal Electronic Publishing House. All rights reserved.
