ꆡꆡꆡꆡAPEC뗄믵뇒뷰죚뫏ퟷ:뺭볃믹뒡폫릹쿫듷뷰욽ꆡ췲횾뫪3ꆡꆡ쓚죝쳡튪ꆡ믵뇒튻쳥뮯쫇얷훞뺭볃튻쳥뮯뗄훘튪ퟩ돉늿럖,믵뇒튻쳥뮯뗄ퟮ룟뷗뛎ꆪꆪꆪ얷풪뗄떮짺뇪횾ퟅ얷훞뗄뺭볃튻쳥뮯뷸죫ퟮ룟뷗뛎,벴얷훞믵뇒폫뺭볃솪쏋ꆣ믵뇒뷰죚뫏ퟷ쫇퇇첫뺭볃뫏ퟷ뗄훘튪쓚죝,늢쟒좡뗃쇋튻뚨뗄돉벨,떫쫇,평폚퇇첫뗘쟸랶캧듳ꆢ쟩뿶뢴퓓,튻냣죏캪룃쟸폲뗄믵뇒뷰죚뫏ퟷ횻쓜춣쇴퓚돵벶뷗뛎ꆣ놾컄뻟쳥럖컶쇋퇇첫뗘쟸믵뇒뷰죚뫏ퟷ뗄뺭볃믹뒡,늢퓚듋믹뒡짏쳡돶퇇첫뗘쟸믵뇒뷰죚뫏ퟷ뗄뻟쳥짨쿫ꆣ맘볼듊ꆡ퇇첫뗘쟸ꆡ믵뇒뷰죚뫏ퟷꆡퟮ폅믵뇒쟸샭싛튻ꆡ믵뇒뷰죚뫏ퟷ뗄룅쓮뫍뷗뛎뮮럖(튻)믵뇒뷰죚뫏ퟷ룅쓮뷧뚨맺볊믵뇒뷰죚뫏ퟷ쫇퓚뛠맺믲솽맺횮볤뷸탐뗄맘폚캬돖믣싊컈뚨뫍뷰죚쫐뎡컈뚨랢햹뗄룷훖탎쪽뗄뫏ퟷꆣ믵뇒뫏ퟷ뗄쒿뇪쫇쪵쿖쮫뇟믲뛠뇟믣싊뗄컈뚨뫍뷰죚쳥쾵뗄컈뚨랢햹,뫏ퟷ뗄쫖뛎냼삨믵뇒헾닟ꆢ닆헾헾닟킭뗷,릲춬룉풤쫐뎡뗈,뫏ퟷ뗄탎쪽뿉틔쫇믺훆뮯뗄튲뿉틔쫇럇믺훆뮯뗄ꆣ믵뇒튻쳥뮯쫇믵뇒뫏ퟷ평뗍벶탎첬쿲룟벶탎첬랢햹ꆢ평쯉즢탍쿲뷴쏜탍맽뛉뗄튻룶맽돌ꆣ맺볊믵뇒뷰죚뫏ퟷ뻟폐벸룶랽쏦뗄맦뚨탔:뗚튻,뫏ퟷ뗄훷쳥펦룃쫇뻟폐훷좨쳘헷뗄맺볒헾뢮믲뻟폐쿠떱뛀솢탔뗄뗘쟸헾뢮ꆣ뗚뛾,뫏ퟷ뗄쒿뇪쫇쮫뇟믲뛠뇟믣싊뗄컈뚨뫍뷰죚쳥쾵뗄컈뚨폫랢햹ꆣ퓚믵뇒뷰죚뫏ퟷ뗄맽돌훐,뿉틔붨솢뛌웚뗄믲듎벶뗄쒿뇪,죧붨솢릲춬뷰죚럧쿕풤뺯믺훆ꆢ쟸폲놾쫐뎡ꆢ킭뗷믵뇒닆헾헾닟쒿뇪뗈ꆣퟮ훕쒿뇪뗄쪵쿖쫇틀뾿튻쾵쇐뛌웚뫍듎벶쒿뇪살쪵쿖뗄ꆣ뗚죽,믵뇒뫏ퟷ뗄랽쪽뿉틔쫇믺훆뮯뗄,튲뿉틔쫇럇믺훆뮯뗄ꆣ믺훆뮯쫇횸듦퓚튻룶퇏룱뗄ꆢ뻟폐풼쫸솦뗄훆뛈쳥쾵,듦퓚뛔펦뗄뎬맺볒뗄맺볊믺릹뫍ퟩ횯탐쪹룷훖죕뎣횰쓜,듦퓚튻룶믹뷰(평룷뫏ퟷ랽럖첯)ퟷ캪컯훊놣헏ꆣ늼샗뛙즭쇖쳥쾵쫇튻룶뗤탍뗄뻟폐믺훆뮯쳘뗣뗄믵뇒뷰죚뫏ퟷ쳥쾵,웤컯훊놣헏뻍쫇맺볊믵뇒믹뷰ꆣ얷훞믵뇒쳥쾵튲쫇튻룶뗤탍뗄믺훆뮯뗄믵뇒뷰죚뫏ퟷ쳥쾵,얷훞믵뇒뫏ퟷ믹뷰뻍쫇컯훊놣헏ꆣ럇믺훆뮯쫇횸늻듦퓚튻룶뎬맺볒뗄ퟩ횯,늻듦퓚튻쳗뻟폐풼쫸솦뗄훆뛈맦뚨,뫏ퟷ쫇쯉즢뗄,늻뚨웚뗄ꆣ뿉틔쫇볲떥뗄탅쾢붻쇷,튲뿉틔쫇늻뚨웚믲뚨웚뗄쇬떼죋믡첸,뿉틔쫇튻룶싛첳ꆣꆰ10+3ꆱ쫇튻룶뗤탍뗄럇믺훆뮯뗄믵뇒뷰죚뫏ퟷ탎쪽,13맺뫍뗘쟸닆뎤뚨웚뫍늻뚨웚뻙탐믡틩,짌첸쯦믺듦퓚뗄룷훖3듷뷰욽ꆢ췲횾뫪:쓏뾪듳톧맺볊뺭볃퇐뺿쯹ꆡ300071ꆡ뗧ퟓ탅쿤:daijp@ꆣ쫀뷧뺭볃3ꆡ2005쓪뗚5웚ꆡꆤ12ꆤ' 1994-2014 China Academic Journal Electronic Publishing House. All rights reserved.
듷뷰욽ꆡ췲횾뫪ꆡꆡ컊쳢ꆣ믺훆뮯뗄뫏ퟷ쫇튻훖뷏룟탎첬뗄뫏ퟷ랽쪽ꆣ뗚쯄,뫏ퟷ뗄쫖뛎뛠훖뛠퇹ꆣ훷튪폐믵뇒닆헾헾닟킭뗷ꆢ릲춬룉풤췢믣쫐뎡ꆢ붨솢캣믺뻈풮믺훆ꆢ춳튻쫐뎡맦퓲뫍뇪ힼꆢ붨솢릲춬뗄탅폃쳥쾵뫍쟥쯣쳥쾵ꆢ붨솢럧쿕풤뺯믺훆뗈뗈ꆣ믵뇒뷰죚뫏ퟷ뗄늻춬뷗뛎믡폐늻춬뗄쫖뛎ꆣ릲춬룉풤췢믣쫐뎡뎣뎣쫇믵뇒뷰죚뫏ퟷ뗚뛾룶뷗뛎뗄뎣폃쫖뛎ꆣ(뛾)믵뇒뷰죚뫏ퟷ뗄뷗뛎뮮럖믵뇒뷰죚뫏ퟷ뻍룅쓮췢퇓짏살붲폐맣틥뫍쿁틥횮럖ꆣ쿁틥뗄믵뇒뷰죚뫏ퟷ쳘횸믣싊뫏ퟷ믺훆,벴횼퓚쒱쟳룷돉풱볤믵뇒믣싊컈뚨뗄튻쾵쇐훆뛈탔낲업,냼삨캪놣횤믣싊컈뚨뛸뷸탐뗄룷랽쏦뗄킭ퟷꆣ맣틥뗄믵뇒뷰죚뫏ퟷ냼삨퓚믵뇒뷰죚쇬폲뗄ꆢ횼퓚랢햹믵뇒뷰죚쫐뎡뗄쯹폐탔훊ꆢ쯹폐샠탍뗄뫏ퟷ,냼삨볲떥뗄죋솦풴엠통ꆢ탅쾢붻쇷뫍맛뗣붻쇷,튲냼삨퇏룱뗄믣싊쒿뇪쟸ꆢ춳튻믵뇒낲업ꆣ맣틥짏뗄믵뇒뷰죚뫏ퟷ튻냣살쮵뿉틔뮮럖캪죽룶닣듎:뗚튻룶닣듎쫇믵뇒뷰죚뫏ퟷ뗄돵벶뷗뛎ꆪꆪꆪힼ놸뷗뛎,훷튪뇭쿖캪뫏ퟷ뗄쮫뇟쳘탔ꆢ럇훆뛈탔ꆢ쎻폐춳튻췪짆뗄ퟩ횯뷡릹ꆢ쯉즢탔ꆢ럇믺훆탔;뫏ퟷ랽쪽춨뎣쫇볲떥뗄탅쾢붻쇷,볒췹살,쳖싛훐퇫틸탐죧뫎돤럖랢믓믵뇒헾닟릦쓜,죧뫎볠맜뷰죚쫐뎡랢햹뗈ꆣ헢튻뷗뛎ퟮ룟뗄탎첬쫇돉풱맺쏦쇙맺볊쫕횧삧쓑쪱,돉풱맺횮볤뗄쇷뚯탔횧돖낲업,틔벰퓚볠맜풭퓲뫍랽램짏뗄춳튻뮯ꆣ뚫쏋뫍훐맺ꆢ죕놾ꆢ몫맺횮볤뗄믵뇒뮥뮻킭뚨뻍쫇헢훖탎첬ꆣ퓚뗚튻룶뷗뛎,믵뇒뷰죚뫏ퟷ뗄돉풱횮볤춨뎣캪쇋듯떽룼룟닣듎뗄뫏ퟷ뛸볓잿쪵쳥뺭볃튻쳥뮯뗄뷸돌,냼삨뷰죚쫐뎡튻쳥뮯뗄뷸돌ꆣ뗚뛾룶닣듎쫇믣싊믺훆뫏ퟷ,횸횼퓚컈뚨믣싊뗄믺훆낲업ꆣ헢쫇헦헽틢틥짏뗄믵뇒뷰죚뫏ퟷ,퓚헢룶뷗뛎,뫏ퟷ뇭쿖캪뛠뇟탔ꆢ폐훆뛈뫍ퟩ횯믺릹놣헏ꆣ믣싊믺훆뫏ퟷ춨뎣닉좡믣싊쒿뇪쟸뗄랽쪽,튻냣폐뇈뷏쟥컺뗄룉풤뷧쿞ꆢ룉풤퓰죎,늢폐믹뷰놣헏쫐뎡룉풤뗄뷸탐,믹뷰튲춬쪱폃폚뷢뻶돉풱맺뗄맺볊쫕횧컊쳢ꆣ1979쓪뗄얷훞믵뇒쳥쾵뻍쫇헢룶뷗뛎짏뗄믵뇒뫏ퟷꆣ뗚죽룶닣듎쫇춳튻믵뇒ꆣ퓚헢룶뷗뛎,돉풱맺헾닟킭뗷뗄돌뛈뫜룟,뫪맛뺭볃ힴ뿶듯떽룟뛈킭춬,뫏ퟷ쟸폲쓚횻듦퓚튻훖믵뇒,룷돉풱쳥뗄훐퇫틸탐쿻쪧,쟸폲쓚평춳튻뗄훐퇫틸탐쪵쪩춳튻뗄믵뇒헾닟,돉풱맺뗄닆헾헾닟튲듯떽룟뛈춳튻ꆣ얷풪뗄떮짺뇪횾ퟅ얷훞뗄뺭볃튻쳥뮯떽듯헢룶뷗뛎ꆣ뗚뛾룶뫍뗚죽룶닣듎뗄믵뇒뷰죚뫏ퟷ쫴폚쿁틥뷰죚믵뇒뫏ퟷ뗄쓚죝ꆣ뛾ꆡ믵뇒뷰죚뫏ퟷ뗄샭싛믹뒡ꆪꆪꆪퟮ폅믵뇒쟸샭싛뗄탂랢햹1961쓪Mundell쳡돶ퟮ폅믵뇒쟸뗄룅쓮,쫇횸듓돉놾뫍쫕틦뷇뛈뫢솿,듦퓚뢡뚯믣싊뫍만뚨믣싊뗄ퟮ폅쟸폲럖뷧,퓚쟸폲쓚캬돖만뚨믣싊(믲닉폃릲춬믵뇒),뛸뗘쟸횮췢놣돖뢡뚯믣싊ꆣ룃샭싛쪵볊짏횸돶만뚨믣싊뫍뢡뚯믣싊쎻폐뻸뛔뗄폅쇓횮럖,튻맺톡퓱쪲쎴퇹뗄믣싊훆뛈,퓚쪲쎴쳵볾쿂쿲믵뇒튻쳥뮯랢햹,펦룃뻟쳥럖컶늻춬믣싊낲업뗄돉놾뫍쫕틦ꆣ20쫀볍80쓪듺쳘뇰쫇90쓪듺틔살,얷훞믵뇒폫뺭볃뫏ퟷ뗄쿖쪵랢햹쪹ퟮ폅믵뇒쟸(OptimalCurren2cyAreas,OCA)샭싛폫쪵볹뗄퇐뺿돶쿖탂뗄룟뎱,죋쏇퓚튻냣뻹뫢뿲볜쿂ퟛ뫏쇋퓧웚뗄룷훖떥튻뇪ힼ럖컶,늢뷸튻늽첽쳖쇋믣싊훆뛈춬뺭볃튻쳥뮯쿠뮥펰쿬뗄뚯첬맘쾵,캬돖쇋쳥쾵뗄뾪럅탔뫍짺쏼솦,튲벫듳뗘횧돖쇋믵뇒뫏ퟷ쪵볹뗄랢햹ꆣ(튻)20쫀볍90쓪듺틔살ퟮ폅믵뇒쟸샭싛뗄랢햹ퟜ쳥살쮵,20쫀볍90쓪듺틔살폐맘OCA샭싛뫍뺭퇩퇐뺿뗄ퟮ탂랢햹쳥쿖퓚틔쿂솽룶랽쏦ꆣ11OCA뗄튻냣뻹뫢쒣탍폫OCA횸쫽ꆣ튻냣뻹뫢쒣탍:Bayoumi(1994)ꆢMelitz(1995)ꆢRicci(1997)ꆢ쫀뷧뺭볃3ꆡ2005쓪뗚5웚ꆡꆤ13ꆤ' 1994-2014 China Academic Journal Electronic Publishing House. All rights reserved.
ꆡꆡAPEC뗄믵뇒뷰죚뫏ퟷ:뺭볃믹뒡폫릹쿫Beine뫍Docquier(1998)뗈죋붨솢쇋볲떥뗄햳탔볛룱뗄튻냣뻹뫢쒣탍,럖컶쪵훊뺭볃쳵볾(쪵볊돥믷쿠맘뛈ꆢ튪쯘쇷뚯탔ꆢ뾪럅뛈ꆢ닺돶뛠퇹뮯)뛔폚OCA돉놾뫍쫕틦뗄펰쿬;뛸Neumeyer(1998)ꆢCanzoneri뫍Rogers(1990)퓲뷸튻늽뾼싇쇋닺쫐뎡쳘헷ꆣBayoumi(1994)퇩횤쇋뒫춳뗄튪쯘쇷뚯탔ꆢ뺭볃뾪럅뛈틔벰뛠퇹뮯뇪ힼ;Ricci(1997)싛횤쇋쪵볊돥믷뗄쿠맘탔ꆢ쎳틗솪쾵ꆢ닆헾틆ꆢ샍뚯솦쇷뚯탔돌뛈뫍돉풱볤춨믵엲헍닮틬뛔볓죫믵뇒춬쏋뗄뢣샻뗄펰쿬,죏캪ꆰ뾪럅뛈ꆱ뇪ힼ뛔믵뇒춬쏋뢣샻뗄펰쿬쫇늻좷뚨뗄,뺡맜쯼퓶볓쇋붻틗돉놾쿂붵뗄쫕틦,늢쪹믣싊ퟷ캪뛌웚뗷헻쿠뛔볛룱뇤뚯릤뻟뗄ퟷ폃킧맻듳듲헛뿛,떫춬쪱틠퓶볓쇋쪵볊쎳틗뗄돥믷,삩듳쇋쫜돥믷뗄돌뛈ꆣBeine뫍Docquier(1998)퓚Ricci(1997)퇐뺿뗄믹뒡짏,뷸튻늽볓죫쇋릤뮺싽뗷헻뫍맺볊샍뚯솦쇷뚯뗄뚯첬쳘헷,튲뾼싇쇋평쫐뎡뫍믵뇒튻쳥뮯뷸돌떼훂뗄돥믷늻뛔돆탔뗈틲쯘ꆣ쯻쏇횸돶믵뇒춬쏋뗄돉놾뿉쓜쯦ퟅ쪱볤뛸짏짽,풭틲쫇춬쏋쯹쏦쇙뗄돥믷뿉쓜믡룼볓늻뛔돆;뛸떱돥믷캪폀뻃탔쪱,샍뚯솦쇷뚯붫쏷쿔붵뗍욽뻹쪧튵싊늢쟒캪뎤웚뻹뫢뗷헻쳡릩뇣샻;룟뗄뾪럅뛈좷쪵쓜릻퓶볓믵뇒춬쏋뗄쫕틦ꆣMelitz(1995)첽쳖쇋닺돶뫍쎳틗뷡릹뛔돆탔뗄펰쿬,늢쳡돶폃뻹뫢쪵볊믣싊뗄킭랽닮ퟷ캪ퟛ뫏뫢솿ퟮ폅믵뇒쟸뗄뇪ힼꆣ쯻횸돶,튻맺펦룃뾼싇춬쓄킩맺볒쿈돉솢믵뇒쟸쪱,튪쪹럅웺믣싊릤뻟뗄돉놾ퟮ킡뮯,벴톡퓱쫊떱뗄믯냩,쪹쪵볊뻹뫢믣싊뗄킭랽닮ퟮ킡ꆣNeumeyer(1998)붨솢쇋뾼싇놾쫐뎡뗄솽쪱웚튻냣뻹뫢쒣탍,첽쳖믵뇒쟸뗄뢣샻킧맻ꆣ쯻뗄뷡싛쫇,볈좻믵뇒춬쏋뿉틔쫓캪솦춼쪹믵뇒헾닟늻쫜헾훎돥믷펰쿬뗄튻훖믵뇒맦퓲,죴쿻돽믵뇒맽뛈늨뚯탔훐믱뗃뗄쫕틦뎬맽복짙뷰죚닺뛠퇹탔뗄돉놾,퓲닎볓믵뇒춬쏋믡퓶볓뢣샻ꆣCanzoneri뫍Rogers(1990)듓럅웺놾맺춨믵엲헍쮰쫖뛎뗄뷇뛈뫢솿만뚨믣싊뗄돉놾,늢붫웤춬쿻돽뮻풴듭엤돉놾뗄쫕틦뷸탐좨뫢ꆣퟜ쳥뛸퇔,헢킩맘폚ퟮ폅믵뇒쟸샭싛뗄튻냣뻹뫢쒣탍,쳥쿖쇋뒫춳ퟮ폅믵뇒쟸샭싛뗄튻킩뺭뗤뗄싛쫶,캪룷훖뢴퓓뗄뇪ힼ쾵춳뮯늢쓉죫춳튻뗄퇐뺿뿲볜쳡릩쇋샭싛횧돖뫍틀뻝,튲캪뺭퇩볬퇩쳡릩쇋춳튻뗄뫢솿랽램ꆣ2.ퟛ뫏뛈솿튻맺볓죫믵뇒쟸돉놾쫕틦뗄OCA횸쫽램ꆣ뒫춳뗄ퟮ폅믵뇒쟸뗄뺭퇩퇐뺿,췹췹듓떥튻뇪ힼ돶랢살첽쳖늻춬뗄맺볒싺ퟣ룷쿮뇪ힼ뗄돌뛈,떫쓑틔뗃떽튻룶ퟛ뫏탔뗄에뛏ꆣBayoumi뫍Eichen2green(1996)룹뻝튻냣뻹뫢쒣탍뗄횸떼,뒴퓬쇋OCA횸쫽램틔움맀쳘뚨뗘쟸싺ퟣOCA뇪ힼ뗄ퟛ뫏쟩뿶,늢돆횮캪ꆰOCA샭싛뗄볲뮯럖컶랽램ꆱꆣ웤믹놾싟벭퓚폚ꆰ랲펰쿬튻룶맺볒ퟶ돶쫇럱볓죫믵뇒쟸뻶닟뗄뇤솿,튻뚨믡펰쿬떽웤쮫뇟뗄믣싊(컞싛쫇쏻틥뗄뮹쫇쪵볊뗄),벴펰쿬믣싊뇤뚯뫍펰쿬헾뢮뛔폚믣싊훆뛈톡퓱뗄뺭볃믹놾틲쯘폫웤쯻쫐뎡틲쯘쫇쿠춬뗄ꆱ(BayoumiandEichengreen,1998),뛸믣싊뗄늨뚯쮮욽쿠뇈웤쯻뇤솿뛸퇔,쯹냼죝뗄탅쾢룼좫쏦,룼쓜릻랴펳펰쿬믣싊훆뛈뻶닟뗄틲쯘ꆣ룃랽램쫗쿈탨튪좷죏쓜릻뷢쫍쳘뚨쟸폲쓚쿖쪵뗄믣싊늨뚯믲믣싊룉풤탐캪뗄룷훖믹놾뇪ힼ,뗃떽믣싊뇤뚯뗄탐캪랽돌뫳,쫤죫늻춬쫽횵뗄뷢쫍뇤솿(쿖쪵쫽횵믲헟뷢쫍뇤솿뗄쟷쫆횵)뗃떽튻룶쮫뇟믣싊늨뚯탔뗄풤닢횵,틔듋첽쳖늻춬쳵볾쿂볓죫믵뇒쟸뗄ퟛ뫏돉놾쫕틦(틔믣싊늨뚯싊뫢솿)ꆣ틲캪튻룶돉릦뗄믵뇒춬쏋뗄쓚늿믣싊늨뚯싊캪쇣,틲듋,룃횸뇪풽뗍,틢캶ퟅ캬돖믵뇒춬쏋뗄ퟛ뫏돉놾풽뗍ꆣBayoumi뫍Eichengreen붨솢뗄OCA횸쫽믘맩랽돌탎쪽죧쿂:SD(e)=ꛁ+ꇆnꛂꛖijtt1ꆡꆡ웤훐,SD(e)ij쫇쮫뇟믣싊늨뚯탔,뛸Xt퓲듺뇭룹뻝ퟮ폅믵뇒쟸뇪ힼ좷뚨뗄룷쿮횸뇪퓚솽맺횮볤뗄뇭쿖ꆣ퓧웚쯻쏇톡폃쇋랴펳닺돶죅뚯뫍쪵볊돥믷ꆢ쎳틗뷡릹닮틬ꆢ쎳틗솪쾵뫍맺볒맦쒣듳킡뗄횸뇪ퟷ캪뷢쫍뇤솿,Bayoumi뫍Eichengreen(1998)퓲뷸튻늽퓶볓쇋췢믣쫐뎡룉풤뗄횸뇪(샻싊ꆢ믵뇒릩룸뇤뚯뗈)ꆢ쫀뷧뺭볃3ꆡ2005쓪뗚5웚ꆡꆤ14ꆤ' 1994-2014 China Academic Journal Electronic Publishing House. All rights reserved.
듷뷰욽ꆡ췲횾뫪ꆡꆡ믣싊훆뛈뇤솿ꆢ뾪럅뛈ꆢ췢믣쫐뎡맜훆ꆢ뷰죚쳥쾵랢햹돌뛈뫍믵뇒헾닟돥믷뗈,퓚쳞돽늻뻟폐뷢쫍킧솦뗄뫳3룶뇤솿뗃떽21룶릤튵뮯맺볒횮볤뗄쮫뇟OCA횸쫽,횸돶잱퓚뗄믵뇒뫏ퟷ뗄뫋탄돉풱(뛔쯹폐맺볒뗄OCA횸쫽ퟮ킡)ꆣ룃랽램늻뷶쫇뛔OCA샭싛쿖쪵탔뗄볬퇩,룼훘튪뗄쫇쓜릻붫OCA룷훖훷튪뇪ힼ죚뫏웰살,붨솢뿉틔랴펳ퟛ뫏뗄돉놾쫕틦뗄럖컶뿲볜,쪹죋쏇늻퓙쿝죫쿠뮥쎬뛜뗄뇪ힼ뫍쿖쿳첽쳖횮훐ꆣ(뛾)ퟮ폅믵뇒쟸뗄쓚짺탔폫ퟔ컒잿뮯Frankel뫍Rose(1996ꆢ1997)쳡돶,쎳틗뾪럅뛈뫍뺭볃뛔돆탔뗈뇪ힼ,놾짭쫇쓚짺폚믣싊훆뛈톡퓱뗄ꆣ믵뇒뫏ퟷ뿉틔듙뷸헢킩뇪ힼ쿲룼폐샻폚믵뇒뫏ퟷ뗄랽쿲퇝뷸,에뛏튻룶쟸폲쫇럱릹돉ꆰퟮ폅믵뇒쟸ꆱ,틀삵폚쟸폲쓚헢킩쓚짺뇤솿(믣싊ꆢ쎳틗솪쾵뫍뛔돆탔)횮볤뗄쿠뮥ퟷ폃맘쾵ꆣFrankel(1999)퓲뷸튻늽쏷좷쳡돶쇋ퟮ폅믵뇒쟸쓚짺탔볙뚨ꆣ쯻폃튻룶볲떥뗄춼쪾쮵쏷쇋헢훖뚯첬맘쾵ꆣ뫡ퟸ뇪쫇잱퓚믵뇒솪쏋뗄돉풱쓚늿뗄쿠뮥쎳틗솪쾵(랴펳쎳틗튻쳥뮯돌뛈),뛸ퟝ훡쫇잱퓚믵뇒솪쏋뗄돉풱뗄닺돶쿠맘뛈,랴펳뫪맛뺭볃훜웚뫍뺭볃뷡릹튻훂탔ꆣ쯦ퟅ쟸쓚쎳틗솪쾵뗄퓶볓,볓죫믵뇒쟸뗄쫕틦(붻틗돉놾뗄뷚풼)붫짏짽;뛸쯦ퟅ닺돶쿠맘뛈뗄퓶볓,럅웺뛀솢뗄믵뇒헾닟뗄돉놾붫쿂붵,틲듋쪹닎폫헟볓죫믵뇒쟸뺻쫕틦캪쇣뗄쇙뷧쿟ꆪꆪꆪ뚨틥캪OCA쿟킱싊캪뢺,웤폒짏랽,듺뇭볓죫믵뇒쟸믡믱뗃뺻쫕틦;퓚쿟뗄ퟳ쿂랽,틢캶볓죫믵뇒쟸붫헐훂뺻쯰쪧ꆣ춼1ꆡ뚯첬뇪ힼ폫ퟮ폅믵뇒쟸뗄쓚짺탔볙짨A맺떱잰뒦폚춼훐뗄Q1뗣,뻍뛌웚뾴,룃맺뗄뺭볃믹놾틲쯘뻶뚨쇋룃맺죧맻볓죫믵뇒쟸믡헐훂뺻쯰쪧;떫쫇죧맻퓚쎳틗솪쾵뫍닺돶쿠맘뛈횮볤듦퓚헽쿲뗄솪쾵,춼훐RR1쟺쿟뗄킱싊캪헽횵,퓲볓죫믵뇒쟸ꆪ붵뗍붻틗돉놾ꆪ듙뷸쟸쓚쎳틗솪쾵뫍닺돶쿠맘뛈춬늽쳡룟,붵뗍볓죫믵뇒쟸뗄뺻돉놾믡탎돉솼탔뮥뚯,룃맺붫퇘ퟅRR1쟺쿟톸쯙쿲OCA쟺쿟뾿슣,쪹볓죫믵뇒쟸뗄쫕틦캪헽ꆣ틲듋,퓚춳튻믵뇒폫쟸폲쓚튻쳥뮯ꆢ쟷춬탔쿠뮥듙뷸뫍틀삵뗄쳵볾쿂,튻맺늻펦룃놻뚯뗈듽믹놾횸뇪뗄뫃횱훁싺ퟣ쯹캽뗄OCA쳵볾,뛸뿉틔춨맽쳡잰췆뚯믵뇒솪쏋뛸믱뗃쫂뫳싺ퟣ뇪ힼ뗄킧맻,늢믱뗃뢣샻뗄룄짆,뻍헢튻뗣뛸퇔,믵뇒뫏ퟷ쫇ퟔ컒잿뮯뗄ꆣ좻뛸,죧맻튻쳥뮯뗄뷸돌볓쯙쇋쟸폲쓚뺭볃뗄샫즢탔,죧춼훐RR2쟺쿟펵폐뻸뛔횵듳폚OCA쟺쿟뗄뢺킱싊,퓲볓죫믵뇒솪쏋뗄뻶닟붫늻쫇뚯첬ퟮ폅뗄ꆣKrugman(1993)횸돶,쎳틗솪쾵뗄퓶잿,뿉쓜듙뷸쟸폲쓚룷뺭볃횮볤뗄닺돶튵뮯,듓뛸쪹룷맺뗄뺭볃뷡릹닮틬탔퓶잿,돥믷뗄살풴룼볓늻뛔돆,뺭볃믹뒡뗄솪쾵붫쿂붵ꆣ맻헦죧듋뗄뮰,벴쪹튻맺떱잰싺ퟣퟮ폅믵뇒쟸뗄쿖쪵뇪ힼ,떫죧맻춬쟸쓚웤쯻맺볒뗄쎳틗뫍튻쳥뮯뷸돌볓쯙,뺭볃뗄뛔돆탔쿂붵,퓲룃맺뗄캴살쫕틦붫쫇뢺뗄,쿠펦뗄믵뇒쟸튲쫇늻컈뚨뗄ꆣFrankel뫍Rose(1996)뛔21룶릤튵맺볒횮볤뗄쎳틗솪쾵뫍닺돶쿠맘뛈뷸탐쇋뷘쏦쫽뻝뗄떥튻랽돌믘맩,횤쪵쎳틗튻쳥뮯돌뛈뗄볓짮쓜릻듙뷸맺볒볤닺돶뛔돆탔뗄퓶볓,듓뛸퇩횤쇋웤믹놾볙짨ꆣRose뫍Engel(2000)뛔쫀뷧랶캧뗄믵뇒솪쏋돉풱볤뗄쎳틗솪쾵뫍쟷춬탔뷸탐쇋퇐뺿,횤쪵춬뗈쳵볾쿂믵뇒솪쏋돉풱횮볤뇈쪹폃뛀솢믵뇒뗄맺볒펵폐룼뷴쏜뗄쎳틗솪쾵(믵뇒솪쏋볤쿠뮥쎳틗쫇뫳헟뗄3떽4놶),룼훘튪뗄쫇짌튵훜웚룼볓춬늽ꆣ틲듋,믵뇒튻쳥뮯ꆢ쎳틗튻쳥뮯춬짌튵훜웚쟷춬뗄헽쿲맘쾵뗃떽쇋쮵쏷ꆣ평폚믵뇒뫏ퟷ폐훺폚붵뗍믣싊늨뚯,뛸뫳헟춬뺭볃튻쳥뮯뫍쟸폲뛔돆탔퓶잿쏜쟐쿠맘,퓲믵뇒뫏ퟷ놾짭붫듓믣싊컈뚨ꆪ퓶잿튻쳥뮯ꆪ쳡룟쟸폲뛔돆탔뫍닺돶맘솪ꆪ퓶잿믣싊컈뚨뗄뫏틢탔솼탔톭뮷훐믱쫀뷧뺭볃3ꆡ2005쓪뗚5웚ꆡꆤ15ꆤ' 1994-2014 China Academic Journal Electronic Publishing House. All rights reserved.
ꆡꆡAPEC뗄믵뇒뷰죚뫏ퟷ:뺭볃믹뒡폫릹쿫뗃뚯첬쫕틦ꆣ틲듋,틔믵뇒뫏ퟷ뗄랽쪽듙뷸뺭볃죚뫏뫍랢햹,늢쟒췆뚯룼짮닣듎뗄믵뇒뫏ퟷ,돉캪얷훞뺭퇩뗄튻룶훷튪웴쪾ꆣ죽ꆡAPEC믵뇒뷰죚뫏ퟷ뗄뺭볃믹뒡럖컶APEC뗄쎳틗튻쳥뮯돌뛈뷏룟,떫쫇쟸폲쓚뗄놾쇷뚯뫍튪쯘쇷뚯,쟸폲돉풱퓚랢햹돌뛈ꆢ닺튵뷡릹뫍쎳틗뷡릹틔벰퓚쏦쇙뗄돥믷뛔돆탔짏,퓚쿖탐뗄믣싊훆뛈뫍믣싊낲업짏뻹듦퓚뷏듳뗄닮틬탔,APEC헻쳥ퟩ붨믵뇒쟸컞싛쫇듓뺭볃믹뒡,뮹쫇듓헾훎틢춼짏,퓚훐웚쓚뚼쫇늻뿉쓜뗄ꆣ떫쫇,APEC쒿잰틑뺭틾틾탎돉틔쏀맺캪뫋탄뗄쏀훞쏀풪쟸뫍뚫퇇믵뇒쟸솽듳돻탎,캴살APEC뗄믵뇒뫏ퟷ랢햹뫜뿉쓜돊쿖ꆰ쮫벫ꆱ뗄첬쫆,뛸뚫퇇믵뇒쟸훐쏀풪튲붫볌탸랢믓훘튪뗄ퟷ폃ꆣ(튻)APEC쟸폲믵뇒뷰죚뫏ퟷ뗄폐샻틲쯘룹뻝컒쏇뗄럖컶,APEC뷸탐쟸폲믵뇒뫏ퟷ뗄폐샻틲쯘냼삨:1.뻍쎳틗뫍놾쇷뚯뛸퇔,APEC쟸폲폐ퟅ뷏룟뗄튻쳥뮯돌뛈,짵훁룟폚쿖쪵뗄믵뇒쟸얷쏋;뛸뚫퇇뫍놱쏀솽듳냥뿩룷ퟔ뗄쎳틗ퟔ평뮯뷸돌뗄볓뿬,튲쪹뗃쪵쿖믣싊컈뚨ꆢ붵뗍믣싊늨뚯탔듓뛸뇣샻춶폫쎳틗돉캪룷맺랢햹쟸폲튻쳥뮯뗄훷튪풸췻ꆣ돉풱볤쎳틗춶솪쾵뫍뫪맛뺭볃틀삵탔뗄볓잿,붫폐훺폚믵뇒뫏ퟷ뗄짮죫뷸탐ꆣ돉풱웕뇩뻟폐뷏룟뗄쎳틗뾪럅돌뛈뫍ퟛ뫏뾪럅돌뛈,춨뎣뾪럅뛈풽룟뗄맺볒,듓컈뚨믣싊뗄믵뇒뫏ퟷ훐쯹믱뗃뗄쫕틦풽룟,풽쟣쿲폚뷸탐믣싊뫏ퟷꆣ돉풱쳘뇰쫇뚫퇇돉풱펵폐럡뢻뗄췢믣뒢놸풴,뛸쏀맺퓲쫇뒢놸믵뇒랢탐맺,헢솽룶틲쯘뷡뫏웰살,APEC돉풱쓜릻춨맽붨솢쒳훖뒢놸릲쿭믲헟믵뇒뮥뮻믺훆,헻뫏뒢놸풴,퓋폃뒢놸닺럀랶뷰죚캣믺믲뷸탐쫂뫳뻈풮ꆣ4.뺭샺쇋뷰죚캣믺횮뫳,APEC뗄랢햹훐돉풱뫍랢듯돉풱뻹죏쪶떽쇋퓚쿖탐뗄ꆰ컞훆뛈ꆱ뗄맺볊뷰죚뿲볜쿂,쟸폲맺볒횮볤쪵탐뷴쏜뗄믵뇒믣싊훆뛈낲업붫폐훺폚럀랶믵뇒돥믷,늢뮺뷢뷰죚캣믺ꆣ듓럀랶캣믺뷇뛈돶랢,탭뛠맺볒뇭듯쇋뷸탐믵뇒뫏ퟷ뗄풸췻ꆣ쇭췢,얷풪뗄돉릦웴뚯캪룷맺랢햹믵뇒뫏ퟷ횸틽쇋튻쳵쿖쪵뗀슷,뚫퇇뗘쟸맘폚볓잿믵뇒뫏ퟷ뗄뫴짹퓙뛈룟헇,캪믵뇒뫏ퟷ쳡릩쇋폟싛짏뗄ힼ놸ꆣ뿲볜쿂,뛠훖뺭볃뫏ퟷퟩ횯늢듦뗄쿖ힴ,붫폐훺폚퓚늻춬뗄닣쏦짏퓶뷸쪵쳥뺭볃뫏ퟷ;춨맽볓잿쎳틗춶튻쳥뮯,볓잿룷돉풱퓚룷닣듎짏뗄헾닟뛔뮰폫킭짌,틔벰돵늽뗄훆뛈탔낲업뫍탅쾢릲쿭,붫캪캴살뗄믣싊뫏ퟷ믺훆쳡릩훆뛈탔뗄믹뒡ꆣ듓얷풪떮짺뗄뺭퇩뿉틔뾴돶,믵뇒튻쳥뮯폫쪵쳥뺭볃튻쳥뮯쫇쏜늻뿉럖쿠뮥듙뷸뗄ꆣ떱잰퓚APEC쓚늿,룷훖닣듎뫍맦쒣뗄쎳틗튻쳥뮯ퟩ횯튲헽퓚랢믓룷ퟔ뗄ퟷ폃ꆣ듓뇣샻뺭볃붻췹ꆢ컈뚨뺭볃뗄뷇뛈돶랢,룷맺붫죕틦퓶잿믵뇒뫏ퟷ뗄풸췻,퓚쪵쳥뺭볃튻쳥뮯뗄믹뒡짏췆뷸믵뇒튻쳥뮯뗄뷸돌ꆣ쒿잰APEC틑뺭듦퓚뗄튻쳥뮯돌뛈뷏룟뗄ퟩ횯냼삨놱쏀ퟔ평쎳틗쟸(NAFTA)뫍뚫쏋(ASEAN),퓚쏀훞뗘쟸,NAFTA붫훰늽놻춳튻뗄쏀훞ퟔ평쎳틗쟸(2005쓪돉솢)쯹좡듺,훇샻ꆢ쏘슳뗈삭뚡쏀훞돉풱붫훰늽볓죫떽헢훖쓏놱뫏ퟷ뗄쎳틗룱뻖훐살,뷸튻늽퓶잿뺭볃뗄뮥늹탔ꆣ삭뚡쏀훞튻킩돉풱틑뺭닉폃쇋췪좫쏀풪뮯뗄믵뇒헾닟,뮹폐튻킩맺볒헽퓚뷸탐쏀풪뮯뗄얬솦,쒫컷룧뫍볓쓃듳퓲뾪쪼첽쳖퓚놾맺쪵쪩쏀풪뮯뗄뿉탐탔ꆣ떫쫇폫웤쯻삭쏀맺볒늻춬,볓쒫솽맺룼뛠맘힢쓜럱폫쏀맺쪵쿖쮫뇟믵뇒솪쏋ꆣ퓚뚫퇇뗘쟸,뚫쏋10+3ꆢ10+1뗈탐뚯튲캪쪵쿖쟸폲쓚쎳틗춶뗄뷸튻늽죚뫏뗬뚨쇋훆뛈믹뒡;퓚듳퇳훞,냄듳샻퇇춬탂컷삼틑뺭탎돉뷴쏜뗄쎳틗맘쾵;돽듋횮췢,뮹듦퓚룷훖쿠뮥붻닦뗄쮫뇟쎳틗춶킭뚨ꆣ헢킩닣듎쫀뷧뺭볃3ꆡ2005쓪뗚5웚ꆡꆤ16ꆤ' 1994-2014 China Academic Journal Electronic Publishing House. All rights reserved.
듷뷰욽ꆡ췲횾뫪ꆡꆡ룷틬뗄쎳틗춶튻쳥뮯ퟩ횯뗄듦퓚,뇭쏷APEC쓚늿룷돉풱횮볤붫춨맽볓잿맺볒횮볤퓚쎳틗ꆢ춶컊쳢짏뗄첸에뫍맺쓚헾닟킭뗷,붨솢훆뛈탔뗄뫏ퟷ붻쇷믺훆,캪쪵쿖캴살뗄믵뇒뫏ퟷ쳡릩뺭퇩뫍훆뛈ힼ놸ꆣ듓APEC쯹맘힢뗄틩쳢살뾴,믵뇒뷰죚뫏ퟷ틑뺭돉캪훘튪쓚죝횮튻ꆣ1997쓪APEC듯돉십쓡삭뷰죚뫏ퟷ뿲볜,퓚듋믹뒡짏,APEC쒿잰뗄릤ퟷ냼삨:붨솢풤뺯뫍풤럀믺훆,돉솢APEC뷰죚풤뺯킡ퟩ(평훷튪뺭볃쳥뗄닆뎤뫍뷰죚볒ퟩ돉);볓잿뫪맛뺭볃킭뗷,붨솢APEC뷴벱뷰풮훺믺훆;훆뚨APEC뷰죚탐캪맦퓲,뛔뗘쟸듳뛮놾쇷뚯뷸탐볠뚽;붨솢APEC뷰죚엠통믺릹,쳡룟랢햹훐뺭볃쳥뗄뷰죚뺭펪뫍맜샭쓜솦ꆣ2001쓪뗚냋뷬APEC닆헾늿뎤믡틩춨맽쇋ꆶ맺볊뷰죚뿲볜룄룯뗄뷸햹놨룦ꆷ,2003쓪닆헾늿뎤믡틩퓲틔뒴붨APEC뗘쟸뗄뷰죚뫏ퟷ뿲볜욽첨캪틩쳢,헢뇭쏷룷돉풱뛔폚믵뇒뷰죚뫏ퟷ뗄죈쟩ꆣ듋췢,춳튻얷훞믵뇒뗄떮짺틔벰헽퓚뷸탐뗄얷풪쟸뚫삩,컞탎횮훐룸퇇첫뗘쟸룷맺퓶볓쇋뷸탐믵뇒뫏ퟷ뗄톹솦뫍뚯솦ꆣ퓚쏀훞,틔쏀맺캪뫋탄뗄쏀풪쟸틑뺭틾틾돉탍,뛸퇇첫룷맺튲뾪쪼믽벫톰쟳믵뇒뷰죚뫏ퟷ뗄춾뺶,죕놾ꆢ훐맺ꆢ몫맺춬뚫쏋잩뚩뗄ꆶ쟥싵킭틩ꆷ뇪횾ퟅ뚫퇇뗘쟸쿲믵뇒뫏ퟷ싵돶ퟮ돵뗄튻늽,뛸냄탂솽맺튲헽퓚믽벫첽쳖볓죫뚫퇇믵뇒뫏ퟷ뗄뿉탐탔뫍뻟쳥랽낸ꆣ평폚믵뇒뫏ퟷ뮹짦벰떽헾훎닣쏦ꆢ짧믡닣쏦ꆢ췢붻닣쏦뗈뛠랽쏦틲쯘,틲듋떱잰APEC돉풱쳘뇰쫇뚫퇇뗘쟸룷헾뢮뫍톧쫵뷧ꆢ짌뷧뛔폚믵뇒뫏ퟷ뗄죈쟩,컞틉캪캴살뗄뷸튻늽믵뇒뫏ퟷ쳡릩쇋폟싛ힼ놸ꆣ(뛾)APEC뷸탐믵뇒뫏ퟷ뗄늻샻틲쯘뺡맜쏀훞쏀풪뮯컊쳢뫍뚫퇇믵뇒뫏ퟷ뗄컊쳢돉캪맺볊뺭볃컊쳢뗄붹뗣,떫뚫퇇뗘쟸뗄믵뇒뫏ퟷ릤ퟷ죔춣쇴퓚잰웚뛔믵뇒뫏ퟷ뿉탐탔뗄싛횤뷗뛎,뛔믵뇒뫏ퟷ닉좡뗄랽쪽ꆢ믵뇒뫏ퟷ쯹짦벰뗄맺볒랶캧ꆢ뻟쳥쪵쪩랽낸뗈첽쳖뇭쏷,쒿잰APEC헻쳥냼삨뚫퇇뗘쟸췆탐룟닣듎뗄믵뇒뫏ퟷ(벴믣싊뫏ퟷ)뗄쳵볾뮹늻뻟놸,훷튪뗄튻킩늻샻틲쯘냼삨:1.룷맺랢햹쮮욽닮틬틔벰평듋탎돉뗄헾닟욫뫃닮틬쫇믵뇒뫏ퟷ뗄뺭볃믹뒡탔헏낭ꆣAPEC돉풱훚뛠,뗘샭캻훃럖즢,룷맺뗄뺭볃짧믡랢햹쮮욽뗄닮틬뇈뷏듳,퓚풴?뢳ꆢ쎳틗뷡릹ꆢ짺닺뷡릹랽쏦,뺭볃쳥훆뫍뺭볃헾닟랽쏦,뺭볃랢햹쒣쪽뫍뺭볃횸떼쮼쿫짏튲룷늻쿠춬,평듋쪹뗃룷돉풱뗄뺭볃훜웚ꆢ쏦쇙뗄쓚늿뫍췢늿돥믷뗄ퟷ폃랽쿲ꆢ펰쿬틲쯘룷늻쿠춬,뛔돥믷뗄쓚퓚뗷헻랽쪽뫍쯙뛈튲늻쿠춬ꆣ뛔폚탨튪룟뛈킭뗷믵뇒헾닟뫍믣싊헾닟뗄믵뇒뫏ퟷ쒿뇪뛸퇔,헢킩닮틬탔컞틉퓶듳쇋믵뇒뫏ퟷ뗄돉놾ꆣ2.듓룷맺뷰죚랢햹뫍쟸폲뷰죚쫐뎡쿖ힴ살뾴,퓚뷰죚랢햹돌뛈ꆢ뷰죚쳥쾵쳘헷짏닮틬뷏듳,뛔틸탐쾵춳뗄틀삵탔늻춬,늻춬돉풱뗄뷰죚믺릹뗄컈뚨탔뫍낲좫탔닮틬뷏듳,맺쓚뷰죚쫐뎡뗄짮뛈뫍맣뛈늻춬,랢햹훐돉풱웕뇩좱랦럖즢믲훘탂엤훃럧쿕뗄뷰죚릤뻟,듓뛸쪹뗃뷰죚믺릹뛔폚뷰죚럧쿕,쳘뇰쫇믣싊뫍샻싊럧쿕뗄돐쫜쓜솦폐ퟅ뷏듳뗄닮뇰,퓲춬퇹솦뛈뫍ퟷ폃랽쿲뗄믵뇒헾닟뿉쓜믡퓚늻춬뗄돉풱뷰죚쾵춳쓚늿닺짺늻춬뗄돉놾,헢훖뷰죚쳥쾵쿖ힴ뗄닮틬탔돉캪룷돉풱뷸탐믵뇒뫏ퟷ뗄훷튪맋싇ꆣ3.듓믣싊훆뛈뗄쿖쪵살뾴,룷맺믣싊훆뛈뫍췢믣맜훆훆뛈닮틬탎돉쇋믵뇒뫏ퟷ뗄훆뛈탔헏낭ꆣ쟸폲뛠쫽맺볒닉폃뢡뚯믣싊훆뛈,퓚믵뇒헾닟짏놣돖ퟅ튻뚨뗄뛀솢탔,죧맻뷸탐믣싊뫏ퟷ,늿럖믲헟좫늿죃뛉믵뇒헾닟ퟔ훷좨붫튪쟳룷맺뇤룯맽좥쯹탎돉뗄믵뇒헾닟뻶닟뫍뒫뚯믺훆,뛔룷맺믵뇒헾닟뻶닟뫍횴탐쓜솦듸살쳴햽,뛔룷맺맜샭믣싊뗄쓜솦튲듸살쳴햽,뛸랢햹훐돉풱뫍짙쫽랢듯돉풱쪵쪩뗄췢믣맜훆듫쪩붫돉캪룷맺뷸탐췢믣쫐뎡룉풤뗄헏낭ꆣ4.듓APEC믺훆놾짭살뾴,듦퓚늻뿉뿋럾뗄좱쿝,ퟨ낭쇋듳랶캧짮닣듎믵뇒뫏ퟷ뗄뷸탐ꆣAPEC놾짭쫇튻룶뾪럅뗄쯉즢뗄싛첳탔ퟩ횯,ꆰAPEC랽쪽ꆱ냼삨ꆰퟔ훷ퟔ풸킭짌튻훂ꆱ뗄ꆰ럇믺훆뮯ꆱ풭퓲틔벰럮탐쏦쿲쫀뷧뗄ꆰ뾪럅뗄뗘쟸훷틥ꆱ풭퓲,헢솽쿮풭퓲놾짭쫇랢햹훐돉풱춬쏀맺퓚쎳틗춶ퟔ평뮯랽쏦샻틦돥춻뗄닺컯;쯤좻쓜퓚ퟮ듳쿞뛈짏놣횤돉풱뗄쟳춬듦틬,떫튲퓚헢훖쿠뮥췗킭훐붵뗍쇋뫏ퟷ뗄돌뛈,웤ퟩ쫀뷧뺭볃3ꆡ2005쓪뗚5웚ꆡꆤ17ꆤ' 1994-2014 China Academic Journal Electronic Publishing House. All rights reserved.
ꆡꆡAPEC뗄믵뇒뷰죚뫏ퟷ:뺭볃믹뒡폫릹쿫횯믺훆뗄죭죵탔늻뿉뇜쏢,APEC떱잰뗄쎳틗춶ퟔ평뮯뷸돌뇘탫쫊펦ퟮ놣쫘돉풱뗄뷚ퟠ뻍쫇뗤탍뗄샽ퟓꆣ듋췢,평폚APECퟩ횯닉폃킭짌믺훆,듓뛸늻듦퓚뎬맺볒뗄뻶닟뫍맺볒쏱ퟥ좨솦뗄죃뛉,잿뗷쇩믮탔ꆢퟔ훷탔뇘좻믡쪹풼쫸믺훆죵뮯,뇭쿖돶쏷쿔뗄샫탄솦쳘헷ꆣ듋췢,평폚좱랦풼쫸믺훆,쎻폐돐억놣헏쳵뿮뫍돍랣탔훆풼쳵뿮,룷돉풱뗄떥뇟탐뚯돐억죧맻좱랦맺쓚쿠맘솢램횧돖,퓲헢킩돐억늢쎻폐실쪵뗄놣횤ꆣ틲듋,퓚APEC랶캧쓚,룷훖웤쯻탎쪽뗄훆뛈탔풼쫸탔뗄튻쳥뮯ퟩ횯뗄탋쪢,잡잡뇭쏷룷늻춬샻틦쒿뇪좺쳥쾣췻퓚킡랶캧쓚뷸튻늽췆뷸뫏ퟷ뷸돌,늢쟒뇜쏢웤쯻벯췅듮뇣뎵뗄풸췻ꆣퟜ쳥뛸퇔,APEC룷쿮얬솦뗄쮳샻뷸탐뻹좡뻶폚돉풱헾뢮뫍릫훚뗄횧돖,APEC틩쳢탨튪좫쳥돉풱튻훂춨맽,쪹뗃룷맺샻틦돥춻뇘좻믡ퟨ낭죎뫎뫏ퟷ뷸돌뗄볓뿬,쒿잰뗄쎳틗춶ퟔ평뮯뷸돌뷶쓜놣돖춬룷맺퓚WTO뿲볜쿂뗄돐억쿠튻훂뗄쮮ힼ,룼늻튪쮵뷸탐짮죫뗄믵뇒헾닟킭뗷뫍믣싊뫏ퟷ쇋ꆣAPEC돉풱룼뿉쓜톡퓱뻟폐풼쫸솦뗄튻쳥뮯ퟩ횯벯췅캪틀췐랢햹믵뇒뷰죚뫏ퟷ,샽죧쏀맺틀삵웤퓚쏀훞뗄뺭볃훷떼뗘캻,틔NAFTA캪믹뒡,랢햹믵뇒뫏ퟷ럖웧뷏킡;쿠랴,퓚뚫퇇뗘쟸쒿잰10+3뷶뒦폚웰늽뷗뛎,훐맺ꆢ죕놾뻹쫇뺭볃맦쒣뷏듳뗄맺볒,쏀맺뛔뚫퇇뗘쟸뗄펰쿬죔좻럇뎣훘튪,틲뛸뚫퇇뗘쟸퓚믣싊뫏ퟷ뗄뫋탄맺볒뫍믵뇒톡퓱짏쿠뛔튪삧쓑뗃뛠,평듋틽랢뗄헾훎뺭볃컊쳢튲룼뢴퓓ꆣ(죽)맘폚APEC믵뇒뷰죚뫏ퟷ뺭볃믹뒡뗄뷡싛ퟛ뫏짏쫶뗄럖컶,룹뻝믵뇒튻쳥뮯샭싛(훷튪쫇ퟮ폅믵뇒쟸샭싛)에뛏,APEC떱잰늢늻뻟놸퓚쟸폲쓚쪵탐만뚨믣싊낲업뗄쳵볾뫍뇪ힼ,뻟쳥뇭쿖퓚APEC돉풱뗄뺭볃믹뒡뷡릹ꆢ쎳틗뷡릹ꆢ닺돶쿠맘탔ꆢ헾닟욫뫃쿠쯆탔ꆢ춨믵엲헍쿠쯆돌뛈틔벰쿖탐믣싊훆뛈뫍놾맜훆듫쪩뗈뗄닮틬ꆣ뷶듓뺭볃뷇뛈살뾴,APEC췆뷸믵뇒뷰죚뗄뫏ퟷ죔뒦폚ힼ놸뷗뛎,늢쟒룃뷗뛎붫퓚튻뚨쪱볤쓚뎤웚듦퓚ꆣ죧맻뷸튻늽뾼싇떽헾훎짏뗄컊쳢,퓲APEC믵뇒뫏ퟷ뗄잰뺰늢늻샖맛ꆣ쇭튻랽쏦,뺡맜APEC떱잰늻뻟놸헻쳥뷸탐믣싊뫏ퟷ뗄믹뒡,떫럡뢻뗄뷰풴뫍췢믣뒢놸풴캪뷸탐믵뇒뷰죚뫏ퟷ뗄돵벶뷗뛎ꆪꆪꆪ붨솢쟸폲뛠뇟캣믺뻈풮믺훆쳡릩쇋볡쪵뗄믹뒡ꆣAPEC랶캧쓚뺭볃튻쳥뮯쳘뇰쫇쎳틗춶튻쳥뮯뗄랢햹캪믣싊뫏ퟷ쳡릩쇋잱퓚뗄쳵볾ꆣ죧맻쟸폲뺭볃튻쳥뮯뷸돌쓜릻쮳샻췆뷸,늢쟒APEC퓚뺭볃믹뒡뷡릹ꆢ헾닟욫뫃뫍뫪맛뺭볃뇭쿖ꆢ헾닟뒫떼믺훆뗈랽쏦죕틦쟷춬,쓇쎴듓뎤웚뚯첬뷇뛈살뾴,APEC캴살뷸탐믣싊뫏ퟷ뗄헻쳥돉놾붫쯦ퟅ쟷춬뛈뗄짏짽뛸듳듳쿂붵,춬쪱듓컈뚨믣싊훐쯹믱뗃뗄쫕틦붫쯦ퟅ튻쳥뮯돌뛈뗄쳡룟뛸죕틦퓶잿,헻쳥믣싊뫏ퟷ뮹쫇횵뗃웚듽뗄ꆣ쯄ꆡAPEC믵뇒뷰죚뫏ퟷ뗄짨쿫뫍햹췻APEC돉풱웕뇩뻟폐랢햹쟸폲뷰죚쫐뎡뗄튪쟳,뛸낭폚맺뇰닮틬뫍훆뛈탔틲쯘뗄풼쫸,뷸탐랶캧맣랺ꆢ돌뛈짮죫뗄믵뇒(믣싊믺훆)뫏ퟷ쫇늻뿉쓜뗄ꆣAPEC랶캧쓚뗄믵뇒뫏ퟷ,붫돊쿖돶솽쳵훷쿟ꆢ뛠뷗뛎ꆢ뛠닣듎뗄쳘헷ꆣ쒿잰헻쳥랶캧믵뇒뷰죚뫏ퟷ뿉쓜퓚췆뚯뷰죚쫐뎡튻쳥뮯ꆢ붨솢뷰죚탅쾢붻뮻뫍맺볊볠맜랽쏦폐쯹돉뻍,뛸퓚믵뇒뫏ퟷ랽쏦,뿉쓜틔뷏뗍닣듎뗄뫏ퟷꆪꆪꆪ붨솢쟸폲캣믺뻈풮믺훆캪춻웆뿚,춨맽ퟓ쟸폲뗄믵뇒뫏ퟷ뷸돌듸뚯헻쳥믵뇒뫏ퟷ뷸돌,캴살뗄APEC뫜뿉쓜탎돉ꆰ쏀풪쟸ꆱ뫍ꆰ뚫퇇ꆱ솽룶듳뗄믵뇒뫏ퟷ냥뿩늢듦뗄룱뻖ꆣ(튻)APEC믵뇒뷰죚뫏ퟷ뗄솽쳵훷쿟뷰죚쫐뎡튻쳥뮯폫믣싊뫏ퟷ붫돉캪APEC헻쳥믵뇒뷰죚뫏ퟷ뗄솽쳵훷쿟,늢쟒듓쪵쪩쓑뛈짏뾴,APEC뷰죚쫐뎡튻쳥뮯퓚떱잰퓢쫜뗄ퟨ솦붫킡폚믣싊뫏ퟷ뗄ퟨ솦ꆣ뷰죚쫐뎡튻쳥뮯뗄쒿뇪횼퓚듙뷸쟸폲뷰죚믵뇒놾쫐뎡랢햹,붵뗍쟸폲뷰ퟔ평쇷뚯뗄헏낭,쪵쿖쫀뷧뺭볃3ꆡ2005쓪뗚5웚ꆡꆤ18ꆤ' 1994-2014 China Academic Journal Electronic Publishing House. All rights reserved.
듷뷰욽ꆡ췲횾뫪ꆡꆡ뷰뗄뫏샭엤훃뫍뷰죚볠맜킭뗷,웤쳘뗣쫇틔뷰죚쫐뎡뫏ퟷ캪훷,헾뢮춨맽볓잿뷰죚믹뒡짨쪩붨짨ꆢ릹퓬췪헻뗄뷰죚쫐뎡뿲볜쳥쾵ꆢ뷰죚탅쾢춸쏷뮯뫍탅쾢붻쇷뇣샻뮯ꆢ뷰죚볠맜쿠뮥킭뗷뗈랽쏦캪뷰죚믺릹뫍웤쯻뺭볃훷쳥뒴퓬돶튻룶솼뫃뗄뷰죚뮷뺳ꆣ퓚APEC뿲볜쿂틑뺭뾪쪼쇋돵웚뗄ힼ놸뫍쪵쪩,틲듋뻟놸풼뚨뗄쳵볾뫍믹뒡ꆣ퓚랢햹쟸폲뷰죚쫐뎡쪱,캪쇋쪵쿖닺뛠풪뮯뫍뛠훖쫐뎡뻹뫢랢햹,햮좯쫐뎡붫쫇붨짨뗄훷튪쫐뎡ꆣ랢햹햮좯쫐뎡,쳘뇰쫇뚫퇇뗘쟸햮좯쫐뎡,붫폐훺폚탎돉뫏샭뗄닺웚쿞뷡릹뫍쟸폲쓚뇈뷏춳튻뗄샻싊쮮욽폫샻싊탎돉믺훆,캪뷸튻늽뗄믣싊뫏ퟷ뒴퓬쳵볾ꆣ랢햹뷰죚쫐뎡튻쳥뮯맽돌쯹쏦쇙뗄훆뛈탔헏낭훷튪퓚폚:뷸튻늽뾪럅뷰죚럾컱쫐뎡폫럅쯉놾맜훆쿞훆뗄뷸돌붫쫜훆폚룷돉풱뷰죚쳥쾵컈뚨탔뫍뫪맛뺭볃뾪럅뗄쮳탲펰쿬,떫쿠뇈믣싊뫏ퟷ뛸퇔,뗚튻훖훆뛈탔헏낭ퟨ솦죔뿉쓜뿋럾,뛸놾맜훆헾닟퓲뫍믣싊훆뛈쏜늻뿉럖,뚼쫇믣싊뫏ퟷ랶돫훐뗄훷튪뻶닟ꆣAPEC믵뇒믣싊뫏ퟷ쫇쇭튻쳵훷쿟,춬뷰죚쫐뎡튻쳥뮯늻춬,듓뻶닟ꆢ쪵쪩떽훆뛈뗄캬뮤뫍삩햹,믵뇒(믣싊)뫏ퟷ훷튪쫇평헾뢮뷸탐뗄,뛸쟒웤펰쿬랶캧풶풶듳폚뷰죚쇬폲ꆣ춬뷰죚튻쳥뮯탨튪ퟶ돶뗄럅쯉뷰죚럾컱뫍놾맜훆헾닟쿠뇈뷏,쯹짦벰뗄믵뇒훷좨뫍뫪맛헾닟ퟔ평뛈컊쳢룼볓짮죫,틲듋웤쏦쇙뗄삧쓑튲붫룼뛠룼뢴퓓ꆣ퓚믵뇒뫏ퟷ랽쏦,떱잰뿉틔뎢쫔뷸탐캣믺럀랶뻈풮믺훆뗄붨짨릤ퟷ,틔뚫퇇ꆶ쟥싵킭틩ꆷ캪믹뒡,삩햹떽헻룶APEC랶캧쓚뷸탐,뷡뫏쏀맺뗄뒢놸믵뇒랢탐맺뗘캻뫍뚫퇇뗄뒢놸닺믽샛뗘캻,캪붡좫쟸폲뷰죚낲좫췸뫍쟸폲캣믺뻈풮믺훆뛸얬솦ꆣ룼짮죫뗄믵뇒(믣싊뫏ퟷ)믺훆,퓲뿉틔틔놱쏀뫍뚫퇇솽듳ퟓ쟸폲캪삶놾,췆뷸돵웚뗄붨짨,뗈듽쪱믺돉쫬쪱퓬뻍APECꆰ쮫벫ꆱ믵뇒뗄탂룱뻖ꆣ(뛾)APEC믵뇒뫏ퟷ뗄붥뷸탔뫍뛠닣듎탔믵뇒뫏ퟷퟜ쳥짏뿉틔럖캪죽룶뷗뛎:뗚튻뷗뛎(돵벶뷗뛎)뗄탎쪽쫇캣믺뻈풮믺훆,뻟쳥탎첬뿉틔쫇쮫뇟폫뛠뇟릲듦,훆뛈탔믲럇훆뛈탔릲듦,룃뷗뛎뛔룷맺헾닟킭뗷뗄튪쟳쫇ퟮ뗍뗄;뗚뛾뷗뛎쫇믣싊믺훆뫏ퟷ,횸틔믣싊컈뚨캪쒿뇪뗄믺훆낲업,퓚헢룶뷗뛎짏,뫏ퟷ뇭쿖캪뛠뇟탔ꆢ훆뛈탔늢뻟폐ퟩ횯믺릹놣헏,룷맺늿럖죃뛉놾맺뗄믵뇒헾닟좨솦,늢쟒돐떣캬뮤놾맺믣싊춬쒳룶뇪뗄믣싊쮮욽캬돖튻훂뗄룉풤틥컱;뗚죽뷗뛎쫇춳튻믵뇒뷗뛎,뫏ퟷ쟸폲쓚횻듦퓚튻훖믵뇒,평춳튻뗄훐퇫틸탐쪵쪩춳튻뗄믵뇒헾닟ꆣ듓APEC믵뇒뫏ퟷ살뾴,튲붫ퟱ톭틔짏죽룶늽훨훰늽뾪햹ꆣ떱잰믵뇒튻쳥뮯뮹쎻폐쳡떽APEC뗄틩쫂죕돌짏살,듓훘튪탔뾴,췆탐믵뇒튻쳥뮯뗄틢풸쫜훆폚쎳틗춶ퟔ평뮯뷸돌ꆣ쇭튻랽쏦,폫APEC쓚뺭볃랢햹뛠닣듎ꆢ듎쟸폲쎳틗튻쳥뮯뗄뛠닣듎탔쿠뛔펦,APEC늻춬듎쟸폲뫍돉풱횮볤튲듦퓚ퟅ믵뇒뷰죚뫏ퟷ믹뒡뗄늻뛔돆탔,퓚룟뛈튻쳥뮯뫍믹뒡쳵볾쿠쯆뗄듎쟸폲돉풱횮볤,듦퓚ퟅ룼짮닣듎믵뇒뫏ퟷ뗄믹뒡,틲듋믵뇒뷰죚뫏ퟷ튲붫돊쿖돶뛠닣듎뗄쳘뗣ꆣ떱잰틑뺭돶쿖뗄믵뇒뫏ퟷ뗄돵벶탎첬,뇭쏷퓚쟸폲쓚쎳틗솪쾵뷴쏜ꆢ뺭볃튻쳥뮯뷸햹뷏캪쮳샻ꆢ뺭볃믹뒡쿠쯆탔뷏듳뗄튻킩돉풱볤틑뺭뾪쪼쇋쿲믵뇒튻쳥뮯랽쏦뗄얬솦,뿉틔퓚뻟놸쳵볾뗄돉풱횮볤싊쿈쪵쿖믣싊뫏ퟷ뗄춻웆ꆣ틲듋,캴살APEC랶캧쓚뗄믵뇒뫏ퟷ,붫뻟폐뛠닣듎릲듦뗄쳘헷ꆣ헢훖뛠닣듎탔,늻뷶쳥쿖캪늻춬뗄믵뇒뫏ퟷ짮뛈,춬쪱튲쳥쿖퓚APEC랶캧쓚뛠뇟믵뇒뫏ퟷ폫쮫뇟믵뇒뫏ퟷ뗄릲듦,훆뛈탔뫏ퟷ폫럇훆뛈탔뫏ퟷ릲듦뗄쳘헷ꆣ(쯄)APEC:ꆰ쮫춷믵뇒ꆱ풶뺰햹췻듓쟸폲랶캧럖컶,캴살APEC뗄믵뇒뫏ퟷ뿉쓜돊쿖ꆰ쮫춷ꆱ믵뇒룱뻖,벴틔쏀풪캪뫋탄뗄쏀훞믵뇒쟸뫍틔쒳룶믵뇒삺ퟓ캪뫋탄뗄뚫퇇믵뇒쟸늢듦뗄뻖쏦,뛸쏀훞믵뇒튻쳥뮯뗄뷸돌붫ퟟ퓚잰쏦ꆣ퓚쏀훞,붫돶쿖튻훖떥튻믵뇒(쏀풪)캪훷떼뗄,쮫맬믺훆뗄믵뇒쟸폲ꆣ웤훐,놱쏀ퟔ평쎳틗쟸3룶돉풱뿉쓜믡뷨본얷훞뺭퇩,닉폃믣싊믺훆킭뗷,듓컈뚨뛔쏀풪뗄쮫뇟믣싊죫쫖,훰늽맽뛉떽뛔쏀풪뗄만뚨믣싊,쓋훁평쏀풪좡듺놾뇒,쪵탐뎹뗗뗄쏀풪뮯ꆣ평폚NAFTA맘쾵뷴쏜뛸쟒쯹짦벰뗄돉풱뷏짙,뷸탐믣싊뫏ퟷ뗄헾훎ퟨ솦뫍벼쫵헏낭뚼뇈뷏뗍ꆣ뛸훐쓏쏀훞쿠뛔쏀맺뛸퇔펰쿬뫜킡,틲듋쏀맺붫닉좡ퟔ평럅죎뗄쫀뷧뺭볃3ꆡ2005쓪뗚5웚ꆡꆤ19ꆤ' 1994-2014 China Academic Journal Electronic Publishing House. All rights reserved.
ꆡꆡAPEC뗄믵뇒뷰죚뫏ퟷ:뺭볃믹뒡폫릹쿫헾닟,평뫳헟쪵쪩떥뇟쏀풪뮯뗄뷸돌,늢뢺떣뛔쏀풪컈뚨믣싊뗄퓰죎ꆣ쏀맺붫퓚NAFTA믵뇒뫏ퟷ뗄믹뒡짏,틔쏀훞ퟔ평쎳틗쟸캪틀췐,훰늽탎돉헻룶쏀훞믵뇒쟸ꆣ틔쏀맺캪뫋탄,뾼싇떽놱쏀뫍쓏쏀돉풱뗄뺭볃랢햹돌뛈춬쏀맺뗄튻쳥뮯돌뛈닮틬뷏듳,쏀훞뗄믵뇒튻쳥뮯잰뺰붫샠쯆폚얷쏋뗄쮫맬훆,틔NAFTA3맺캪뫋탄맺,쿲췢캧맺훰늽삩햹믣싊뫏ퟷ쟸ꆣ떫쫇춬얷쏋늻춬뗄쫇,쏀풪뗄잿쫆믵뇒뗘캻붫ퟣ틔퓚탂뗄믵뇒쟸훐돤떱훷떼믵뇒,듓뛸컞탨뒴붨탂뗄쟸폲믵뇒ꆣ퓚뚫퇇뗘쟸,평폚쟸폲쓚좱랦훷떼탔믵뇒,훐죕쏀죽맺뻹늻뻟놸뻸뛔뗄뺭볃훷떼뗘캻,쟸폲믵뇒튻쳥뮯뗄뷸돌붫쿠뛔뇈뷏동뮺,쒿잰뷶쓜퓚뷸탐캣믺럀랶뫍뒢놸횧풮랽쏦뷸탐듳랶캧뗄뫏ퟷ;떱좻,퓚헻쳥뗄뮺싽췆뷸뷸돌훐,늻업돽뻖늿믵뇒헻뫏뗄탇탇횮믰ꆣ캪쇋췆뷸튻쳥뮯뷸돌,뚫퇇뗘쟸뿉쓜돶쿖튻룶탂뗄쟸폲볆볛떥캻샠쯆폚ꆰACUꆱퟷ캪컈뚨믣싊뗄튻룶뫋탄닎헕,춬쪱퓚믵뇒튻쳥뮯뷸돌훐,춬퇹믡닉폃ꆰ쮫맬ꆱ랽쪽,평룷맺킭짌맦뚨쒳킩뇪ힼ,싺ퟣ뇪ힼ뗄맺볒볤붫쪵쪩룼캪퇏룱뗄믣싊쒿뇪쟸훆뛈,뛸늻싺ퟣ뇪ힼ뗄맺볒퓲퓊탭닉폃뷏듳뗄믣싊늨뚯럹뛈ꆣ닎뾼컄쿗:믴뛻컩뗂ꆢ싳뿋쳆쓉(1996):ꆶ맺볊믵뇒폫뷰죚ꆷ,놱뺩쪦랶듳톧돶냦짧ꆣ싞늼즭(2001):ꆶ맺볊튻쳥뮯뺭볃톧ꆷ,짏몣틫컄돶냦짧ꆣBayoumi,T.ꆰAFormalModelofOptimumCurrencyAreas.ꆱCEPRDiscussionPaper968,,,B.ꆰOperationalzingtheTheoryofOptimumCurrencyAreas.ꆱCEPRDiscussionPaper1484,,,F.ꆰAStochasticSimulationModelofanOptimumCurrencyArea.ꆱOpenEconomiesReview9,,,.ꆰIstheEuropeanCommunityanOptimalCurrencyArea?OptimalTaxationversustheCostofMultipleCur2rencies.ꆱAmericanEconomicReview,3(80),,.ꆰNoSingleCurrencyRegimeisRightforAllCountriesorAllTimes.ꆱNBERWorkingPaper7338,,,.ꆰTheEndogeneityoftheOptimumCurrencyAreaCriteria.ꆱNBERWorkingPaper5700,1996.ꆪꆪꆪ.ꆰIsEMUMoreJustifiableExPostThanExAnte?ꆱEuropeanEconomicReview41,1997,,JamesC.ꆰComment:TheCurrencyAreaProblemꆱ,,.,,,Y.ꆰTheTheoryofOptimumCurrencyAreas:ASurvey.ꆱIMFStaffPapers,1975,22(2).Kareken,,N.ꆰOntheInterdeterminacyofEquilibriumExchangeRates.ꆱQuarterlyJournalofEconomics96,,.ꆰTheTheoryofOptimumCurrencyAreas:AnEclecticViewꆱ,.,MonetaryProblemsoftheInternationalEconomy,:UniversityofChicagoPress,,P.ꆰLessonsofMassachusettsforEMU,ꆱ.,AdjustmentandGrowthintheEuropeanMonetaryU2nion,NewYork:CambridgeUniversityPress,1993,-261.ꆪꆪꆪ.ꆰTargetZonesandExchangeRateDynamics.ꆱQuarterlyJournalofEconomics,1990,106(3),-682ꆣMcKinnon,.ꆰOptimumCurrencyAreas.ꆱAmericanEconomicReview53,1963,.ꆰOtherPeople’sMoney:TheMicro2fundationsofOptimalCurrencyAreas.ꆱCEPRDiscussionPaper757,,J.ꆰTheCurrentImpasseinResearchonOptimumCurrencyAreas.ꆱEuropeanEconomicReview39,1995,,R.ꆰATheoryofOptimalCurrencyAreas.ꆱAmericanEconomicReview51,1961,,.ꆰCurrenciesandtheAllocationofRisk:TheWelfareEffectsofaMonetaryUnion.ꆱAmericanEconomicReview88,,.ꆰAModelofanOptimumCurrencyArea.ꆱIMFWorkingPaper,,,Charles.ꆰCurrencyUnionsandInternationalIntegration.ꆱNBERWorkingPaper,,,,.ꆰTheTheoryofOptimumCurrencyAreasandExchangeRateFlexibility.ꆱSpecialStudiesinInternationalEco2nomics11,PrincetonInternationalFinanceSection,1976.(뷘룥:2004쓪12퓂ꆡ퓰죎뇠벭:샮풪폱)쫀뷧뺭볃3ꆡ2005쓪뗚5웚ꆡꆤ20ꆤ' 1994-2014 China Academic Journal Electronic Publishing House. All rights reserved.
