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content=\"\u7d93\u904e\u5169\u6b21\u5927\u6230\u7684\u751f\u9748\u5857\u70ad\uff0c\u6b50\u6d32\u4eba\u7d42\u65bc\u5316\u5e72\u6208\u70ba\u7389\u5e1b\uff0c\u628a\u7cbe\u529b\u7528\u5728\u7d93\u6fdf\u5408\u4f5c\uff0c\u4e00\u4f86\u6709\u5229\u65bc\u767c\u5c55\u7d93\u6fdf\uff0c\u4e8c\u4f86\u9632\u6b62\u518d\u5ea6\u6230\u722d\u3002\u6578\u5341\u5e74\u4f86\uff0c\u6b50\u6d32\u7684\u7d93\u6fdf\u6574\u5408\u7de9\u6162\u4f46\u7a69\u6b65\u767c\u5c55\uff0c\u5f9e\u4e94\u5341\u5e74\u4ee3\u53ea\u67096\u500b\u6210\u54e1\u7684\u6b50\u6d32\u5171\u540c\u5e02\u5834\uff0c\u767c\u5c55\u5230\u4eca\u592927\u500b\u6210\u54e1\u7684\u6b50\u76df\uff0c\u800c\u5408\u4f5c\u7684\u5167\u5bb9\uff0c\u5f9e\u958b\u59cb\u6642\u7684\u7164\u70ad\u548c\u92fc\u9435\uff0c\u5230\u4eca\u592920\u500b\u6210\u54e1\u5171\u7528\u7684\u6b50\u7f85\u3002 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Mundell\uff09\u3002 \u8499\u4ee3\u723e\u7279\u5225\u770b\u597d\u6b50\u7f85\u53ca\u4f7f\u7528\u55ae\u4e00\u8ca8\u5e63\u7684\u6b50\u6d32\uff0c\u4ed6\u8a8d\u70ba\u9019\u662f\u570b\u969b\u8ca8\u5e63\u9ad4\u7cfb\u7e7c1944\u5e74\u5e03\u96f7\u9813\u68ee\u6797\u6703\u8b70\u53ca1971\u5e74\u5c3c\u514b\u905c\u7e3d\u7d71\u53d6\u6d88\u7f8e\u5143\u548c\u9ec3\u91d1\u639b\u920e\u4ee5\u4f86\u6700\u91cd\u8981\u7684\u767c\u5c55\u3002\u4ed6\u4f30\u8a08\u6b50\u7f85\u5340\u5c07\u6703\u5927\u65bc\u7f8e\u5143\u5340\uff0c\u6b50\u7f85\u6703\u8207\u7f8e\u5143\u5206\u5ead\u6297\u79ae\uff0c\u6539\u8b8a\u7f8e\u5143\u4e3b\u5c0e\u7684\u570b\u969b\u683c\u5c40\uff0c\u56e0\u6b64\u5f71\u97ff\u66f4\u70ba\u6df1\u9060\u3002\u591a\u5e74\u4f86\uff0c\u6b50\u6d32\u4e3b\u8981\u570b\u5bb6\u5df2\u671d\u7740\u55ae\u4e00\u5e02\u5834\u7684\u65b9\u5411\u767c\u5c55\uff0c\u5728\u5546\u54c1\u3001\u670d\u52d9\u3001\u52de\u52d5\u529b\u548c\u8cc7\u91d1\u53ef\u4ee5\u81ea\u7531\u6d41\u901a\u5f8c\uff0c\u8ca8\u5e63\u806f\u76df\uff08monetary union\uff09\u662f\u66f4\u9032\u4e00\u6b65\u63d0\u9ad8\u7d93\u6fdf\u6548\u7387\u7684\u653f\u7b56\u3002\u7562\u7adf\u6b50\u6d32\u65e9\u57281979\u5e74\u5df2\u5efa\u7acb\u6b50\u6d32\u8ca8\u5e63\u9ad4\u7cfb\uff08European Monetary System\uff09\uff0c\u4ee5\u5fb7\u570b\u99ac\u514b\u70ba\u4e3b\u5c0e\uff0c\u5176\u4ed6\u8ca8\u5e63\u8207\u99ac\u514b\u7dad\u6301\u56fa\u5b9a\u532f\u7387\u3002\u5f9e\u7a69\u5b9a\u7684\u56fa\u5b9a\u532f\u7387\u5230\u4f7f\u7528\u540c\u4e00\u8ca8\u5e63\uff0c\u5728\u6982\u5ff5\u4e0a\u53ea\u662f\u4e00\u6b65\u4e4b\u9059\u3002 \u5340\u5167\u6d77\u562f\u5f8cGDP\u75b2\u5f31 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\uff08\u672c\u6587\u540c\u6642\u65bc\u4e8c\u96f6\u4e8c\u56db\u5e74\u4e8c\u6708\u4e03\u65e5\u8f09\u65bc\u300a\u4fe1\u5831\u300b\u300c\u9f8d\u864e\u5c71\u4e0b\u300d\u5c08\u6b04\uff09\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.hkubs.hku.hk\/tc\/research\/thought-leadership\/opinions-and-speeches\/%e6%ad%90%e7%be%85%e9%9d%a2%e4%b8%9625%e5%91%a8%e5%b9%b4\/\" \/>\n\t\t<meta property=\"article:published_time\" content=\"2024-02-07T09:58:05+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2024-02-09T03:40:15+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n\t\t<meta name=\"twitter:title\" content=\"\u6b50\u7f85\u9762\u4e1625\u5468\u5e74 - HKU Business School\" \/>\n\t\t<meta name=\"twitter:description\" content=\"\u7d93\u904e\u5169\u6b21\u5927\u6230\u7684\u751f\u9748\u5857\u70ad\uff0c\u6b50\u6d32\u4eba\u7d42\u65bc\u5316\u5e72\u6208\u70ba\u7389\u5e1b\uff0c\u628a\u7cbe\u529b\u7528\u5728\u7d93\u6fdf\u5408\u4f5c\uff0c\u4e00\u4f86\u6709\u5229\u65bc\u767c\u5c55\u7d93\u6fdf\uff0c\u4e8c\u4f86\u9632\u6b62\u518d\u5ea6\u6230\u722d\u3002\u6578\u5341\u5e74\u4f86\uff0c\u6b50\u6d32\u7684\u7d93\u6fdf\u6574\u5408\u7de9\u6162\u4f46\u7a69\u6b65\u767c\u5c55\uff0c\u5f9e\u4e94\u5341\u5e74\u4ee3\u53ea\u67096\u500b\u6210\u54e1\u7684\u6b50\u6d32\u5171\u540c\u5e02\u5834\uff0c\u767c\u5c55\u5230\u4eca\u592927\u500b\u6210\u54e1\u7684\u6b50\u76df\uff0c\u800c\u5408\u4f5c\u7684\u5167\u5bb9\uff0c\u5f9e\u958b\u59cb\u6642\u7684\u7164\u70ad\u548c\u92fc\u9435\uff0c\u5230\u4eca\u592920\u500b\u6210\u54e1\u5171\u7528\u7684\u6b50\u7f85\u3002 \u6b50\u7f85\u57281999\u5e741\u6708\u9762\u4e16\uff0c\u8ddd\u4eca\u525b\u597d\u56db\u5206\u4e00\u4e16\u7d00\u3002\u7576\u664211\u500b\u53c3\u8207\u570b\u4e4b\u9593\u76f8\u4e92\u56fa\u5b9a\u4e86\u532f\u7387\uff0c\u4ee5\u6b50\u7f85\u70ba\u8a08\u7b97\u50f9\u503c\u55ae\u4f4d\uff0c\u4e26\u5171\u540c\u628a\u8ca8\u5e63\u653f\u7b56\u4ea4\u7d66\u534a\u5e74\u524d\u6210\u7acb\u7684\u6b50\u592e\u884c\u3002\u81f32002\u5e741\u6708\uff0c\u6b50\u592e\u884c\u958b\u59cb\u767c\u884c\u6b50\u7f85\u9214\u7968\u53ca\u786c\u5e63\uff0c\u6b50\u7f85\u9042\u53d6\u4ee3\u539f\u6709\u7684\u6cd5\u90ce\u548c\u99ac\u514b\u7b49\uff0c\u6210\u70ba\u5e02\u6c11\u65e5\u5e38\u884c\u4f7f\u7684\u8ca8\u5e63\u3002\u525b\u597d1999\u5e74\u7684\u8afe\u8c9d\u723e\u7d93\u6fdf\u5b78\u734e\uff0c\u4e5f\u9812\u7d66\u4e86\u767c\u5c55\u6700\u512a\u8ca8\u5e63\u5340\u7406\u8ad6\uff08optimum currency area\uff09\u53ca\u6709\u300c\u6b50\u7f85\u4e4b\u7236\u300d\u4e4b\u7a31\u7684\u7f85\u4f2f\u7279\u30fb\u8499\u4ee3\u723e\uff08Robert Mundell\uff09\u3002 \u8499\u4ee3\u723e\u7279\u5225\u770b\u597d\u6b50\u7f85\u53ca\u4f7f\u7528\u55ae\u4e00\u8ca8\u5e63\u7684\u6b50\u6d32\uff0c\u4ed6\u8a8d\u70ba\u9019\u662f\u570b\u969b\u8ca8\u5e63\u9ad4\u7cfb\u7e7c1944\u5e74\u5e03\u96f7\u9813\u68ee\u6797\u6703\u8b70\u53ca1971\u5e74\u5c3c\u514b\u905c\u7e3d\u7d71\u53d6\u6d88\u7f8e\u5143\u548c\u9ec3\u91d1\u639b\u920e\u4ee5\u4f86\u6700\u91cd\u8981\u7684\u767c\u5c55\u3002\u4ed6\u4f30\u8a08\u6b50\u7f85\u5340\u5c07\u6703\u5927\u65bc\u7f8e\u5143\u5340\uff0c\u6b50\u7f85\u6703\u8207\u7f8e\u5143\u5206\u5ead\u6297\u79ae\uff0c\u6539\u8b8a\u7f8e\u5143\u4e3b\u5c0e\u7684\u570b\u969b\u683c\u5c40\uff0c\u56e0\u6b64\u5f71\u97ff\u66f4\u70ba\u6df1\u9060\u3002\u591a\u5e74\u4f86\uff0c\u6b50\u6d32\u4e3b\u8981\u570b\u5bb6\u5df2\u671d\u7740\u55ae\u4e00\u5e02\u5834\u7684\u65b9\u5411\u767c\u5c55\uff0c\u5728\u5546\u54c1\u3001\u670d\u52d9\u3001\u52de\u52d5\u529b\u548c\u8cc7\u91d1\u53ef\u4ee5\u81ea\u7531\u6d41\u901a\u5f8c\uff0c\u8ca8\u5e63\u806f\u76df\uff08monetary union\uff09\u662f\u66f4\u9032\u4e00\u6b65\u63d0\u9ad8\u7d93\u6fdf\u6548\u7387\u7684\u653f\u7b56\u3002\u7562\u7adf\u6b50\u6d32\u65e9\u57281979\u5e74\u5df2\u5efa\u7acb\u6b50\u6d32\u8ca8\u5e63\u9ad4\u7cfb\uff08European Monetary System\uff09\uff0c\u4ee5\u5fb7\u570b\u99ac\u514b\u70ba\u4e3b\u5c0e\uff0c\u5176\u4ed6\u8ca8\u5e63\u8207\u99ac\u514b\u7dad\u6301\u56fa\u5b9a\u532f\u7387\u3002\u5f9e\u7a69\u5b9a\u7684\u56fa\u5b9a\u532f\u7387\u5230\u4f7f\u7528\u540c\u4e00\u8ca8\u5e63\uff0c\u5728\u6982\u5ff5\u4e0a\u53ea\u662f\u4e00\u6b65\u4e4b\u9059\u3002 \u5340\u5167\u6d77\u562f\u5f8cGDP\u75b2\u5f31 \u7136\u800c\uff0c\u4e5f\u6709\u4e0d\u5c11\u4eba\u5c0d\u8ca8\u5e63\u806f\u76df\u53ca\u6b50\u7f85\u5b58\u7591\u3002\u6700\u660e\u986f\u7684\u8003\u616e\u662f\u6210\u54e1\u570b\u8981\u653e\u68c4\u7368\u7acb\u7684\u8ca8\u5e63\u653f\u7b56\uff0c\u628a\u6709\u95dc\u6c7a\u7b56\u8a17\u4ed8\u7d66\u6b50\u592e\u884c\uff0c\u4f46\u5f8c\u8005\u7684\u653f\u7b56\u76ee\u6a19\uff0c\u4e0d\u4e00\u5b9a\u7b26\u5408\u6240\u6709\u6210\u54e1\u570b\u7684\u8981\u6c42\uff0c\u53ef\u80fd\u6703\u5c0e\u81f4\u6210\u54e1\u570b\u4e4b\u9593\u7684\u4e0d\u548c\uff0c\u7279\u5225\u5728\u56b4\u91cd\u7684\u7d93\u6fdf\u91d1\u878d\u5371\u6a5f\u60c5\u6cc1\u4e0b\u3002\u6301\u9019\u4e9b\u53cd\u5c0d\u610f\u898b\u7684\uff0c\u5305\u62ec\u8457\u540d\u7684\u524d\u7f8e\u570b\u5168\u570b\u7d93\u6fdf\u7814\u7a76\u6240\uff08National Bureau of Economic Research\uff09\u884c\u653f\u7e3d\u88c1\u53ca\u54c8\u4f5b\u5927\u5b78\u6559\u6388\u99ac\u4e01\uff0e\u8cbb\u723e\u5fb7\u65af\u5766\uff08Martin Feldstein\uff09\u3002\u5728\u4ed6\u770b\u4f86\uff0c\u6b50\u6d32\u63a8\u52d5\u8ca8\u5e63\u806f\u76df\u7684\u6839\u672c\u76ee\u7684\u662f\u653f\u6cbb\u800c\u975e\u7d93\u6fdf\u8003\u616e\u3002\u8ca8\u5e63\u806f\u76df\u53ea\u662f\u70ba\u5c07\u4f86\u7684\u653f\u6cbb\u806f\u76df\u92ea\u8def\uff0c\u6b50\u6d32\u9032\u4e00\u6b65\u7d71\u4e00\u548c\u5f37\u5927\uff0c\u6703\u5728\u570b\u969b\u653f\u7d93\u4e8b\u52d9\u4e0a\u8f03\u70ba\u7368\u7acb\u81ea\u4e3b\uff0c\u4e0d\u4e00\u5b9a\u5c0d\u7f8e\u570b\u8a00\u807d\u8a08\u5f9e\uff0c\u56e0\u800c\u524a\u5f31\u7f8e\u570b\u7684\u9738\u6b0a\u5730\u4f4d\uff0c\u589e\u52a0\u5730\u7de3\u653f\u6cbb\u7684\u98a8\u96aa\u3002\u6700\u5f8c\u9019\u500b\u7d50\u8ad6\uff0c\u986f\u7136\u548c\u4eca\u5929\u773e\u591a\u7684\u5168\u7403\u5357\u65b9\uff08global south\uff09\u570b\u5bb6\u7684\u60f3\u6cd5\u4e0d\u540c\u3002 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