货币替代的铸币税问题及其政策含义研究——以美、中及东盟等周边国家为例

    Research on Questions of Seigniorage and Policy Implications in Currency Substitution—Take America, China and ASEAN Countries As an Example

    • 摘要: 对铸币税及铸币税率计算方法进行概述的同时,对美、日、中及东盟等相关国家/地区铸币税率进行了详细比较分析,并进一步分解说明了完全货币替代后这些国家/地区铸币税率损失情况,得出如下结论:顺利推进一国货币国际化进程,实现对他国货币替代的前提条件是必须对被替代国的铸币税损失进行补偿,且再分配效应值(RE)占总损失率越高补偿效果越好。

       

      Abstract: The paper briefs on the concept of seigniorage and its measuring ways, comparing with those in America, Japan and related countries. By measuring the possible loss if they are official dollarized, the paper comes to this conclusion: to internationalize a country’s currency and substitute for another, there is a premise that the acting country should compensate for the seigniorage loss that the related country will suffer. As to the ratio of RE/LOSS, the higher it is, the better the effect.

       

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