Currency Internationalization and Its Determinants: A Comparison of the Euro and the US Dollar
- 经济学院－已发表论文 
一国货币的国际化主要取决于该国的经济实力、该国中央银行对本币国际化的态度 ,以及在位国际货币对本币国际化的影响等因素。欧元区的经济规模与美国大致相当 ,欧元有成为国际货币的潜力。但欧元区的经济状况有待改善 ,其中央银行的以价格稳定为目标的货币政策有待实践检验 ,而在位国际货币美元也会对欧元的国际化有约束作用。因此 ,欧元的国际化过程应该是极其缓慢的To what degree a country's currency is internationalized depends on many factors, such the country's economic strenght, its central bank's attitude towards internationalizing its currency, and the compact current international currency has on its own currency. The Euro area is about as large as the USA as an economic and trading unit, and the Euro has the potential of becoming an international currency. However, the economic situations in the Euro area are yet to be improved, and its central bank's monetary policy aimed at stabilizing prices remains to be proven. In addition, internationalization of the Euro is subject to various restraints from the US dollar. Internationalization of the Euro, therefore, is expected to be a slow process.