G20在资本管制问题上应该保持沉默

纽约——法国总统萨科齐在获得11月3—4日的戛纳G20峰会的主办权时,曾他呼吁IMF出台强制性的“管理办法”来规范世界经济的资本控制(我们通常更愿意称之为资本账户管制)。今年4月,IMF出台了初步方案草案。

很奇怪,跨境资本流动管制一直没有在旨在加强金融监管的G20日程中出现过。但它们却是金融波动——使人们决定加强监管的原因——的中心元素。IMF已经证明,实施资本账户管制的国家在全球金融危机中受影响最小。自2009年以来,人们已经接受甚至建议,此类管制对治理流入新兴市场的大规模“热钱”很有用。

如此说来,IMF的简易办法虽然方向正确,但却有误导嫌疑。因此,G20对IMF指导方案的支持对于一个正在试图从金融危机中复苏、同时又在预防危机重演的世界来说并不明智。

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