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一、研究现状自从2000年以来,中国开始快速积累外汇储备,目前我国外汇储备规模已经跃居全球首位。以预防动机模型、缓冲库存模型等为基础的传统储备需求理论已经无法解释中国超常规模的外汇储备积累。从本质上看,一国外汇储备增长与该国国际收支顺差有密切关系。就此看来,中国外汇储备是长期“双顺差”的结果。
I. Research Status Since 2000, China began to accumulate foreign exchange reserves rapidly. At present, China’s foreign exchange reserves have risen to the top of the world. The traditional theory of reserve demand based on prevention motivation model, buffer stock model and so on can no longer explain the accumulation of foreign exchange reserves in China’s extraordinary scale. In essence, the growth of foreign exchange reserves in a country is closely related to the country’s balance of payments surplus. In this sense, China’s foreign exchange reserves are the result of long-term “double-surpluses.”