Question

摘 要翻译

货币局制度是一种汇率机制，它有两项基本原则：一是本国货币汇率钉住一种作为基准的外国货币；二是所发行的货币保证完全以 外汇储备作为后盾 。

传统的货币局制度起源于19世纪中期，是英、法等国海外殖民体系的货币发行方式，在本世纪初较为流行。本世纪五六十年代，随着政府积极干预经济的盛行，同时由于货币局带有明显的殖民时代经济色彩，原先实行货币局制度的国家纷纷采取中央银行制度。
在货币局制度下，当国际收支出现持续逆差时，当局发行货币的外汇储备就会减少，国内货币供应量也将随之减少，利率就会偏高。这将有助于减少进口需求，减缓国内经济增长速度。国内工资、物价的下跌，也会降低生产成本，增加出口竞争力。同时，货币局制度相对稳定的汇率有助于稳定投资者的信心，保持国际贸易的稳定发展

关键词；汇率机制 国际贸易 外国货币 中央银行制度 定义

Answer 1

Currency board system is an exchange rate mechanism, it has two basic principles: one is the currency exchange rate peg as a benchmark of foreign currency; 2 it is issued by the monetary guarantee completely with foreign exchange reserves as backing.

The traditional currency board system originated in the mid 19th century, Britain, France and other countries overseas colonial system currency issue method, in the beginning of this century a fashion. This century 1950s, as the government actively to intervene in the economy, at the same time because currency board prevalent evident colonial economy colour, originally executes currency board system countries have adopted the central bank system.
In the currency board system, when payments with persistent deficit, the authorities issued currency reserves can decrease, domestic money supply will decrease, interest rates will on the high side. This will help reduce the demand for imports, domestic slow economic growth. Domestic wages, prices fall, also can reduce the production cost, increase the export competitiveness. Meanwhile, the currency board system relatively stable exchange rate help stabilize investor confidence, maintain the stable development of the international trade.