International Monetary System and Yen

近二十年来，日元在国际货币市场中发挥着越来越重要的作用。日元成为其中主要货币之一。我们的研究主要是从历史和制度的角度来厘清日元的作用。我们的分析如下：首先，20世纪80年代国际金融市场分裂为三个核心。其主要原因是美国蒙迪市场的内部结构变化。另一个主要因素是日本货币市场的同样变化。其次，分裂带来了国际货币体系的不稳定，而日元是导致体系不稳定的主要因素。

In recent twenty years, Yen have had a bigger role in the international money market. Yen became one main currency among them. Our research aims to cralify this Yen's role mainly from the historical and institutional view points.Our analyzes are as follows, firstly, the international financial market was split into three cores in the 1980s'. The primary factor of that was the internal structural change of American mondy market. The other main factor was the same change of Japanese money market. Secondary, the split brought the instability on the international monetary system and Yen was the main playr that made the system unstable.