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State's Policy and International Regime regarding Increasing Capital Mobility Since the End of World War II

二战结束以来关于增加资本流动性的国家政策和国际制度

基本信息

批准号：
11620074
负责人：
KOJO Yoshiko
金额：
$ 2.24万
依托单位：
The University of Tokyo
依托单位国家：
日本
项目类别：
Grant-in-Aid for Scientific Research (C)
财政年份：
1999
资助国家：
日本
起止时间：
1999 至 2002
项目状态：
已结题

来源：
https://kaken.nii.ac.jp/grant/KAKENHI-PROJECT-11620074/
关键词：
capital mobilirity economic globalization international regime IMF 資本移動の増大

项目摘要

The aim of this research is to answer the following three points regarding state policy in increasing capital mobility, which is a new aspect of international relations since the 1980s, (1) How has state changed its perception of liberalization of capital mobility since the end of World War II? (2) How did state control capital mobility until the 1970s and how did state regulation of capital mobility affect international capital mobility? (3) How and why were international regimes of capital control founded among industrial states?As for (1), this research clarifies that under the Bretton Woods system, there was no consensus among industrial countries regarding liberalization of capital, while there was consensus regarding trade liberalization. Although the DECD countries agreed the code of Capital Liberalization in 1961, which many of existing studies regards as an example of consensus regarding capital liberalization, many industrial countries often utilized its regulation of capital mobility as policy of adjusting its domestic economy, including the. United States. As for (2), this research points out that the US regulation of capital mobility in the 1960s, which aimed to decrease capital outflow from the United States, facilitated international capital mobility in the 1960s, that is, Euro market.. This implies that increasing capital mobility in the late 1960s was not a result of international market per se, but a result of the US regulated policy. As for (3), this research particularly focused on the Basel Accord of international banking and the role of the IMF in recently increasing capital mobility. Reviewing the process of formulating the Basel Accord in 1988, this research emphasizes the importance of the type of regimes in formulating the international agreement. The case of the Basel Accord shows the soft type of regime facilitated the agreement among states.

本研究的目的是回答以下三个问题：（1）第二次世界大战结束后，国家对资本流动自由化的认识发生了怎样的变化？(2)20世纪70年代之前，国家是如何控制资本流动的？国家对资本流动的监管又是如何影响国际资本流动的？(3)国际资本管制制度是如何以及为什么在工业国家之间建立起来的？关于（1），本研究表明，在布雷顿森林体系下，工业国之间对资本自由化没有共识，但对贸易自由化有共识。尽管DECD国家在1961年达成了资本自由化准则，许多现有的研究认为这是资本自由化共识的一个例子，但许多工业国家经常利用其对资本流动的管制作为调整国内经济的政策，包括资本自由化。美国的对于（2），本研究指出，美国在20世纪60年代对资本流动的管制，旨在减少资本从美国流出，促进了20世纪60年代的国际资本流动，即欧元市场。这意味着20世纪60年代后期资本流动性的增加不是国际市场本身的结果，而是美国管制政策的结果。对于第（3）项，本研究特别关注国际银行业的巴塞尔雅阁协议和国际货币基金组织在最近增加资本流动性方面的作用。本研究回顾了1988年巴塞尔雅阁的制定过程，强调了制度类型在国际协议制定中的重要性。巴塞尔雅阁协议的案例表明，软性制度促进了各国之间的协议。