CAJ | 학술논문

在广义虚拟经济迅速发展的今天，美国凭借美元主导国际货币地位实施量化宽松的货币政策，试图推动本国经济增长，其效果和对世界经济的影响成为关注的热点。透过本文构建的世界经济核算模型可知，主导国发行国际货币在各国资源被利用的不同情况下，对本国、他国和世界经济产生不同的影响。美元供给增长率与美国、东亚等地区和整个世界的经济增长率、通货膨胀率和出（进）口/GDP的灰色关联分析证实，美元发行对东亚等地区和世界经济增长的影响大于对本国经济的影响。美国用量化宽松政策推动本国经济增长在理论和实证方面都得不到验证。
재엄의허의경제신속발전적금천，미국빙차미원주도국제화폐지위실시양화관송적화폐정책，시도추동본국경제증장，기효과화대세계경제적영향성위관주적열점。투과본문구건적세계경제핵산모형가지，주도국발행국제화폐재각국자원피이용적불동정황하，대본국、타국화세계경제산생불동적영향。미원공급증장솔여미국、동아등지구화정개세계적경제증장솔、통화팽창솔화출（진）구/GDP적회색관련분석증실，미원발행대동아등지구화세계경제증장적영향대우대본국경제적영향。미국용양화관송정책추동본국경제증장재이론화실증방면도득불도험증。
Today of the generalized virtual economic rapidly development, the United States with the dollar-dominated international currency status implemented quantitative easing (QE) monetary policy, trying to promote their economic growth, whose effect on American economy and impact on the world economy is a hot spot of concern. It is showed that the leading country issuing international currency has different impact for their own, other countries, and on the world economy under different conditions of the resources being used by the model accounting the world economy built in this paper. The gray relation analysis on dollar sup-ply growth rate and the United States’, east Asia’ and other regions’ and t he world’s economic growth rate, inflation rate, and the export(import)/GDP, confirmed that the impact of the dollar issuing on east Asia and other regions and the world economic growth is greater than the one on American economy. The strategy that the United States promotes its economic growth with QE has not been validated in theoretical and empirical aspects.