CAJ | 학술논문

文章尝试利用国际消费风险分担模型和福利收益分析框架，以中日韩、中国香港、中国台湾和东盟五国为样本，对东亚金融市场合作的发展程度及区域金融市场合作能否给东亚地区带来福利效用的增加进行详细的实证研究。研究结果表明：东亚地区目前的金融市场合作程度还不高，但东亚金融危机之后东亚金融市场合作程度有明显提高。实证结果也表明区域金融市场合作程度的提升将会增进东亚各经济体的福利收益水平。
문장상시이용국제소비풍험분담모형화복리수익분석광가，이중일한、중국향항、중국태만화동맹오국위양본，대동아금융시장합작적발전정도급구역금융시장합작능부급동아지구대래복리효용적증가진행상세적실증연구。연구결과표명：동아지구목전적금융시장합작정도환불고，단동아금융위궤지후동아금융시장합작정도유명현제고。실증결과야표명구역금융시장합작정도적제승장회증진동아각경제체적복리수익수평。
Based on the data from the Mainland of China,Japan,Korea as well as Hong Kong of China,Taiwan of China,and five main countries of ASEAN,the paper uses the consumption risk sharing model and the model of welfare gains to examine the degree of financial cooperation and the benefit utility from cooperation in East Asia.The results show that the current degree of financial cooperation in East Asia is not satisfactory,but it is improving after its financial crisis.The empirical research also reveals that the welfare gains increase with the improvement of financial cooperation in East Asia.