According to the reality of foreign currency risk management in the companies involved in foreign operations in China, learning from the experience of the western multinationals, the paper presents some management strategies for them in the third part. 根据欧美跨国公司的实践经验,结合我国涉足海外经营企业的货币风险管理现状,为我国企业提出了一些货币风险管理策略。
Our foreign exchange-based currency issuance mechanism makes monetary policy operations mainly depend on the deposit reserve ratio adjustment and open market operations. Through the impulse response function, co integration test and GRANGER causality test they prove effectiveness of these two foreign exchange hedging instruments are limited. 我国以外汇为基础的货币发行机制决定了货币政策操作主要依靠存款准备金率调节以及公开市场操作,通过脉冲响应模型、协整检验和GRANGER因果检验证明这两项外汇对冲手段都存在局限性。