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纵观2008年金融危机以来经济和金融震荡的产生与传导,我们可以清晰地认识到,全球各国正前所未有地以更多样、更复杂的方式相联系。我们也清晰地认识到,有必要更好地理解一国的发展如何在经济、金融甚至政治等各个维度溢出到千里以外的其他国家。发达经济体长期以来都是经济溢出的源头。美国、欧洲和日本的货币政策一直以来都影响着新兴市场的资本流入。而现在,无论在区域还是全球尺度,新兴经济体也开始成为经济溢出的产生者:想想中国、俄罗斯和巴西。
Looking at the emergence and transmission of economic and financial turmoil since the financial crisis in 2008, we can clearly recognize that the global countries are being linked in ever more diverse and complex ways. We also clearly recognize the need to better understand how a country’s development spills over to other countries beyond its airspace in all dimensions of economy, finance and even politics. Developed economies have long been the source of economic spillovers. The monetary policies of the United States, Europe and Japan have all along been influencing capital inflows in emerging markets. And now, emerging economies are beginning to emerge as spillover economies, both on a regional and global scale: think China, Russia and Brazil.