本文利用1982～2010年的时间序列数据,实证分析资本项目开放对我国宏观经济的影响。文章发现,长期内资本项目开放与就业、经济增长以及通货膨胀之间存在长期均衡关系,其中资本项目开放度与经济增长具有正相关关系,而资本项目开放与通货膨胀及就业之间具有负相关关系;短期内资本项目开放对通货膨胀具有一定的促进作用,对经济增长有显著的促进作用。 In this paper, we use the time series data from 1982 to 2010 to empirically analyze the impact of capital account liberalization on China’s macro economy. The article finds that there is a long-term and equilibrium relationship between the openness of capital account and employment, economic growth and inflation in the long term. Among them, the openness of capital account has a positive correlation with economic growth while there is a negative correlation between the liberalization of capital account and inflation and employment Relationship; short-term capital account liberalization on inflation has a certain role in promoting economic growth have a significant role in promoting.