一、香港联系汇率制度下财政政策作用的理论基础 1983年10月17日,香港开始实行港元与美元挂钩的联系汇率制度。香港的联系汇率制度,事实上来源于标准的殖民地货币发行局制度(Standard Colonial Currency Board)。香港金融管理局认为,货币发行局制度可被认为是一种以特定规则为基础的货币制度,即明确地以法律形式承诺将本币按固定汇率兑换为一定量的 I. The Theoretical Basis of the Role of Fiscal Policy under the Linked Exchange Rate System in Hong Kong On October 17, 1983, Hong Kong started to implement the linked exchange rate system linked to the Hong Kong dollar and the U.S. dollar. The linked exchange rate system in Hong Kong is in fact derived from the standard Colonial Currency Board. The Hong Kong Monetary Authority believes that the currency board system can be considered as a monetary system based on a specific rule that explicitly commits itself in legal terms to convert its currency into a fixed amount at a fixed exchange rate