金融抑制下低利率政策对我国经济成长负效应分析  

Negative Effects of Low Interest Rate Policy on China's Economic Growth under Financial Repression

作　　者：易宪容[1] 袁秀明[1] 

机构地区：[1]中国社会科学院金融研究所,北京100836

出　　处：《上海金融学院学报》2006年第6期14-19,共6页Journal of Shanhai Finance University

摘　　要：本文从金融抑制理论入手,指出了金融抑制下低利率对一个国家经济造成的一系列后果。全文着重分析了我国作为发展中国家在金融抑制下实行的低利率政策对经济成长造成的诸多负面影响。低利率是导致目前中国经济效率低、消费不振、资产价格不断上升及泡沫累积、就业问题突出以及产业升级缓慢等诸多矛盾和问题的关键原因所在。文章指出,适度地提高利率将有助于我国经济健康稳定地成长。Starting with the theory of financial repression, this paper argues that low interest rate policy under financial repression will lead to a series of negative consequences to a country＇s economy. The paper focuses on the consequences to the economy of China, a developing country, listing such problems as ;low economic efficiency, weak consumption, booming asset prices, asset prices bubble accumulation, unemployment and slow indus＇trial update attributed mainly to low interest rate policy. As a conclusion, the paper proposes that a modest rise in the interest rate should contribute to the healthy and stable growth of China＇s economy.

关 键 词：金融抑制 低利率 低效率 资产价格泡沫 

分 类 号：F821.0[经济管理—财政学]