中国M_2/GDP过高——基于IS-LM模型的分析  

On the Ratio of M_2 to GDP in China:An Analyses Based on IS-LM Model

作　　者：吴建军[1] 

机构地区：[1]中南财经政法大学新华金融保险学院,武汉430074

出　　处：《金融研究》2007年第05A期40-48,共9页Journal of Financial Research

摘　　要：本文通过IS-LM模型的四个参数对中国M_2/GDP过高这一现象的影响进行了分析。指出,中国M_2/GDP过高并非是简单的货币现象,而是体制缺陷的外在表现。收入分配体制不合理、投资体制不健全与金融体系不完善导致了货币经济与实体经济之间的传导机制发生断裂,进而带来M_2/GDP逐年攀升。This paper analyzes the phenomenon that the ratio of M2 to GDP in China is too high by using four parameters of IS-LM model. It indicates that high ratio of M2 to GDP is not merely a simple monetary phenomenon. Indeed, it roots from the institutional defect, unreasonable income distribution systems, incomplete investment system as well as imperfect financial system, which contribute to break the transfer mechanism between monetary economy and real economy, and then led up to the increase of the ratio of M2/GDP every year.

关 键 词：M2/GDP 边际消费倾向 投资 货币需求 

分 类 号：F832[经济管理—金融学]