我国外汇占款对基础货币影响的实证分析  

An Empirical Analysis on the Impact of China's Funds Outstanding for Foreign Exchange upon Base Money

作　　者：张长征[1] 

机构地区：[1]中国人民银行郑州培训学院,河南郑州450011

出　　处：《河南金融管理干部学院学报》2007年第4期25-28,共4页Journal of Henan College of Financial Management Cadres

摘　　要：在我国现行的外汇体制下,外汇储备的快速增长导致外汇占款的不断增加,从而对基础货币产生了一定的影响,并致使中央银行货币政策的灵活性和独立性受到制约。运用协整理论对外汇占款与基础货币的关系进行实证分析表明:无论从长期还是短期来看,外汇占款对基础货币均具有明显的正向影响。Under the present foreign exchange regime of China, the rapid growth of foreign exchange reserve has resuited in continuous increase of the funds outstanding for foreign exchange, which hence has some impact on base money, and made flexibility and independence of central bank＇s monetary policy constrained. An empirical analysis by using con - integration theory on the relationship between the funds outstanding for foreign exchange and base money suggests that the funds outstanding for foreign exchange has a apparently positive impact on base money, seen from long - run or from short - run.

关 键 词：外汇占款 基础货币 协整分析 

分 类 号：F820.4[经济管理—财政学]