宏观经济失衡的动因及其调整方略  

Reasons of Macroeconomic Imbalances and the Adjusting Strategy

作　　者：昌忠泽[1] 

机构地区：[1]中央财经大学财经研究院,北京100081

出　　处：《改革》2007年第9期13-19,共7页Reform

基　　金：教育部哲学社会科学研究重大课题攻关项目“全球经济调整中的我国经济增长与宏观调控体系研究”（批准号：03JZD0013）之子课题“全球经济调整中的宏观调控体系研究--新时期国家经济调节的基本取向与财政金融政策的有效组合”.

摘　　要：近年来。我国经济出现内外失衡格局：内部失衡最突出的表现是储蓄、投资和消费关系的失衡（高储蓄、高投资和低消费），外部失衡则以双顺差为特征。我国经济内外失衡源于其出口导向的经济增长战略。我国的宏观经济政策必须作出新的选择。单一政策不能解决我国经济内外失衡问题，而应该更多地倚重财政政策。鉴于财政扩张与货币升值是一种有效的宏观经济政策组合．根据我国区域二元经济结构状况。应建立全国统一性和区域差异性相结合的央行货币政策调控体系。Inside and outside imbalances of China economy have come forth in the recent years.The outstanding behavior of inside imbalances is the imbalances of savings and investment as well as consumption.The character of outside imbalances is ＂double favourable balances＂.The main reason of China economic imbalances is export-oriented growth strategy.China macroeconomic policies should be chosen renewedly in the face of economic imbalances. This paper indicates：singular policy can not solve Chinese economic imbalances.The resolution of Chinese economic imbalances should rely heavily on fiscal policy .Fiscal expansion and RMB revaluation is a sort of effective policy combination. The Central Bank of China should establish the monetary policy adjustment system based on the combination of national unification and regional difference.

关 键 词：内部失衡 外部失衡 宏观经济政策 财政扩张 

分 类 号：F830.3[经济管理—金融学]