日本和台湾地区流动性过剩时期情况与政策分析  

Excess Liquidity Period of Japan and Taiwan and Policy Analysis

作　　者：刘洁[1] 

机构地区：[1]中国证券监督管理委员会,北京100032

出　　处：《证券市场导报》2008年第4期4-13,共10页Securities Market Herald

摘　　要：日本和台湾地区曾在20世纪80年代后半期出现过流动性过剩。从日本和台湾地区流动性过剩的情况、原因以及在流动性过剩条件下推行的重要政策看,日本推行错误的产业和金融策略,而不是流动性过剩本身,最终使日本经济陷入衰退;而台湾地区利用流动性过剩推行产业升级战略是其20世纪90年代经济能够保持健康快速成长的主要原因,但放任流动性过剩吹起资本市场泡沫使其金融发展在20世纪90年代受到了严重挫折。Excess liquidity appeared in both Japan and Taiwan Region of China （referred as to Taiwan hereafter） in the second half of 1980s. Analyzing the situations, reasons and economic policies in Japan and Taiwan at that time will help us deal with the excess liquidity in China now. It is the wrong industrial and financial policies, not the excess liquidity, that made Japan＇ s economy plunge into the depression. Taiwan upgraded the industry by utilizing the liquidity, but its financial market fell dramatically in 1990s as Taiwan let the asset bubble boasted by the excess liquidity without doing anything.

关 键 词：流动性过剩 日本经济政策 台湾产业政策 资产泡沫 

分 类 号：F830.9[经济管理—金融学]