中国银行体系中资金过剩的效应分析--二论资金流动性过剩  

An Analysis of the Excess Liquidity in China's Banking System

作　　者：王国刚[1] 

机构地区：[1]中国社科院金融研究所副所长、研究员,100732

出　　处：《财贸经济》2008年第6期5-15,共11页Finance & Trade Economics

摘　　要：在超额准备金大量存在的条件下,提高法定准备金率并无紧缩货币的政策效应,但有着避免银根放松的政策效应;提高存贷款利率,缺乏紧缩信贷的政策功能,却有着刺激信贷增长的实践效应;2007年以后的物价、股价和房价上涨,并非主要由资金过剩所引致,相反,过剩资金的存在和增加起着抑制这些价格上涨的作用。It cannot tighten the money supply to increase the required reserve ratio under the circumstances of immense excess reserve,but it can avoid loosening the money supply.Similarly,it cannot tighten the credit loan to raise the interest rates of deposits and loans,but it can stimulate the growth of credit loans.The soaring CPI,stock price and housing prices do not result from the excess liquidity.On the contrary,the excess liquidity and its growth restrain the rapid growth of them.

关 键 词：中国银行体系 资金过剩 效应分析 

分 类 号：F822[经济管理—财政学] F224