流动性过剩：分层界定、判定指标及成因分析  

EXCESS LIQUIDITY:LAYER CLASSIFICATION,DETERMINATIVE INDEX AND ITS CAUSE OF FORMATION ANALYSIS

作　　者：蔡如海[1] 沈伟基[2] 

机构地区：[1]中央财经大学金融学院,北京100081 [2]中国人民大学财政金融学院,北京100872

出　　处：《经济理论与经济管理》2008年第7期46-52,共7页Economic Theory and Business Management

基　　金：教育部哲学社会科学研究重大课题攻关项目“金融体制改革和货币问题研究”(04JZD0013)

摘　　要：流动性过剩应区分为银行体系和市场两个层面,而这两个层面的流动性过剩具有完全不同的判定指标。尽管二者具有因果关系并相互影响,但它们同时并存并不是一种必然。在分析流动性过剩的成因时,人们可能忽视了以下三个重要因素:邮政储蓄资金运用方式的转变,以土地为载体的财政收入信贷化,各类新支付工具的发展等。而实行"藏汇于民"政策,增加直接融资规模和比重,优化信贷结构等,将有助于缓解我国的流动性过剩。Excess liquidity should be divided into two layers： banking system and market, and these two layers of excess liquidity each has different determinative index. Although they have causality and interaction between each other, coexistence will not be necessary. While analyzing its cause of formation, students may have ignored three important factors as follows： change of operation style in postal savings, the income of public finance gathered from land mortgage, and development of new payment instruments as well. Executing the policy of ＂foreign exchange held by the people＂, enhancing the ratio of direct financing to indirect financing, and optimizing the structure of credit will all help to ease liquidity surplus of our economy.

关 键 词：流动性过剩 分层 作用机制 成因 

分 类 号：F822.0[经济管理—财政学]