外汇储备增加对中国通货膨胀的影响  

Influence of foreign exchange reserve increase on China's inflation

作　　者：李冰[1] 

机构地区：[1]大连商务职业学院经贸管理学院,辽宁大连116039

出　　处：《大连海事大学学报（社会科学版）》2009年第6期31-34,共4页Journal of Dalian Maritime University(Social Science Edition)

摘　　要：中国施行的外汇结售汇制度以及高额的国际收支顺差,造成外汇储备近10年高速增长,也导致大量基础货币被投放。基础货币又通过乘数效应成倍地放大货币供应量,使得货币供给相对需求过多,其结果是通货膨胀水平上升。通过理论和实际数据的检验过程,分析中国外汇储备增加产生的通货膨胀效应,结果证明这种效应确实存在,并推算出这种效应的反应时间和作用的大小,为货币政策的制定提供参考。Because of the implementation of the exchange settlement and sales system and the high level of the balance of payment surplus in China, the foreign exchange reserve has been increasing for about ten years. Thereby, large monetary base has been thrown in. The base money enlarges the money supply through the multiplier process. Moreover, when the supply exceeds the demand of money in circulation, inflation effect will occur. The paper analyzed the inflation effect induced by the increase of foreign exchange reserve from the view of theory and empirical study. The result is sure. Besides, it predicted the lag time of the effect and the influence, in order to give some advice to the monetary policy setting.

关 键 词：外汇储备 基础货币 通货膨胀 

分 类 号：F822.5[经济管理—财政学]