我国巨额外汇储备对货币供应量和物价的影响研究  

A Study on the Influence of Enormous Foreign Exchange Reserves on Money Supply and Price Level

作　　者：范德胜[1] 

机构地区：[1]北京外国语大学国际商学院金融系

出　　处：《南京社会科学》2012年第7期16-21,共6页Nanjing Journal of Social Sciences

摘　　要：外汇储备的快速增长和预期物价水平上涨是目前我国国民经济的突出问题。但在1999年～2011年间,外汇储备的高速增长并没有导致货币供应量和物价水平的快速增长,原因是中央银行进行了冲销操作、改变了货币发行的结构,这种做法削弱了货币政策的独立性。对超额外汇储备的管理应进行多方面必要的改革。At present, rapid growth of Foreign Exchange Reserves and expected inflation have been concerned in Chinese economy. However, faster growth of Foreign Exchange did not result in correspondent growth of money supply and price level during 1999 -2011. The reason was that the Central Bank of China had conducted sterilizing policy, which changed the structure of currency is- suing. This practice undermined the independence of Monetary Policy. This article draws a conclusion that China should reform the management on excessive Foreign Exchange Reserve in some aspects.

关 键 词：外汇储备 外汇占款 货币供应 冲销政策 

分 类 号：F830.92[经济管理—金融学]