论利率衍生品对货币政策信用传导渠道的影响  

The Impact of Interest-rate Derivatives on Credit Channel of Monetary Policy Transmission

作　　者：斯文[1] 

机构地区：[1]上海社会科学院世界经济研究所,上海200020

出　　处：《现代财经（天津财经大学学报）》2012年第9期30-40,共11页Modern Finance and Economics：Journal of Tianjin University of Finance and Economics

摘　　要：随着衍生品市场的迅猛发展,这一市场给货币政策传导机制带来的影响日益受到广泛关注。在总结国内外已有文献的基础上,本文运用回归模型来分析我国利率衍生品市场建立和发展给货币政策信用传导渠道产生的冲击,同时通过向量自回归模型以探究利率衍生品市场与信用传导渠道之间的互相影响,最后提出完善我国货币政策传导机制的相关政策建议。With the rapid development of derivatives markets, the impact of derivatives markets on the monetary policy transmission mechanism is a growing concern. Firstly, this paper reviews the relevant literature. Secondly, based on the data from Chinese market, the paper analyzes the impact of interest rate derivatives market on the credit channel of monetary policy transmission by the regression model and the vector autoregression model. Finally, the paper puts forward the policy recommendations to improve the transmission mechanism of monetary policy in China.

关 键 词：利率衍生品 货币政策传导 信用渠道 

分 类 号：F832[经济管理—金融学]