货币政策传导系统分形特征研究  

Research on Fractal Characteristic of Monetary Policy Transmission System

作　　者：王祥兵[1,2] 严广乐[1] 杨卫忠[1] 

机构地区：[1]上海理工大学管理学院,上海200093 [2]毕节学院经济与管理学院,贵州551700

出　　处：《管理评论》2013年第4期59-67,共9页Management Review

基　　金：上海市重点学科建设项目(S30504);贵州省教育厅人文社会科学基地基金项目(12JD191);毕节学院科研创新课题(G2013001;JG201211);贵州省科学技术基金项目(2013GZ17766)

摘　　要：货币政策传导系统是一类典型复杂经济系统,和所有复杂系统一样具有分形特征。文中首先用精细的分形理论对货币政策传导系统的组织结构、制度结构、功能、运行机制等方面进行细致的考察和研究,并利用中国货币政策传导的基础数据对货币政策的弹性分维进行实证分析,最后论述分形理论在货币政策传导系统中的机制、价值和政策含义。分形是货币政策传导系统具体存在形式,其分形特性表现为组织结构、制度结构、运行(过程)、功能等分形结构特征上。把分形理论引入货币政策传导系统的研究,为金融全球化背景下的货币政策传导机制研究提供了新的逻辑思路和视角,可以有效提高货币政策传导的效率和减少货币政策传导的阻塞效应。Monetary policy transmission system is a typical complex economic system,and has fractal phenomenon like all complex systems.In this paper,organization structure,institutional structure,functional structure,operation structure of monetary policy transmission system are carefully investigated and researched by using fine fractal thought,empirical analysis of elastic fractal of monetary policy is conducted by using basic data Chinese monetary policy transmission,and then mechanism,significance and policy implication of fractal in monetary policy transmission system are discussed.Fractal is the specific existing forms of monetary policy transmission system,and fractal characteristics of it are mainly embodied in nonlinear system behavior of the fractality of organization structure,the fractality of institutional structure,the fractality of operation process,the fractality of function and so on.By the fractal theory introduced to research on monetary policy transmission system,a new logic thinking and perspective is provided for research on monetary policy transmission mechanism under financial globalization condition,the efficiency of monetary policy transmission is improved and the blocking effects of it is reduced.

关 键 词：货币政策传导系统 复杂性 分形 货币政策弹性分维 

分 类 号：F822.0[经济管理—财政学]