货币空转与银行间市场流动性——基于我国“钱荒”事件研究  

The Monetary Idling and Liquidity in China's Interbank Market:Analysis of the Money Shortage in China

作　　者：张晓玫[1] 弋琳[1] 

机构地区：[1]西南财经大学金融学院

出　　处：《财经科学》2013年第12期20-28,共9页Finance & Economics

摘　　要：货币空转指货币在循环过程中跳过了实体经济而陷入金融机构间"自循环"的现象,其本质是银行对流动性的滥用。而流动性对于金融体系的稳定至关重要,因此管理好银行间市场流动性是保证金融体系平稳运行的必要条件。2013年6月发生的"钱荒"事件再次引发了学界对我国银行间市场流动性的广泛讨论。本文以此为切入点,通过因素模型,结合相关经济数据,分析了我国银行间市场流动性的影响因素,得出货币空转是此次"钱荒"事件的重要原因这一结论,并提出了相关监管建议。The Monetary Idling is a phenomenon that money flows among financial institutions instead of sub- stantial economy, in fact it＇s an abuse of liquidity . Liquidity is essential to financial stability, so well - managed hquidity in China, s interbank market is necessary for the stability of financial system~ The Money Shortage which happened in the bank industry this June had attracted much attention and discussion hack to the hquidity in China, s interbank market. In this paper, we analysis the Money Shortage by a factor model with relevant economic data , then corresponding recommendations are given depending on the conclusion we draw from the model that The Monetary Idling is mainly responsible for the Money Shortage in June.

关 键 词：钱荒 货币空转 市场流动性 

分 类 号：F822[经济管理—财政学]