通货膨胀目标法对构建发展中国家货币政策框架的启示  

Inflation Targeting:A New Monetary Police Framework for Developing Countries

作　　者：彭敬[1] 

机构地区：[1]西安交通大学经济与金融学院,西安710061

出　　处：《云南财贸学院学报》2001年第6期32-35,共4页Journal of Yunnan Finance and Trade Institute

摘　　要：尽管还未经过一个完整的商业周期的考察 ,通货膨胀目标法在几个发达国家已经证明是极为诱人的 ,该框架对于提高中央银行货币政策的可信性与责任感有极大作用。与该框架相比 ,传统货币政策中介目标在货币需求日趋不稳的情况下变得效率低下 ,在该框架下 ,通胀目标更易实现 ,且可长期维持。本文在提出该框架的理论假设和实践中应具备的前提条件的基础上 ,分析了发达国家采用该体系的共同特点并论述了发展中国家采用该体系面临的问题和应具备的条件 ,最后得出结论尽管发展中国家有些条件还不具备 。Inflation targeting,which can enhance the credibility and accountability of the central bank's monetary policy,has proved effective in some industrial countries though it has not experienced a complete business cycle.Compared with the framework,traditional monetary policy intermediate goals are low efficient for the monetary demanding is increasingly unstable.Under such a framework,inflation targeting is more available and more sustainable.The paper presents the premises and prerequisites of inflation targeting,and analyzes the common features of the advanced economies which have adopted the framework,and demonstrates the problems facing the developing countries and preconditions to adopt it.The conclusion is that inflation targeting is an effective approach to reduce the inflation rate.

关 键 词：通货膨胀目标法 通货膨胀率 财政控制 金融抑制 发展中国家 货币政策 

分 类 号：F821.0[经济管理—财政学] F821.5