西方内生货币供给理论及其对我国货币政策的解释意义  

Theory of Money Supply Endogeneity in Western World and Its Implications for Chinese Monetary Policy

作　　者：郭殿生[1,2] 吴丽杰[2] 

机构地区：[1]吉林财经大学马克思主义经济学研究中心,吉林长春130117 [2]吉林财经大学经济学院,吉林长春130117

出　　处：《税务与经济》2015年第1期8-12,共5页Taxation and Economy

摘　　要：后凯恩斯主义货币内生理论认为,现代市场经济运行中的货币供给经济体系内的多种因素决定的,是由一国经济活动内生创生出来的。银行贷款创造存款,投资决定储蓄。近年我国存在货币过度供给情况,导致资本市场几近失控,通货膨胀蔓延,也增加了本币贬值的风险,影响对外发展战略的实施效果。货币过度供给源于商业银行过度发放贷款、金融机构外币占款增多、商业银行购买企业或政府债券、信托贷款等。人民币贷款连年增加既有供给的因素,也有需求的原因。货币过度供给给宏观经济调控带来较大压力。According to Keynesian money supply endogeneity theory, money supply in modern market economy is determined by a variety of factors of economic system. It comes out when a nation carries out economic activities. Bank loans can produce more deposit and investment contributes to savings. In recent years, due to the excessive money supply, the capital market is almost out of control and inflation spreads severely. The currency runs a risk of devaluation, which influences the implementation of China＇s foreign strategy. Several factors can account for the excessive money supply, such as the excessive loans of commercial banks, the increase of foreign currency in financial institutions, the purchase of bonds and trust loans from enterprises or government, etc.. The Increase of RMB loans year after year is because of supply and demand of money. The excessive supply of money brings great pressure on macroeconomic regulation and control.

关 键 词：内生货币供给理论 货币政策 通货膨胀 货币过度供给 凯恩斯主义 宏观经济调控 

分 类 号：F830.9[经济管理—金融学]