经济虚拟化降低了货币流通速度吗?  

Does Economic Fictionalization Reduce Currency Circulation Speed?

作　　者：刘晓欣[1] 梁志杰[1] 

机构地区：[1]南开大学经济学院

出　　处：《经济与管理研究》2018年第4期15-25,共11页Research on Economics and Management

基　　金：国家社会科学基金重大项目"我国发展实体经济的战略;政策和制度研究--基于实体经济和虚拟经济数量关系的视角"(13&ZD018);教育部2011项目南开大学协同创新项目"中国特色社会主义经济"

摘　　要：在宽松货币政策对经济增长的促进作用减弱的背景下,本文基于货币在实体经济与虚拟经济中创造GDP机制的不同,通过对剑桥方程和费雪方程进行改进,构建了经济虚拟化与货币流通速度两者关系的理论模型,提出经济虚拟化降低了货币流通速度的理论假设。同时,利用1996—2015年宏观季度数据对该理论假设进行验证,结果表明经济虚拟化对货币流通速度具有显著的负向影响。货币在虚拟经济内部部门之间创造GDP的机制存在差异性,导致金融业中的非银行部门相比于银行部门对货币流通速度的负向影响不显著。In the context of the weakening effect of loose monetary policy on economic growth,this paper constructs the theoretical model based on the relationship between economic fictionalization and currency circulation speed,and puts forward the hypothesis that the fictitious economy reduces Currency circulation speed. The construction of the theoretical model is based on the improvement of the Cambridge equation and Fisher's equation and different mechanisms of currency to create GDP in real economy and fictitious economy. At the same time,using the macroscopic quarterly data from 1996 to 2015 to verify the theoretical assumptions,the result shows that economic fictionalization has significant negative impact on Currency circulation speed. However,the negative effect of the non-banking sector on reducing currency circulation speed is not significant compared to the banking sector,because of different mechanisms of unit currency to create GDP within the fictitious economy sector.

关 键 词：经济虚拟化 货币流通速度 实体经济 虚拟经济 

分 类 号：F822.2[经济管理—财政学]