财政赤字货币化问题探讨

The Discussion of Fiscal Deficit Monetization

目前我国在疫情防控和经济恢复方面取得了阶段性成效,但为应对疫情冲击和支持"六保"任务,财政收支依然面临巨大困境,于是有专家学者提出推行"财政赤字货币化",引发了社会各界的广泛关注和讨论。本文从财政赤字货币化的理论基础和实践背景出发,结合国际经济环境和我国发展现实,探讨现阶段在我国推出财政赤字货币化的可行性,认为我国目前财政政策、货币政策各自的运作空间都比较大,实施财政赤字货币化尚未到必要与可行的时候。

At present,China has phased achievement in epidemic prevention and control and economic recovery.However,in order to cope with the impact of the epidemic and support the"six guarantees"task,fiscal revenue and expenditure are still facing great difficulties.Therefore,some experts and scholars proposed to implement"monetization of fiscal deficit",which has aroused widespread concern and discussion from all walks of life.Starting from the theoretical basis and practical background of fiscal deficit monetization,combined with the international economic environment and China’s realityin development,this paper discusses the feasibility of introducing fiscal deficit monetization in China at the present stage.It is considered that the operation space of fiscal policy and monetary policy in China is relatively large,and it is not necessary and feasible to implement fiscal deficit monetization.