后疫情时代日本政策性金融工具实施策略及启示

The Implementation Strategy and Enlightenment of Japan’s Policy-based Financial Instrument in the Post-epidemic Era

政策性金融作为政府使用金融手段执行财政政策和调节经济周期的机制设计,在应对经济下行和刺激市场方面被普遍认为具有明显效果。新冠疫情以来,日本政府为实现经济复苏制定了大规模的财政刺激政策,作为政策性金融工具主要实施渠道的财政投融资计划也迎来了前所未有的扩张。本文通过研究新冠疫情以来日本财政投融资计划的新动向和施政策略,分析日本政策性金融工具的实施效果,为我国政策性金融工具的发展提供启示和借鉴。

The policy-based finance,as the mechanism design of the government by using financial means to execute financial policies and adjust economic periods,is widely believed to have evident effect in answering economic downturn and stimulating the market.Since the COVID-19 epidemic,the Japanese Government has formulated large-scale financial stimulation policies for achieving economic recovery,and the Fiscal Investment and Loan Program as the main implementation channel of the policy-based financial instrument also has ushered in an unprecedented expansion.This article will analyze the implementation effect of Japan’s policy-based financial instrument through studying the new tendency and implementation strategy of Japan’s Fiscal Investment and Loan Program since COVID-19 epidemic,to provide enlightenment and reference for China’s policy financial instruments.