七十年代以后日本的通货调节以及对经济发展的影响

Japanese Currency Regulation After the 1970's and Its Role in Economic Growth

七十年代以后,日本经济从高速增长转向低速发展.金融政策运营的最终目标从以促进经济高速发展为重点,转向稳定物价、实现经济的安定增长.日本银行金融政策的中间目标也由原来的主要是城市银行的贷出增加额变为货币供应量指标.进而,将货币供应量的管理作为整个金融政策运营的中心,这对促进日本经济的稳定增长产生了积极的作用和影响.

Japanese economy started, after the 1970's, its transition from high-rated growth to low-rated development. A corresponding change took place in her financial policy. Its ultimate target, which had been promotion to speedy economic growth, began to focus on the stabilization of prices in order that steady growth might continue, while the growth rate of city bank loans was replaced by the rate of money supply as the chief intermediate target. The Japanese went further to turn the regulation of money supply into the pivot for the operation of the coun- try's financial policy as a whole. Such measures made positive contributions to the stable growth of the economy.