摘要
在不同的经济周期中,国际收支状况影响着货币供给,使得货币供给的“内生性”增强。产生这一影响的内在机制是国际收支对货币需求和汇率体制发生作用,进而导致基础货币投放结构变化。今后要保持货币政策的独立性,必须对汇率体制进行改革以及进行对外贸易和利用外资的战略结构调整。
The balance of payments has played an important role in China's economic developments since 1994. In the three different business cycles, the balance of payments affected money supply deeply, and enriched the endogenous of money supply. The internal mechanisms are the money demand, which is decided by international economic activities, and the foreign exchange systems that lead to the changes of the base of money supply. In the future, China has to reform her foreign exchange systems and adjust her foreign trade and capital strategies.
出处
《广东金融学院学报》
2004年第5期33-38,共6页
Journal of Guangdong University of Finance