健全信用制度:我国货币政策有效性的制度保障

Guaranteeing the Effectiveness of Our Monetary Policy by Improving Credit System

在当代不兑现的信用货币制度下,货币政策的有效发挥依赖于一套健全的信用制度,因为中央银行对货币政策中介目标的调控、货币政策的顺畅传导以及货币政策工具的运用都以健全的信用制度为基础。在转轨时期,我国信用制度的缺失严重地制约了货币政策的有效性,只有尽快健全信用制度,才能充分发挥信用制度的宏观功能,为货币政策的有效实施提供制度保障。

In the contemporary inconvertible credit currency system, the effective exploitation of monetary policy depends largely on a set of sound credit institutions which enable the central bank to regulate monetary policy intermediary objective, to secure monetary policy transmission, and to utilize monetary policy instruments. Considering that the credit institution depletion in our country has imposed serious constraint on the effectiveness of monetary policy in the period of economic transformation, we have to improve our current credit system as soon as possible. Only by doing so can we ensure the effective implementation of monetary policy by bringing into full play the macro-functions of credit system.