应对流动性过剩的财政货币政策

On the Fiscal and Monetary Policy for Handling of Liquidity Overplus

由于国际收支的巨额顺差和人民币升值预期,国际流动性大量进入我国,致使我国出现了严重的流动性过剩。传统的货币政策治标不治本,作用不甚显著。根治流动性过剩的关键在于从源头防范,财政政策与货币政策有效配合。

The current liquidity overplus becomes a serious issue in China into which the huge international liquidity flows continuously due to the large balance of payments surplus and the anticipation of RMB appreciation. The action from the traditional monetary policy is not notable because it cannot become a permanent cure but act as a temporary solution. To guard against the liquidity overplus in terms of its source, it is critical to combine effectively fiscal policy and monetary policy.