流动性:概念演进、层次差异及内在联系

Liquidity: Concept Evolution,Hierarchical Difference and Internal Connection

虽然流动性是一种流传广泛的说法,但一直没有各方接受的统一定义。研究发现,流动性概念经历了模糊不清、传统货币、短期流动资产、全部金融资产的演进轨迹。根据研究视角的不同,流动性概念一般可分为资产流动性、市场流动性和宏观流动性三个层次,这些概念本质上均存在相互作用、相辅相成的密切联系。

Liquidity is a popular saying, but there is no commonly recognized definition. Research reveals that the concept of liquidity has evolved from vagueness, traditional money, short - term liquid assets, to the whole financial assets. According to various prospects of research, the concepts of liquidity can be divided into three levels, asset liquidity, market liquidity and macro liquidity. In essence, these concepts are interactive, with close linkage complementing each other.