摘要
中国高货币化之谜一直是国内外主流经济学家关注的问题,然而相关文献表明在这方面的研究并没有获得实质性的进展。通过向量自回归模型与向量误差修正模型,研究M2对消费、投资、政府支出、进出口之间的动态影响与产出效应,相关的结果一致支持货币供给是消费、投资、出口增长的原因,并得出了我国货币供给外生性的结论,这与我国货币供给内生性的传统观点相反。
Domestic and foreign mainstream economists have always been concerning about Chinese high monetization,however,the related research indicated that there has no any breakthrough progress in this field.This article studied dynamic influence and output effect of M2 on consumption,investment,government expend,import and export through VAR and VEC model.The related results consistently supported that currency supply is the growth reason of consumption,investment and export.Opposite tradition internal viewpoint,we has obtained external conclusion in our country＇s currency supply.
出处
《商业研究》
CSSCI
北大核心
2010年第8期54-61,共8页
Commercial Research
关键词
货币供给
经济增长
动态影响
产出效应
currency supply
economic growth
dynamic influence
output effect
