货币流动性与我国资本形成

Our Country's Money Liquidity and Capital Formation

加快储蓄向投资的转化是解决我国内外失衡问题的一个途径,这需要对资本形成机制进行研究,本文基于马克思的货币理论,根据中国现实建立了货币流动性与资本形成的关系,从货币流动性的存量和流量两个方面作了实证研究,表明:货币流动性M_1/M_2上升会降低资本形成率,M_1增速与M_2增速比例扩大会提高投资增长率,因而从政策层面应该优化货币结构,完善资本形成机制。

To accelerate the translation from saving to investment is a way to solve the problem of interior and exterior imbalance,which needs the research to the formation mechanism of investment.In this paper,based on Marxism theory of money,we analyze the relationship of monetary liquidity and investment according to Chinese reality. The empirical analysises from accumulation and increment two aspects are employed to make clear that the increasing of M1/M2 make against the ratio of capital formation to GDP,but the enlarging of increasing rate difference between M1 and M2 can increase that ratio.As a result,we should make policy to optimize the monetary structure so as to facilitate the capital formation.