经济增长中的货币化进程:一般分析框架与中国经验

The Process of Monetization in Economic Growth:General Analytical Framework and the Chinese Experience

一国经济增长必然伴随着货币化推进。只有货币进入生产领域、流通领域,才能使商品、劳务和资源显现出自身的价值,并以货币为媒介来进行交换和配置。金融推动经济发展的过程,其实质是经济货币化的过程。货币化程度高,意味着货币和金融体系对于经济增长的作用范围大,对于经济发展的推动力增强。一国货币化进程的推进,取决于经济发展的程度和制度变迁或结构变革。改革开放以来,中国经济货币化程度迅速提升,经历了商品和劳务货币化,资源货币化,国际输入性货币化进程,这一方面推动了经济增长,另一方面又出现了超额货币。在经济一体化和金融全球化背景下,中国经济增长中货币发行数量与结构应与体制变迁、经济发展相适应,在一个合理的区间,才有利于经济稳定和持续发展。

Economic growth must be accompanied by a monetary advance. Only money enter into the production, circulation, then the goods, services and resources can show their value in money as a medium for exchange, and configuration. The essence of the process of finance promoting economic development is the monetization of the economy. High degree of monetization means that monetary and financial system plays a strong role and driving force to economic growth. The monetization of the economy depends on the promoting of the economic development level and the changes of economic system and structure. The process of the monetization in the economy in China is driven by institutional change. Since reform and opening, China＇s rapid increase of monetization of the economy has experienced the monetization of commodities, services, and monetization of resources, the international monetary input process. This, on one hand, has fostered the economic growth, on the other hand, has led the money surplus in China＇ s context. In the context of economic integration and financial globalization, China＇s currency supply in economic growth should adapt to the economic system and structure changing and also keep it in a reasonable range, which can help the economic stability and sustainable development.