我国货币供应量影响因素的实证分析

An Empirical Analysis of Factors which I chaffect China's Money Supply

由于货币供应量的波动对我国目前稳定物价有着重要的影响,所以如何通过调控货币供应量来熨平物价上涨,实现经济稳定健康的发展是一个非常有实际意义的课题。理论分析表明:影响货币供应量的因素有信贷规模、财政支出、国际储备以及准备金率。实证分析表明:政府收支和准备金率这两个因素影响不显著。因此,我国若想通过货币供应量来影响物价,应当采取以下措施:合理控制信贷;合理控制国际储备规模;为调整存款准备金政策创造公平竞争环境;合理有效调整存贷款利差和贷款利率水平。

Sinee the fluetuations of China ＇ s currency has an important impact on the priee stability, how to control money supply to iron out prices and achieve economic stabilitv and heahhv development in a very real sense an issue now. Theoretical analysis shows that the credit scale, expenditure, international reserves and the re＋serve ratio are tile main factors which affect money supply. Empirical analysis shows the impaction of government revenue attd expenditure and the reserve ratin is not significant. Therefore. if our eountry want to influem＇e tile l,riee through nloney supply, Such suggest should be taken： Reasonable control of eredit and the size of intrnational reserves： Create a fair competilive environment for the adjustment of Reserve pnliey：adjusl deposit and loan spreads and loan interest rates reasonablly and etleetivelv.