通货紧缩条件下储蓄──投资转化问题探讨

Probing into the Issue of saving-to-investment in the condition of deflation

在当前我国通货紧缩形势下，经济回升较慢的重要原因是我国储蓄－投资转化机制存在着严重问题，表现为储蓄闲置，投资萎缩，货币政策传导机制及利率作用机制受阻等。应加快投融资体制改革，逐步实行利率市场化，强化商业银行约束和激励机制，推广消费信贷，改善消费者和投资者的预期。

In the present condition of deflation in our country, there is a serious problem in the saving-to-investment mechanism which blocks the economy recovery. It expresses such as saving surplus, investment decline, money policy mechanism and interest rate mechanism can't operate correctly. We must expedite the investment and finance system reform, make the interest rate go towards the market interest rate gradually, strengthen the controlling and encouraging mechanism of commercial bank, spread consumption credit and improve consumer's and investor's expectation.