摘要
近几年来,我国的实际新增货币供应总量总是远远突破中央银行制定的信贷规模上限,影子银行的信用创造可谓"功不可没"。同时,影子银行体系的存在也给货币政策的有效性提出了巨大挑战。首先从理论的视角对比分析中西方影子银行体系的两种不同的信用创造机制,然后运用协整分析法以信托贷款量为例分析了其对我国不同货币层次货币供应量的影响,最后提出了相应的货币政策建议。
Recent years in China, the actual new money supply kept staying well above the cemng ofthe credit scale which made by the central bank. The credit creation of shadow banks made a great contribution to this. At same time, the existence of shadow banks system also gave a huge challenge to the effectiveness of monetary policy. The author first contrasted analyzed the different credit creation mech anism of Chinese and western shadow banks system from the angle of theory, and then analyzed the in fluence to the money supply of different monetary level which taking the trust loans as an example by cointegration analysis. At last some monetary policy suggestions were given.
出处
《金融理论与实践》
CSSCI
北大核心
2013年第10期51-55,共5页
Financial Theory and Practice
基金
上海市教委重点学科建设项目(J50504)
上海市社科项目(2009BJB031)
