外汇占款对我国货币供给的影响机制研究——基于2000-2012年央行资产负债表结构变动的分析

Research of Impact Mechanism of Foreign Exchange on China's Money Supply:Analysis of Balance Sheet Structure Change of Central Bank from 2000 to 2012

本文从中央银行资产负债表的结构分析出发,详细研究了在三种不同外汇管理体制下,外汇储备的变动对基础货币、货币乘数和货币供给的影响机制。通过对2000-2012年间中国人民银行资产负债表结构变动分析发现:近十余年来,外汇占款已成为影响我国中央银行货币发行最重要因素,并成为推动持续通货膨胀的重要因素。

This paper analyzed start from the central bank balance sheet structure, detailed researched the impact mechanism of changes in foreign reserves of central bank to basic money and money multiplier. Through the researehed of the balance sheet structure between 2000 to 2012 of china＇s central bank, We found： foreign exchange has became the most important factor in the impact of central bank money supply, and lead to sustained inflation in china in recent years.