摘要
货币空转指货币在循环过程中跳过了实体经济而陷入金融机构间"自循环"的现象,其本质是银行对流动性的滥用。而流动性对于金融体系的稳定至关重要,因此管理好银行间市场流动性是保证金融体系平稳运行的必要条件。2013年6月发生的"钱荒"事件再次引发了学界对我国银行间市场流动性的广泛讨论。本文以此为切入点,通过因素模型,结合相关经济数据,分析了我国银行间市场流动性的影响因素,得出货币空转是此次"钱荒"事件的重要原因这一结论,并提出了相关监管建议。
The Monetary Idling is a phenomenon that money flows among financial institutions instead of sub- stantial economy, in fact it＇s an abuse of liquidity . Liquidity is essential to financial stability, so well - managed hquidity in China, s interbank market is necessary for the stability of financial system~ The Money Shortage which happened in the bank industry this June had attracted much attention and discussion hack to the hquidity in China, s interbank market. In this paper, we analysis the Money Shortage by a factor model with relevant economic data , then corresponding recommendations are given depending on the conclusion we draw from the model that The Monetary Idling is mainly responsible for the Money Shortage in June.
出处
《财经科学》
CSSCI
北大核心
2013年第12期20-28,共9页
Finance & Economics
关键词
钱荒
货币空转
市场流动性
Money Shortage
Monetary Idling
Liquidity
