货币创造理论与商业银行运行——综述、质疑及反思

The Theory of Money Creation and the Operation of Commercial Banks:Review,Question and Reflection

货币创造和银行运行是信用货币制度下的核心内容,伴随着信用经济的不断发展,与货币创造相关的讨论也在不断增多。在近些年的研究中,许多学者从不同方面对传统货币创造理论提出了质疑。事实上,商业银行货币创造的实质是债权的转移,而非依赖于传统的所谓吸收存款、发放贷款的负债经营模式。鉴于此,本文对传统货币创造理论进行了梳理并提出了一些疑问,同时以已有文献为基础构建了一个货币创造的运行框架,最后对一些问题如钱荒、存贷比等进行了分析。本文认为,理论的适用本身存在时代局限性。通过对实际情况的考察进而对理论进行不断修正在使理论得以发展的同时,也有助于正确地理解和分析与之相关的经济问题及经济现象。

The creation of money and the operation of banks are the core contents of the credit currency system. In fact, the essence of money creation of commercial banks is the transfer of creditor＇s fights, instead of relying on traditional deposits and loans. In view of this, this paper sorts out and puts forward some questions about the traditional money creation theory, and constructs a monetary creation based on the existing literature. Finally, some problems such as shortage of money, the loan de- posit ratio is analyzed. This article believes that the theory of the application itself has the limitations of the times. Through the investigation of the actual situation and the theory of continuous correction in the development of the theory, but also contribute to the correct understanding and analysis of the relevant economic problems and economic phenomena.