电子货币具有创造货币的能力吗?

Is Electronic Currency Capable of Creating Money?

如果电子货币具有创造货币的能力,那么经济体系中的货币总量和经济主体持有的金融资产都将有所增加。但事实上,电子货币既不在中央银行的"货币统计概览"中,也不是银行资产负债表上金融资产的组成部分,公众的金融资产也没有因为使用电子货币交易而有所增加。同时,电子货币交易并不会影响中央银行调控经济体系中的货币供给量,也不会降低货币政策的有效性。之所以认为电子货币具有创造货币的能力,是因为对电子货币的本质和职能的认识存在偏差。实际上电子货币并不是脱离货币的外生,而是依附于货币的存在,因此,电子货币并不具有创造货币的能力。只是电子货币交易掩盖了经济活动中的许多风险,由此增加了金融监管的难度。

If electronic currency has the ability to create money,the total currency amount in the economic system and financial assets held by economic entities will increase. In fact,electronic currency is neither in the ＂monetary statistics overview＂of the central bank nor is component of the financial assets on the bank＇s balance sheet. The public financial assets have not increased because of the use of electronic currency trading. At the same time, electronic currency trading will not affect the money supply that central bank regulated in the economic system, nor will it reduce the effectiveness of monetary policy. The reason why electronic currency has the ability to create money is that there is a deviation in the understanding of the essence and functions of electronic currency. Electronic currency does not have the ability to create money, and the key is to understand that electronic money is not exogenous from money, but depends on the existence of money. The transaction of electronic currency could cover many risks in economic activity,therefore financial supervision is becoming more difficult.