摘要
20世纪90年代以来,日本经济患上了"日本病",即传统的财政货币政策解决现实问题的能力不足。在此情况下,量化宽松货币政策作为一种非传统的政策手段开始占据主导地位。该政策引入基础货币量控制目标,进一步扩大资产购买量,显著降低了利率,缓解了通货紧缩,改善了出口企业状况,暂时缓解了经济问题。但是,如果不进行制度改革和产业重构,彻底解决困扰日本经济增长的结构性问题和制度性问题,即使继续实行更为激进的货币政策,也不是治本之策,不能从根源上解决日本长期存在的问题。
Since the 1990s, Japanese economy has been suffering from "Japanese disease", which is traditional fiscal and monetary policies are insufficient to solve practical problems. In this case, quantitative easing monetary policy as a non-traditional policy means began to occupy the dominant position. This policy introduces the basic monetary control target, further expands the asset purchase volume, reduces the interest rate significantly, stimulates the economic growth, alleviates the deflation, improves the export enterprise condition, and temporarily alleviates the economic problem. However, it is hard to solve the long-standing economic problems even if Japan continue to implement a more radical monetary policy, unless Japan make institutional reform and economic restructuring to solve the structural and institutional problems completely.
出处
《东北亚经济研究》
2018年第4期112-120,共9页
Northeast Asia Economic Research
关键词
量化宽松
日本经济
长期衰退
货币政策
通货紧缩
Quantitative easing
Japanese economy
long-term recession
monetary policy
deflation
