创新和完善宏观调控的整体逻辑:宏观政策“三策合一”的视角

The Overall Logic of Innovation and Improvement of Macro Regulation:the Perspective of"Synthesization of Three Macro Policies"

近十余年来,为应对国内外复杂经济形势,促进经济平稳发展,中央不断创新和完善宏观调控,实施了“区间调控+定向调控+相机调控”“供给侧结构性改革+需求侧管理”“跨周期调节+逆周期调节”等多项重要宏观调控创新举措。这些创新举措对于促进中国经济平稳运行起到了重要作用,有力支撑了第一个百年奋斗目标的顺利实现。不过,由于缺少整体逻辑,各项宏观调控创新举措往往各行其是,在调控目标、政策力度、调控期限等方面可能存在潜在矛盾,最终有可能削弱宏观调控的整体效率。提高宏观调控效率,需构建一个统一的理论框架,将中国特色宏观调控的各项创新举措统筹起来,进而提炼并明确各项创新举措的整体逻辑。宏观政策“三策合一”新理论框架通过重构政策目标体系、准确设计政策力度和加强政策协调配合,能够有效化解各类创新举措之间的潜在矛盾,从而不断完善中国特色宏观调控体系。

In the past ten years,in order to cope with the complex economic situation at home and abroad and promote stable economic development,the central government has continuously"innovating and improving macro regulation"and implemented"range-based regulation+targeted regulation+well-timed regulation","supply-side structural reform+demand side management","cross-cycle policy adjustment+counter-cycle policy adjustment",and many other important innovative macro regulation measures.These innovative measures have played an important role in promoting the growth of China's economy and strongly supported the realization of the first Centenary Goal.However,due to the lack of overall logic,each innovative measure often go their separate way,and potential contradictions may arise in terms of regulation objectives,policy strength,and regulation terms,which may ultimately weaken the overall efficiency of macro regulation.In order to improve the efficiency of macro regulation,it is necessary to build a unified theoretical framework to coordinate various innovative measures of macro regulation with Chinese characteristics,and then refine and clarify the overall logic of various innovations.The new theoretical framework of"synthesization of three macro policies"can effectively resolve potential contradictions between various innovative measures by reconstructing the policy target system,accurately designing policy strength,and strengthening policy coordination,so as to continuously improve the macroregulation system with Chinese characteristics.