摘要
中国经济当前处于流动性过剩状态,这一问题若不能很好解决,容易引发经济和金融危机。解决流动性过剩既需要实行提高法定存款准备金比率、加大公开市场回笼货币力度和发行定向票据等相机抉择的短期政策,更重要的是采取金融结构优化的治本之策。金融结构优化的具体措施包括多层次资本市场的完善,大力发展机构投资者,发行债券收购国家外汇储备的增量,推进银行业的综合化经营以及进行结构化产品创新和房地产投资信托产品创新等。
Current Chinese economy has excess liquidity, which will probably induce the financial crises and economic crises. This paper analyzes the causes and argues that the discretional policy is vital, such as higher reserve rate, withdrawal of more money from circulation in the open market and issuing the special bills to commercial banks. It is more important to optimize the financial structure, which includes perfecting the multi-level capital markets, developing the institutional investor, issuing bonds to purchase the state foreign reserve flow,promoting the comprehensive operation of commercial banking,initiating the financial structure products and REIT, etc.
出处
《中南财经政法大学学报》
CSSCI
北大核心
2007年第3期86-89,共4页
Journal of Zhongnan University of Economics and Law
基金
中国人民银行武汉分行课题"货币政策传导:一个纳入非正规金融变量的结构分析"(WB2006B09)
关键词
金融结构
流动性过剩
多层次资本市场
Financial Structure
Excess Liquidity
Multi-level Capital Market
