摘要
资本市场的快速发展对货币需求、货币流通速度等带来较大影响,同时,货币供应量作为我国货币政策中介目标在实践操作中的固有缺陷也日益暴露出来。因此,货币供应量已经越来越不适宜作为货币政策中介目标。鉴于通货膨胀目标制能够很好地实现规则性与灵活性的高度统一,我国资本市场发展中的货币政策中介目标的抉择可考虑:短期内进一步完善货币供应量的统计口径等基础性工作,中长期内建立一个通货膨胀目标下的货币政策框架,在更长时期内向利率中介目标过渡。
The rapid development of capital market has brought about bigger impact on money demand, money circulation speed, etc. Meanwhile, the built - in defects for money supply as a medium target in practical operation have been uncovered gradually. Therefore, money supply has been not increasing desirable as a medium target for monetary policy. Considering that inflation targeting can make a high unification of flexibility and regularity, it＇ s a good choice for a medium target for monetary policy in the development of China＇ s capital market： such underlying work as further perfecting statistic data for money supply in the short run, establishing a monetary policy framework under inflation targeting in the long and medium run, moving to the interest rate medium target in a longer run.
出处
《河南金融管理干部学院学报》
CSSCI
2008年第4期32-37,共6页
Journal of Henan College of Financial Management Cadres
