摘要
本文通过对2000～2011年中国金融机构票据业务与货币信贷政策相互关系的考察与分析,发现:(1)票据承兑业务发展动因在于宏观经济增长,而受货币信贷政策的影响较小;(2)票据贴现业务受货币政策调控的影响显著,当货币政策分别为稳健、从紧和适度时,票据贴现业务占贷款的比例分别为稳步增大、下降和显著上升;(3)宏观金融调控政策推动了票据理财业务的发展及票据贴现业务与货币市场的同步运行。为了有利于票据业务的发展,发挥票据业务对于经济增长和中小企业的积极作用,票据管理制度应该兼顾票据融资的特性而有所创新。
Based on the analysis of the relationship between the bill business of Chinese financial institutions and the monetary & credit policies,this paper finds that:(1)the motivation to develop bill business is the macroeconomic growth and the bill business is less impacted by monetary and credit policies;(2)bill-discounting business is significantly impacted by the regulation and control of monetary policy:when the monetary policy is sound,tight or moderate,the ratio of bill-discounting business and loan steadily increases,decreases or significantly increases;(3)macrofinancial regulation policy promotes the development of bill-wealth-management business and the synchronous operation of bill-discounting business and currency markets.For the development of bill business and in order to play the role of bill business to facilitate economic growth and small and medium-sized enterprises,the inovation of bill management system needs taking account of the characteristics of bill financing.
出处
《金融论坛》
CSSCI
北大核心
2012年第10期37-43,共7页
Finance Forum
关键词
金融调控
票据融资
票据理财
货币信贷
financial regulation
bill financing
bill-wealth-management
currency and credit
