电子货币与商业银行存款货币创造机制研究
发布时间：2018-12-21 07:24
【摘要】：随着信息技术和互联网的飞速发展,电子货币也随之快速发展并开始对经济、社会与生活产生越来越深远的影响。由于电子货币具有支付便利、高速流通的特性及对现金及活期存款的替代效应,其对现有的货币体系造成了巨大冲击,对商业银行存款货币创造机制的各个环节、各个方面都有很大影响。掌握电子货币的规律及其与商业银行信用创造的相关关系,对于货币金融领域的学术研究具有重要的理论意义,对央行如何制定和执行货币政策更是有着重要的现实意义。 首先,本文在梳理前人关于电子货币与商业银行存款创造机制的文献的基础上,界定电子货币的定义和分类,回顾了电子货币的发展历程。其次,本文将电子货币引入传统商业银行存款货币创造模型,讨论电子货币对中央银行、商业银行及公众等货币主体行为的影响,并将电子货币替代率em作为自变量纳入存款创造过程,推导出电子货币条件下全新的货币乘数模型。然后,建立计量经济模型,对于电子货币与货币乘数、商业银行存款货币创造能力、货币层次等因素的相关性、影响方向和影响程度的大小进行实证分析。最后,根据研究结论,有针对性地提出中央银行规范发展电子货币、加强对电子货币发行主体监管、确定货币政策中介目标及增强货币政策有效性方面的政策建议。 本文研究结果表明,电子货币的发展扩大了货币乘数效应,且其对广义货币乘数m2的放大效应大于狭义货币乘数m1。电子货币的发展增强了商业银行的存款货币创造能力。电子货币具有替代现金与活期存款,和推动货币由较低层次向较高层次转化两种效应,目前在我国电子货币的转化效应超过替代效应,且这种转化效应主要表现为使现金转化为活期存款。
[Abstract]:With the rapid development of information technology and Internet, electronic money also develops rapidly and has more and more profound influence on economy, society and life. Because electronic money has the characteristics of convenient payment, high speed circulation and substitution effect on cash and demand deposit, it has a great impact on the existing monetary system, and it has a great impact on every link of deposit money creation mechanism of commercial bank. Every aspect has a great influence. Mastering the law of electronic money and its correlation with the credit creation of commercial banks is of great theoretical significance to the academic research in the field of monetary and financial affairs, and is of great practical significance to how the central bank formulates and implements monetary policy. First of all, on the basis of combing the previous literatures on electronic money and deposit creation mechanism of commercial banks, this paper defines the definition and classification of electronic money, and reviews the development of electronic money. Secondly, this paper introduces the electronic money into the traditional commercial bank deposit money creation model, and discusses the influence of electronic money on the behavior of the central bank, commercial bank and the public. The electronic money substitution rate (em) is taken as an independent variable into the deposit creation process, and a new money multiplier model under the condition of electronic money is derived. Then, an econometric model is established to analyze the correlation between electronic money and money multiplier, the ability of deposit money creation in commercial banks, the monetary level, the influence direction and the degree of influence. Finally, according to the conclusion of the study, the central bank puts forward some policy suggestions on standardizing the development of electronic money, strengthening the supervision of the subject of electronic money issuance, determining the intermediate target of monetary policy and enhancing the effectiveness of monetary policy. The results show that the development of electronic money expands the monetary multiplier effect, and its amplification effect on the broad money multiplier m ~ 2 is greater than that on the narrow money multiplier m _ 1. The development of e-money has enhanced the ability of commercial banks to create deposit money. Electronic currency has two effects: replacing cash and demand deposit, and promoting currency to transform from lower level to higher level. At present, the transformation effect of electronic money in China exceeds the substitution effect. And the effect of this transformation is mainly to make cash into demand deposits.
【学位授予单位】：复旦大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F822;F832.2
本文编号：2388565
[Abstract]:With the rapid development of information technology and Internet, electronic money also develops rapidly and has more and more profound influence on economy, society and life. Because electronic money has the characteristics of convenient payment, high speed circulation and substitution effect on cash and demand deposit, it has a great impact on the existing monetary system, and it has a great impact on every link of deposit money creation mechanism of commercial bank. Every aspect has a great influence. Mastering the law of electronic money and its correlation with the credit creation of commercial banks is of great theoretical significance to the academic research in the field of monetary and financial affairs, and is of great practical significance to how the central bank formulates and implements monetary policy. First of all, on the basis of combing the previous literatures on electronic money and deposit creation mechanism of commercial banks, this paper defines the definition and classification of electronic money, and reviews the development of electronic money. Secondly, this paper introduces the electronic money into the traditional commercial bank deposit money creation model, and discusses the influence of electronic money on the behavior of the central bank, commercial bank and the public. The electronic money substitution rate (em) is taken as an independent variable into the deposit creation process, and a new money multiplier model under the condition of electronic money is derived. Then, an econometric model is established to analyze the correlation between electronic money and money multiplier, the ability of deposit money creation in commercial banks, the monetary level, the influence direction and the degree of influence. Finally, according to the conclusion of the study, the central bank puts forward some policy suggestions on standardizing the development of electronic money, strengthening the supervision of the subject of electronic money issuance, determining the intermediate target of monetary policy and enhancing the effectiveness of monetary policy. The results show that the development of electronic money expands the monetary multiplier effect, and its amplification effect on the broad money multiplier m ~ 2 is greater than that on the narrow money multiplier m _ 1. The development of e-money has enhanced the ability of commercial banks to create deposit money. Electronic currency has two effects: replacing cash and demand deposit, and promoting currency to transform from lower level to higher level. At present, the transformation effect of electronic money in China exceeds the substitution effect. And the effect of this transformation is mainly to make cash into demand deposits.
【学位授予单位】：复旦大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F822;F832.2
【参考文献】
相关期刊论文 前2条
1 靳超,冷燕华;电子化货币、电子货币与货币供给[J];上海金融;2004年09期
2 周光友;;电子货币的货币乘数效应:基于中国的实证分析[J];统计研究;2007年03期
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