中国利率政策调整的效应分析

发布时间：2018-06-12 14:39

本文选题：利率政策 + 利率　；参考：《延安大学》2012年硕士论文

【摘要】：利率是一国中央银行调节宏观经济的重要工具，也是我国货币政策中非常关键的杠杆工具。2006年至2010年中国人民银行十五次调整存贷款基准利率，此阶段利率调整的特点是：次数多、幅度小。利率频繁的调整不仅体现了央行宏观调控水平的提高，而且显示出利率在经济中的地位日渐增强。但是利率对经济各主体产生的效应并没有理论上的那样明显，利率仍不是我国中央银行货币政策最主要的工具。理论与实践巨大差异的根本原因在于我国还未实现利率市场化，利率传导机制存在阻滞因素。利率政策从出台到最终产生效果需经历一段时期，那么近五年央行在面对国内通货膨胀及应对美国金融危机过程中小幅频繁的微调有没有达到调控的目的呢？本文正是基于这样的背景对我国2006年至2010年利率政策调整的效应进行分析，此研究具有重要的理论和现实价值。文中以存贷款利率水平调整为研究对象，笔者在研究中运用了比较分析、图形分析及文献研究等方法对我国建国至2010年利率调整的效应进行分析。论文从我国经济运行的特点出发分三个阶段对利率政策调整的背景、原因，及其效应进行了研究与评价。并重点对2006年至2010年间我国存贷款利率频繁调整的原因进行剖析，得出：通货膨胀是利率政策调整的最主要因素；美国金融危机是利率政策调整的偶发性因素；人民币升值是利率政策调整的联动因素；国内经济形势是利率政策调整的决定因素。随后分析了利率调整对商业银行信贷行为、居民储蓄、房地产市场及股票市场的影响，并对其效应进行了客观评价。最后提出增强我国利率政策有效性的四点建议。通过分析笔者认为，为了进一步加强我国利率政策调整的效应，应该不断深化利率市场化改革提高我国货币政策的有效性，转变政府职能，尊重市场自身规律，，建立长效的利率政策机制，依靠市场自主调节最终实现均衡的目的。
[Abstract]:Interest rate is an important tool for the central bank to adjust the macro-economy. It is also the key lever tool in China's monetary policy. The people's Bank of China adjusted the benchmark interest rate of deposit and loan fifteen times from.2006 to 2010. This stage of interest rate adjustment is characterized by many times and small margin. The adjustment of interest rate not only embodies the macro-control of the central bank, but also the macro-control of the central bank. However, the interest rate has not been so obvious in theory, and the interest rate is still not the most important tool for the monetary policy of the Central Bank of China. The fundamental reason for the huge difference between theory and practice is that our country has not yet realized the interest rate marketization. There is a block factor in the rate transmission mechanism. The interest rate policy will take a period of time from the introduction to the final result. Then, in the last five years, have the central bank in the face of domestic inflation and the small frequent adjustments in the process of dealing with the US financial crisis have reached the goal of regulation? This article is based on such a background to our country from 2006 to 2010. It is of great theoretical and practical value to analyze the effect of the policy adjustment.
In this paper, the interest rate adjustment of deposit and loan is studied. In the study, the author uses comparative analysis, graphic analysis and literature research to analyze the effect of interest rate adjustment in China from the founding of the people's Republic to 2010. From the characteristics of our country's economic operation, the paper divides the adjustment of rate policy in three stages, the reasons, and its effect. The reasons for the frequent adjustment of the interest rate of deposit and loan in China from 2006 to 2010 were analyzed, and the results were as follows: inflation is the most important factor for the adjustment of interest rate policy; the American financial crisis is an occasional factor in the adjustment of interest rate policy; the appreciation of the RMB is the linkage factor of the adjustment of the rate policy; The situation is the determinant of the adjustment of interest rate policy. Then the effect of interest rate adjustment on commercial bank credit behavior, resident savings, real estate market and stock market is analyzed, and the effect of interest rate adjustment is evaluated objectively. At last, four suggestions are put forward to enhance the effectiveness of China's interest rate policy.
Through the analysis, in order to further strengthen the effect of the adjustment of interest rate policy in China, we should deepen the reform of interest rate marketization to improve the effectiveness of our monetary policy, change government functions, respect the law of the market, establish a long-term interest rate policy mechanism, and rely on the autonomous regulation of the market to achieve the goal of equilibrium.
【学位授予单位】：延安大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.0

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