我国外汇储备增长对货币政策的影响研究

发布时间：2019-04-09 17:19

【摘要】：近几年来,我国外汇储备规模快速攀升。2006年我国外汇储备规模达到10663.44亿美元,首次超过日本,位居世界第一,之后居高不下。规模巨大的外汇储备一方面保障了我国对外支付的能力,另一方面给国内经济带来的负面影响也日渐突出。规模巨大的外汇储备会导致我国货币政策的实施效果大为减弱,同时也影响到我国经济的可持续发展。因此,在这种背景下研究我国外汇储备对货币政策的影响,不仅具有深远的理论意义,同时具有重要的现实意义。本文分为五部分。第一章为绪论部分,主要介绍了研究的背景、相关文献的回顾、创新与不足。第二章阐述了我国外汇储备的发展概况及现状,主要分析了外汇储备发展的原因,并提出了外汇储备增长对货币政策影响的问题。第三章为理论分析部分,理论研究表明,外汇储备增长过快导致货币政策工具作用受限,加大货币中介目标的独立性,并导致货币政策最终目标的偏离。因此,外汇储备的增长导致货币政策的实施效果减弱。第四章为实证分析部分,实证分析表明,外汇储备对货币供应量的冲击较显著,外汇储备一方面促进了国内生产总值的增长,另一方面带来的通货膨胀效果明显。第五章为政策建议部分,本文建议对外汇储备进行有效管理、深化汇率机制改革、进一步完善货币政策等,以此减少外汇储备的增长速度,进一步增强货币政策的实施效果,保障我国经济的正常运行。
[Abstract]:In recent years, the size of China's foreign exchange reserves has risen rapidly. In 2006, the size of China's foreign exchange reserves reached 1.066344 trillion US dollars, overtaking Japan for the first time, ranking first in the world, and then remaining high. On the one hand, the large-scale foreign exchange reserves guarantee our country's ability to pay abroad, on the other hand, the negative effects on domestic economy are becoming more and more prominent. Large-scale foreign exchange reserves will greatly weaken the implementation of our monetary policy, but also affect the sustainable development of China's economy. Therefore, it is not only far-reaching theoretical significance to study the influence of foreign exchange reserves on monetary policy under this background, but also has important practical significance. This paper is divided into five parts. The first chapter is the introduction, mainly introduces the background of the research, related literature review, innovation and deficiency. The second chapter expounds the general situation and present situation of China's foreign exchange reserves, mainly analyzes the reasons for the development of foreign exchange reserves, and puts forward the problem of the influence of the growth of foreign exchange reserves on monetary policy. The third chapter is the part of theoretical analysis. Theoretical research shows that the excessive growth of foreign exchange reserves leads to the limitation of monetary policy tools, the increase of the independence of monetary intermediation targets, and the deviation of monetary policy final objectives. As a result, the growth of foreign exchange reserves leads to the weakening of the implementation of monetary policy. The fourth chapter is the part of empirical analysis. The empirical analysis shows that the impact of foreign exchange reserves on money supply is significant. On the one hand, foreign exchange reserves promote the growth of GDP, on the other hand, the effect of inflation is obvious. The fifth chapter is the policy suggestion part, this article suggests to carry on the effective management to the foreign exchange reserve, deepens the exchange rate mechanism reform, further consummates the monetary policy and so on, so as to reduce the growth speed of the foreign exchange reserve and further enhance the implementation effect of the monetary policy. To ensure the normal operation of China's economy.
【学位授予单位】：安徽财经大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.6;F822.0

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