金融抑制下的公共债务清算中国的案例

发布时间：2018-08-13 17:46

【摘要】：本研究探讨中国政府在保持公共机构债务低成本方面从金融压抑中得到多大效益。如果金融抑制被定义为储蓄实际负利率,于中国家庭最为明显。在2003至2012年期间中国家庭存款实际利率为负百分之零点六。政府从金融抑制中节省的成本计算方法为实际负利率乘以公共机构债务。数据显示在1998至2012期间,一共六年(2003,2006,2007,2009,2010,2012)中国的公共机构债务的实际利率为负值；中国政府总共获益了1.706兆元人民币,这是相等于国民总收入的百分之三点九。换言之,金融抑制于降低中国公共机构债务的角色并不算显注。
[Abstract]:This study explores how much the Chinese government has benefited from financial repression in keeping public institutions' debt low-cost. If financial repression is defined as the real negative interest rate on savings, it is most evident in Chinese households. The real interest rate on household deposits in China between 2003 and 2012 was minus 0.6%. The government's savings from financial repression are calculated by multiplying real negative interest rates by public agency debt. The figures show that between 1998 and 2012, the real interest rate on China's public agency debt was negative for six years (2003,2006 / 2009 / 2010 / 2012); the Chinese government benefited a total of 1.706 trillion yuan, or 3.9% per cent of total Yu Guomin revenues. In other words, the role of financial repression in reducing the debt of China's public institutions is not obvious.
【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】：F812.5

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