欧元区量化宽松政策面临的问题与影响

发布时间：2018-05-21 03:33

本文选题：欧元区 + 量化宽松政策　；参考：《经济纵横》2015年04期

【摘要】：欧元区量化宽松政策的出台具有一定的必然性。欧元区经济复苏不力、就业市场疲软和财政整固等使欧元区逐步面临通货紧缩的风险,欧洲议会和希腊大选等政治事件使欧元区面临一定的分裂风险,拯救欧元具有经济和政治意义。欧元区量化宽松政策是一个涉及政策制定、执行、关键环节、工具及风险管控等的综合体系,预计到2016年9月欧洲央行将购买超过1万亿欧元的债券。欧元区量化宽松政策的实施整体有利于欧元区经济复苏和全球经济增长,但中长期而言,受制于欧洲联合的体制机制制约,欧元区量化宽松政策的效力可能有限。欧元区量化宽松政策将给全球经济格局、资金流动、汇率变化、贸易投资及大宗商品市场等带来极大的不确定性,也会使中国面临更加复杂的外部环境,贸易、汇率、资本流动等面临重大的风险。
[Abstract]:The introduction of quantitative easing in the euro zone has certain inevitability. The weak economic recovery in the euro zone, the weak job market and fiscal consolidation have gradually exposed the euro zone to the risk of deflation. Political events such as the European Parliament and the Greek election have put the euro zone at a certain risk of fragmentation. Saving the euro has economic and political implications. The euro zone's quantitative easing, a comprehensive system of policymaking, implementation, key links, tools and risk management, is expected to buy more than 1 trillion euros of bonds by September 2016. The implementation of quantitative easing in the euro zone as a whole is conducive to the recovery of the euro zone and global growth, but in the medium to long term, the effectiveness of quantitative easing in the euro zone may be limited by the constraints of a joint European institutional mechanism. The policy of quantitative easing in the euro zone will bring great uncertainty to the global economic structure, capital flows, exchange rate changes, trade and investment, and commodity markets. It will also make China face a more complex external environment, trade, exchange rate, etc. Capital flows and so on face major risks.
【作者单位】：中国社会科学院金融研究所;
【基金】：国家社科基金重点项目“我国金融体系的系统性风险与金融监管改革研究”(编号:13AJY018);国家社科基金青年项目“西方国家金融危机与制度弊端分析研究”(编号:14CJL017) 中国社会科学院金融研究所重点课题“债务危机演进机制研究”的成果
【分类号】：F825

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