货币政策对政策性项目融资的关联影响度分析

发布时间：2018-05-21 04:31

本文选题：政策性项目 + 货币政策　；参考：《北京化工大学》2014年硕士论文

【摘要】：随着我国经济体制改革,经济发展,社会进步,日益增长的社会保障和公共产品服务需求与供给不足之间的矛盾日益激化,为了解决这类矛盾政府通常会推出一些项目,这些项目具有政府背景,在市场机制下运行,兼具政策性和市场性特点,本文把这类项目定义为政策性项目。作为一种依托政府相关政策并完全按照市场机制运作的新型项目,政策性项目融资在解决财政资金不足等方面发挥了重要作用。从传统观点和以往的实践经验来看,由于政府相关政策的保护,政策性项目融资风险往往较低。当前,我国货币政策在不断变化之中,这种变化导致政策性项目的融资风险发生了很大变化,给地方政府带来了新的风险。以往的文献主要集中在市政类项目融资和货币政策对企业融资影响等方面。以我国政策性项目为研究对象,结合当前我国货币政策变化,深层次探讨货币政策变化对政策性项目融资的具体影响具有十分重要的现实意义。本文在梳理和借鉴国内外相关文献研究成果的基础上,依据货币政策传导机制理论,对政策性项目的内涵进行定义；对政策性项目的融资方式、融资特征和融资现状与风险进行了全面分析；从宏观、中观、微观三个层面考虑政策性项目融资的关联影响因素；通过分析利率、存款准备金率、信贷政策和其他货币政策工具对政策性项目融资企业的影响；利用中央银行公布的相关统计数据,实证分析了利率、存款准备金率对政策性项目融资的具体影响；在此基础上提出了规范政策性项目实施细则、建立政策性项目固定贷款利率机制、设立政策性项目信贷配比额等建议促进政策性项目融资。
[Abstract]:With the reform of our country's economic system, economic development, social progress, the growing contradiction between social security and the demand for public goods and services and the shortage of supply, the government will usually launch some projects to solve these contradictions. These projects have government background, run under the market mechanism, and have the characteristics of policy and market. In this paper, we define these projects as policy projects. As a new type of project which relies on the government policies and operates in accordance with the market mechanism policy project financing plays an important role in solving the shortage of financial funds. From the traditional point of view and the past practical experience, because of the protection of the relevant government policies, the risk of financing policy projects is often lower. At present, China's monetary policy is constantly changing, which leads to great changes in the financing risk of policy projects, and brings new risks to local governments. The previous literatures mainly focus on municipal project financing and the influence of monetary policy on enterprise financing. Taking our country's policy project as the research object and combining with the current monetary policy changes, it is of great practical significance to probe into the specific influence of the monetary policy change on the financing of policy project. On the basis of combing and drawing lessons from domestic and foreign literature, this paper defines the connotation of policy project according to the theory of monetary policy transmission mechanism, and gives the financing method of policy project. Financing characteristics and financing status and risk are comprehensively analyzed; from the macro, meso and micro levels to consider the related factors of policy project financing; through the analysis of interest rates, deposit reserve ratio, The impact of credit policy and other monetary policy instruments on policy-oriented project financing enterprises is analyzed by using the relevant statistical data published by the Central Bank, and the specific impact of interest rate and reserve requirement ratio on policy project financing is analyzed empirically. On this basis, the paper puts forward some suggestions to promote the financing of policy projects, such as standardizing the implementation rules of policy projects, establishing the mechanism of fixed loan interest rate for policy projects, and setting up the credit ratio of policy projects.
【学位授予单位】：北京化工大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F822.0;F285

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