货币政策对我国供给侧结构性改革支持的政策研究

发布时间：2019-03-02 11:57

【摘要】：2015年11月,中央经济工作会议第一次提出了供给侧结构性改革经济政策,经济新常态时期中国经济需要供给侧结构性改革来着力提高供给体系质量和效率,增强经济持续增长动力,推动我国社会生产力水平实现整体跃升。供给侧结构性改革,是适应和引领经济发展新常态的重大创新,是适应国际金融危机发生后综合国力竞争新形势的主动选择,是适应我国经济发展新常态的必然要求。因此,从供给侧角度探究经济增长的动力机制具有现实意义。本文研究的主要内容放在了去产能、去库存、去杠杆、降成本、补短板,全面实现产业结构升级和供需结构平衡,提高经济效率,走出经济困局。随着世界经济一体化发展,全球金融体系的健全,一国经济的发展态势受到世界经济周期趋势的影响。同时,对于该国的经济体和金融体系提出了更加高效和完善的要求,需要构建更为全面合理的经济发展体系。针对货币政策对供给侧结构性改革的影响和支持路径的选择研究,主要分为两个方向:一方面是供给侧结构性改革的侧重点和主要内容,另一方面是研究货币政策各项可行路径的选择。通过分析研究可以得到,货币政策对供给侧结构性改革支持路径有如下几项:(1)利率市场化的定价体系,更加稳健的市场有利于去产能、去库存、降成本;(2)完善多层次的资本市场,多渠道融资来降低成本和去杠杆;(3)汇率政策的健全,汇率市场化有利于去产能;(4)金融体系的创新,弥补我国金融体系的短板;(5)货币政策工具的创新,适应新常态经济发展时期的供给侧结构性改革。从行业发展情况建立的综合评价体系中得到各项货币政策指标的评价值,针对本文研究结果,最终提出以下几点政策建议:第一,着眼于国内外经济形势,培育供给侧结构性改革新政策。首先,分析清楚当前的经济形势,提出结构性改革;其次,认识到供给侧结构性改革的迫切性,提出改革的主要内容;最后,找准供给侧结构性改革的出发点,铺垫好结构性改革的基础。第二,着眼于货币政策的机理分析,构建供给侧结构性改革的支持路径。首先,货币政策各项支持路径的实施,既具有针对性又互相交错影响;其次,货币政策与供给侧结构性改革的融合互动,创新出新的体制机制。第三,根据新时期的需要重构货币政策体系。首先,根据供给侧结构性改革,选取货币政策指标的侧重点;其次,以货币政策与实体经济的联系,来促进经济增长;最后,货币政策要响应供给侧结构性改革的发展。
[Abstract]:In November 2015, the Central Economic work Conference first proposed a supply-side structural reform economic policy. In the new normal period, China's economy needs supply-side structural reform to focus on improving the quality and efficiency of the supply system. We will strengthen the impetus for sustained economic growth and promote the overall jump in the level of social productivity in China. Supply-side structural reform is an important innovation to adapt to and lead the new normal of economic development, an active choice to adapt to the new situation of comprehensive national strength competition after the occurrence of the international financial crisis, and an inevitable requirement to adapt to the new normal of China's economic development. Therefore, it is of practical significance to explore the dynamic mechanism of economic growth from the perspective of supply side. The main content of this paper is to reduce the production capacity, deleverage, reduce the cost, make up the deficiency, realize the upgrading of the industrial structure and balance the supply and demand structure in an all-round way, improve the economic efficiency, and get out of the economic difficult situation. With the development of the world economic integration and the perfection of the global financial system, the development trend of a country's economy is influenced by the trend of the world economic cycle. At the same time, the country's economy and financial system put forward more efficient and perfect requirements, need to build a more comprehensive and reasonable economic development system. The research on the influence of monetary policy on supply-side structural reform and the choice of supporting path can be divided into two directions: on the one hand, it is the focus and main content of supply-side structural reform; On the other hand, it is to study the choice of feasible path of monetary policy. Through the analysis and research, it can be concluded that the monetary policy supports the supply-side structural reform as follows: (1) the pricing system of interest rate marketization, a more robust market is conducive to the reduction of production capacity, inventory and cost reduction; (2) perfect multi-level capital market, multi-channel financing to reduce cost and deleveraging; (3) perfect exchange rate policy, exchange rate marketization is beneficial to capacity reduction; (4) innovation of financial system to make up for the deficiency of our financial system; (5) the innovation of monetary policy tools should adapt to the supply-side structural reform in the new normal period of economic development. The evaluation value of various monetary policy indicators is obtained from the comprehensive evaluation system of industry development. According to the research results of this paper, the following policy suggestions are finally put forward: first, focusing on the domestic and foreign economic situation, We will foster a new policy for supply-side structural reform. First of all, analyze the current economic situation clearly, put forward structural reform, second, recognize the urgency of supply-side structural reform, put forward the main content of the reform; Finally, find the starting point of supply-side structural reform and lay the foundation of structural reform. Secondly, focusing on the mechanism analysis of monetary policy, the supporting path of supply-side structural reform is constructed. First of all, the implementation of various support paths of monetary policy has both pertinence and interlacing influence; secondly, the integration of monetary policy and supply-side structural reform has created a new institutional mechanism. Third, according to the needs of the new period, the reconstruction of the monetary policy system. First of all, according to the supply-side structural reform, select the focus of monetary policy indicators; secondly, the relationship between monetary policy and real economy to promote economic growth; finally, monetary policy should respond to the development of supply-side structural reform.
【学位授予单位】：华东交通大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F822.0;F121

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