本文選題：外匯儲(chǔ)備 + 貨幣供應(yīng)量��； 參考：《新疆財(cái)經(jīng)大學(xué)》2013年碩士論文

【摘要】：外匯儲(chǔ)備是一個(gè)國(guó)家持有的國(guó)際儲(chǔ)備資產(chǎn)的重要組成部分，是一個(gè)國(guó)家經(jīng)濟(jì)實(shí)力的象征。自從2001年末正式加入WTO以來(lái)，我國(guó)國(guó)際收支實(shí)現(xiàn)了長(zhǎng)時(shí)期的雙順差，外匯儲(chǔ)備余額迅速躥升；同時(shí)期為對(duì)沖外匯儲(chǔ)備對(duì)國(guó)內(nèi)貨幣供應(yīng)量的影響，央行的貨幣政策操作逐漸轉(zhuǎn)向以發(fā)行中央銀行票據(jù)和頻繁調(diào)整法定存款準(zhǔn)備金率為手段回收過(guò)量的流動(dòng)性。2007年國(guó)際金融危機(jī)爆發(fā)后我國(guó)外匯儲(chǔ)備增速開(kāi)始放緩；但是同時(shí)期我國(guó)的貨幣供應(yīng)增速驚人，尤其是2009年廣義貨幣供應(yīng)量（M2）增長(zhǎng)率達(dá)到驚人的27.70%。進(jìn)入2011年下半年，我國(guó)外匯儲(chǔ)備出現(xiàn)了極為罕見(jiàn)的季度下降，2012年上半年以月度計(jì)各月外匯儲(chǔ)備有升有降，以往外匯儲(chǔ)備單向增長(zhǎng)的局面有所改變。隨著國(guó)內(nèi)外經(jīng)濟(jì)金融形勢(shì)變化導(dǎo)致外匯儲(chǔ)備變動(dòng)的不確定性增加，，我國(guó)以往被動(dòng)依賴外匯儲(chǔ)備增長(zhǎng)注入流動(dòng)性的貨幣供應(yīng)方式可能出現(xiàn)趨勢(shì)性的改變。 本文即是在上述大的背景下研究外匯儲(chǔ)備影響我國(guó)貨幣供應(yīng)量的問(wèn)題。本文首先分析我國(guó)外匯儲(chǔ)備和貨幣供應(yīng)量增長(zhǎng)的階段性特征和背后的原因以及未來(lái)增長(zhǎng)趨勢(shì)，進(jìn)而根據(jù)外匯儲(chǔ)備影響貨幣供應(yīng)量的理論基礎(chǔ)和影響機(jī)理，實(shí)證研究各個(gè)階段外匯儲(chǔ)備影響貨幣供應(yīng)量的的特點(diǎn)并分析背后可能的原因，最后根據(jù)未來(lái)可以預(yù)見(jiàn)的經(jīng)濟(jì)金融格局的深刻變化提出一些可行的對(duì)策建議。 以往大部分研究只關(guān)注到外匯儲(chǔ)備快速增長(zhǎng)時(shí)期甚至以外匯儲(chǔ)備會(huì)持續(xù)單向增長(zhǎng)為假設(shè)分析外匯儲(chǔ)備對(duì)我國(guó)貨幣供應(yīng)量的影響。顯然，由于時(shí)間關(guān)系和現(xiàn)實(shí)經(jīng)濟(jì)金融環(huán)境變化的影響，本文的研究背景和樣本數(shù)據(jù)更加豐富，研究結(jié)論和對(duì)策建議對(duì)未來(lái)也更有參考價(jià)值。本文的創(chuàng)新之處在于比較完整地分析了我國(guó)各個(gè)時(shí)期外匯儲(chǔ)備變動(dòng)對(duì)貨幣供應(yīng)量的影響，實(shí)證分析中運(yùn)用較先進(jìn)的非參數(shù)核分析方法對(duì)各時(shí)期劃分進(jìn)行了較精確的判斷。最后在近年來(lái)國(guó)內(nèi)外經(jīng)濟(jì)金融形勢(shì)發(fā)生巨大變化的背景下，提出了未來(lái)調(diào)控的一些具體可行的對(duì)策建議：逐步實(shí)現(xiàn)國(guó)際收支平衡；增強(qiáng)人民幣匯率彈性；完善并合理運(yùn)用發(fā)揮對(duì)沖作用的貨幣政策工具。
[Abstract]:The foreign exchange reserve is an important part of a country's holdings of international reserve assets, is a symbol of the strength of the national economy. Since the end of 2001 officially joined the WTO, China's international balance of payments surplus to achieve a long period of time, the balance of foreign exchange reserves rise during the same period; influence on impact of foreign exchange reserves on the domestic money supply the operation of monetary policy the central bank to gradually shift to issuance of central bank bills and frequent adjustment of the statutory deposit reserve ratio as a means of recovering excess liquidity.2007 years after the international financial crisis on China's foreign exchange reserves growth started to slow down; but at the same time China's money supply growth is amazing, especially in 2009, the broad money supply (M2) the growth rate of a staggering 27.70%. into the second half of 2011, China's foreign exchange reserves fell extremely rare in the quarter, the first half of 2012 to the month monthly foreign exchange The reserve was up and down, the foreign exchange reserves of unidirectional growth situation has changed. With the increase of foreign exchange reserves lead to changes in the domestic and international economic and financial situation of uncertainty, China's reliance on foreign exchange reserves into the money supply liquidity may appear the trend of change.
This paper is the influence of the foreign exchange reserves of China's money supply in the larger context of the problem. This paper analyzes the characteristics and reasons behind the supply of China's foreign exchange reserves and monetary growth and future growth trend, according to the impact of foreign exchange reserve money supply mechanism of theoretical basis and the impact of various stages an empirical study on the influence of the foreign exchange reserves the characteristics of money supply and the reasons behind may, according to the profound changes in the foreseeable future economic and financial situation and puts forward some feasible countermeasures and suggestions.
Most of the previous studies only pay attention to the rapid growth of foreign exchange reserves in foreign exchange reserves will continue even during the period of growth for the one-way hypothesis analysis of the impact of foreign exchange reserve on monetary supply in China. Obviously, due to the influence of time and reality of economic and financial environment changes, the research background and abundant sample data, conclusions and suggestions for future research it has better reference value. The innovation of this paper lies in the complete analysis of the different periods of China's foreign exchange reserves impact on money supply, the non parametric kernel analysis methods are more accurate judgment on the Period Division advanced by empirical analysis. Finally, in recent years, domestic and international economic and financial situation has undergone tremendous changes under the background, puts forward some feasible countermeasures and suggestions: to gradually realize the future regulation of the international balance of payments; enhance RMB exchange rate Flexibility; a monetary policy tool that consummate and rationally use hedging.

【學(xué)位授予單位】：新疆財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F832.6;F822.2

【參考文獻(xiàn)】

相關(guān)期刊論文 前10條

1 汪洋;中央銀行票據(jù):終將消逝的政策工具[J];財(cái)經(jīng)科學(xué);2005年05期

2 周世成;關(guān)于我國(guó)基礎(chǔ)貨幣調(diào)控的若干思考[J];財(cái)經(jīng)論叢(浙江財(cái)經(jīng)學(xué)院學(xué)報(bào));2004年01期

3 王海民;;金融危機(jī)影響下中國(guó)貨幣乘數(shù)的穩(wěn)定性實(shí)證分析[J];財(cái)經(jīng)問(wèn)題研究;2010年03期

4 黃武俊;陳漓高;;外匯資產(chǎn)、基礎(chǔ)貨幣供應(yīng)與貨幣內(nèi)生性——基于央行資產(chǎn)負(fù)債表的分析[J];財(cái)經(jīng)研究;2010年01期

5 唐文進(jìn);謝海林;;匯率變動(dòng)、央行票據(jù)與沖銷成本:2004-2009[J];財(cái)經(jīng)研究;2011年03期

6 姜永宏;劉曉娜;朱錦峰;;我國(guó)近期貨幣乘數(shù)變動(dòng)與貨幣控制[J];南方金融;2007年08期

7 趙慶明;;我國(guó)外匯儲(chǔ)備增長(zhǎng)根源及治理研究[J];國(guó)際金融研究;2007年08期

8 趙偉;朱永行;王宇雯;;中國(guó)貨幣政策工具選擇研究[J];國(guó)際金融研究;2011年08期

9 談?wù)_(dá);顧巧明;胡海鷗;;外匯資產(chǎn)、國(guó)內(nèi)信貸與宏觀流動(dòng)性過(guò)�！阢y行體系資產(chǎn)負(fù)債表的分析[J];國(guó)際金融研究;2012年04期

10 汪洋;;中國(guó)對(duì)外凈資產(chǎn)增加意味著什么?——對(duì)中國(guó)國(guó)際投資頭寸表的解讀[J];國(guó)際經(jīng)濟(jì)評(píng)論;2007年05期

相關(guān)博士學(xué)位論文 前1條

1 楊麗;中國(guó)國(guó)際收支雙順差的貨幣供給效應(yīng)研究[D];遼寧大學(xué);2008年

本文編號(hào)：1739510