金融发展研究
金融髮展研究
금융발전연구
JOURNAL OF FINANCIAL DEVELOPMENT RESEARCH
2012年
1期
54-58
,共5页
票据融资%博弈论%VAR模型%货币政策
票據融資%博弈論%VAR模型%貨幣政策
표거융자%박혁론%VAR모형%화폐정책
notes financing%game theory%VAR model%monetary policy
本文以山东省为例，运用博弈论等方法对票据融资拐点机理及其对货币政策传导机制的影响进行了研究，阐述票据融资与货币政策传导机制、经济发展的具体关系，进一步论证了当前我国票据融资的“泡沫化”和功能的“变异化”，并基于中央银行角度，从功能再造、机制创新及市场拓展等三个方面就畅通票据融资在货币政策传导中的作用提出了相关政策建议。
本文以山東省為例，運用博弈論等方法對票據融資枴點機理及其對貨幣政策傳導機製的影響進行瞭研究，闡述票據融資與貨幣政策傳導機製、經濟髮展的具體關繫，進一步論證瞭噹前我國票據融資的“泡沫化”和功能的“變異化”，併基于中央銀行角度，從功能再造、機製創新及市場拓展等三箇方麵就暢通票據融資在貨幣政策傳導中的作用提齣瞭相關政策建議。
본문이산동성위례，운용박혁론등방법대표거융자괴점궤리급기대화폐정책전도궤제적영향진행료연구，천술표거융자여화폐정책전도궤제、경제발전적구체관계，진일보론증료당전아국표거융자적“포말화”화공능적“변이화”，병기우중앙은행각도，종공능재조、궤제창신급시장탁전등삼개방면취창통표거융자재화폐정책전도중적작용제출료상관정책건의。
This article makes the research on the formation mechanism of turning point of notes financing and its effect on the monetary policy with the method of game theory, taking the case of Shandong Province. Further, this article represents the relationship among notes financing, its effect of monetary policy and economic development in detail, demonstrating the ＂Spumescence＂ and ＂distortion＂ of notes financing＇s function. Finally, the paper puts forward the policy recommendations aiming at optimizing the function of notes financing through the three ways： function reengineering, institution innovation and market expanding, from the angle of central bank.
