南方金融
南方金融
남방금융
South China Finance
2009年
9期
34~37
,共null页
货币政策传导 社区银行 小企业 美国
貨幣政策傳導 社區銀行 小企業 美國
화폐정책전도 사구은행 소기업 미국
The Transmission of Monetary Policy; Community Banks; Small Businesses; USA
美国的实践表明,社区银行是货币政策行动影响经济的一条重要渠道。这一方面体现在货币政策的改变对其贷款活动带来相比于其他银行机构更大的影响,另一方面则体现在经由其将不属于资本市场“活跃的参与者”的小企业也纳入货币政策显著影响的范围。鉴于我国货币政策在基层的传导效果不够理想,社区银行的发展可以为货币政策的传导提供基层承载体。
美國的實踐錶明,社區銀行是貨幣政策行動影響經濟的一條重要渠道。這一方麵體現在貨幣政策的改變對其貸款活動帶來相比于其他銀行機構更大的影響,另一方麵則體現在經由其將不屬于資本市場“活躍的參與者”的小企業也納入貨幣政策顯著影響的範圍。鑒于我國貨幣政策在基層的傳導效果不夠理想,社區銀行的髮展可以為貨幣政策的傳導提供基層承載體。
미국적실천표명,사구은행시화폐정책행동영향경제적일조중요거도。저일방면체현재화폐정책적개변대기대관활동대래상비우기타은행궤구경대적영향,령일방면칙체현재경유기장불속우자본시장“활약적삼여자”적소기업야납입화폐정책현저영향적범위。감우아국화폐정책재기층적전도효과불구이상,사구은행적발전가이위화폐정책적전도제공기층승재체。
The practices in U.S. show that community banks serves as an important channel for monetary policy actions to take effect on economy. This can be explained from two aspects. On the one hand, the change of monetary policy brings much bigger influence on lending behavior of community banks than on those of other banks, and on the other hand, through community banks, small businesses, which are not the active participants of capital markets, are also brought into the effect-scope of monetary policy. Seeing that the transmission of monetary policy at the primary level in China is not smooth, the development of community banks can provide primary carriers for the transmission of China' s monetary policy.