中国工业经济
中國工業經濟
중국공업경제
China Industrial Economy
2011年
6期
36~46
,共null页
经济增长 物价稳定 货币政策 省域异质性
經濟增長 物價穩定 貨幣政策 省域異質性
경제증장 물개은정 화폐정책 성역이질성
economic increase; price stabilization; monetary policy; provincial heterogeneity effects
货币政策的区域异质性效应是指统一货币政策在不同区域形成的差异性效果。与大多现有文献不同的是．本文首先运用AD—AS模型梳理出了货币政策区域异质性效应的形成机理，然后采用中国31个省域的数据进行了实证分析．最后指出了货币配给机制与外汇管理机制是导致我国货币政策区域异质性效应的主要因素。本文建议：为消除异质性效应带来的负面影响，应实施区域差别化的存款准备金率等货币政策、改变银行信贷资金纵向管理和区域分割等体制、增强要素的跨区流动性．并重新设计央行的“大区行体制”组织架构等．
貨幣政策的區域異質性效應是指統一貨幣政策在不同區域形成的差異性效果。與大多現有文獻不同的是．本文首先運用AD—AS模型梳理齣瞭貨幣政策區域異質性效應的形成機理，然後採用中國31箇省域的數據進行瞭實證分析．最後指齣瞭貨幣配給機製與外彙管理機製是導緻我國貨幣政策區域異質性效應的主要因素。本文建議：為消除異質性效應帶來的負麵影響，應實施區域差彆化的存款準備金率等貨幣政策、改變銀行信貸資金縱嚮管理和區域分割等體製、增彊要素的跨區流動性．併重新設計央行的“大區行體製”組織架構等．
화폐정책적구역이질성효응시지통일화폐정책재불동구역형성적차이성효과。여대다현유문헌불동적시．본문수선운용AD—AS모형소리출료화폐정책구역이질성효응적형성궤리，연후채용중국31개성역적수거진행료실증분석．최후지출료화폐배급궤제여외회관리궤제시도치아국화폐정책구역이질성효응적주요인소。본문건의：위소제이질성효응대래적부면영향，응실시구역차별화적존관준비금솔등화폐정책、개변은행신대자금종향관리화구역분할등체제、증강요소적과구류동성．병중신설계앙행적“대구행체제”조직가구등．
The regional heterogeneity effects of monetary policy mean that the same monetary policy brings different results in different regions. Different from most of related literature, this article firstly points out the basic theoretically mechanism of the regional heterogeneity effects of monetary policy under the theory of AD-AS model. Secondly, it gives an empirical analysis based on Chinese 31 provincial data. At last, it is found that the credit rationing mechanism and the foreign exchange management system are the main reasons why there are regional heterogeneity effects of monetary policy in China. In order to eliminate the negative effects influenced by heterogeneity effects of monetary policy, it is suggested that the differential deposit reserve ratio and other monetary policies should be executed, the vertical management system and regional division system of credit funds should be reformed, the inter-regional liquidity of production factors should be enhanced, and great regional organization of central bank should be redesigned and improved.
