本文選題：存款準(zhǔn)備金工具 + 弱化趨勢(shì)�。� 參考：《河北大學(xué)》2012年碩士論文

【摘要】：法定存款準(zhǔn)備金工具素為貨幣政策“三大法寶”之一，制度選擇及其在貨幣政策工具領(lǐng)域不斷變化的作用和特點(diǎn)，一直是我國(guó)的重要議題。尤其是近年來(lái)，各國(guó)紛紛削弱法定準(zhǔn)備金工具的政策作用，而我國(guó)卻頻繁運(yùn)用該工具，故研究我國(guó)存款準(zhǔn)備金工具逆勢(shì)操作的原因和效果，從而判斷這項(xiàng)制度在我國(guó)的發(fā)展趨勢(shì)，探討如何能使其更有效地發(fā)揮作用，這一論題意義深遠(yuǎn)。 2006年以來(lái)，我國(guó)頻繁運(yùn)用準(zhǔn)備金工具，至今5年多時(shí)間內(nèi)已使用準(zhǔn)備金工具37次之多。工具操作由建立之初的低頻率、大幅度操作，轉(zhuǎn)變?yōu)楦哳l率、小幅度頻繁運(yùn)用，政策的積極效果表現(xiàn)在短暫影響信貸規(guī)模、實(shí)現(xiàn)政策目標(biāo)同時(shí)未引起市場(chǎng)劇烈波動(dòng)、優(yōu)化資金結(jié)構(gòu)等方面。同時(shí)，也存在阻礙金融市場(chǎng)改革及貨幣政策工具創(chuàng)新、對(duì)沖房?jī)r(jià)調(diào)控政策等不利影響。但現(xiàn)階段我國(guó)準(zhǔn)備金工具的逆勢(shì)操作具有一定的現(xiàn)實(shí)意義，究其原因主要有以下幾點(diǎn)：1、我國(guó)市場(chǎng)經(jīng)濟(jì)仍處初級(jí)階段，，金融市場(chǎng)尚不發(fā)達(dá)；2、間接融資占據(jù)我國(guó)金融市場(chǎng)的主體地位；3、我國(guó)特有的存款準(zhǔn)備金付息制度；4、我國(guó)貨幣政策中介目標(biāo)仍為貨幣供應(yīng)量；5、我國(guó)流動(dòng)性保障工具缺失。 長(zhǎng)遠(yuǎn)來(lái)看，當(dāng)金融市場(chǎng)發(fā)展到一定水平后，我國(guó)存款準(zhǔn)備金工具運(yùn)用終將順應(yīng)國(guó)際潮流呈現(xiàn)逐漸弱化的態(tài)勢(shì)。然而，在很長(zhǎng)一段時(shí)期內(nèi)仍將沿用，故需要對(duì)工具本身及其傳導(dǎo)過(guò)程及存在的準(zhǔn)備金付息、監(jiān)管漏洞、市場(chǎng)傳導(dǎo)不利等問(wèn)題進(jìn)行改進(jìn)。相應(yīng)優(yōu)化措施主要有：推行利率市場(chǎng)化，擴(kuò)大準(zhǔn)備金工具作用范圍，豐富差別存款準(zhǔn)備金制以及“叫�！睖�(zhǔn)備金付息制等。
[Abstract]:Legal deposit reserve instrument is one of the "three magic weapons" of monetary policy. The choice of institution and its changing role and characteristics in the field of monetary policy instruments have always been an important topic in our country. Especially in recent years, many countries have weakened the policy function of the legal reserve instrument, but our country has frequently used the tool, so the reason and effect of the countertrend operation of the deposit reserve tool in our country are studied. Therefore, judging the development trend of this system in our country and exploring how to make it work more effectively is of far-reaching significance. Since 2006, our country has frequently used reserve fund tools. So far more than five years have used reserve tools 37 times. The tool operation changed from low frequency and large scale operation at the beginning of its establishment to high frequency and small scale frequent use. The positive effect of the policy is that it affects the scale of credit briefly, realizes the policy goal and does not cause the market to fluctuate violently. Optimize capital structure and so on. At the same time, there are some negative effects, such as financial market reform and monetary policy innovation, hedging housing price regulation policy and so on. However, the countertrend operation of reserve instruments in our country at present has certain practical significance. The main reasons are as follows: 1. The market economy of our country is still in the primary stage, and the financial market is not developed. (2) indirect financing occupies the main position of financial market in our country, the special system of deposit reserve and interest payment in our country is 4%, the intermediate target of monetary policy is still money supply, and the liquidity guarantee tool is missing in our country. In the long run, when the financial market develops to a certain level, the use of deposit reserve instruments in China will eventually conform to the international trend and gradually weaken. However, it will still be used for a long period of time, so it is necessary to improve the tool itself and its transmission process, as well as the existing reserve payment, regulatory loopholes, market transmission disadvantages and so on. The corresponding optimization measures are as follows: carrying out interest rate marketization, expanding the scope of reserve instruments, enriching the differential deposit reserve system and "stopping" the reserve interest payment system and so on.
【學(xué)位授予單位】：河北大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2012
【分類號(hào)】：F822.0

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