本文關鍵詞： 利率市場化 貨幣政策 泰勒規(guī)則 普爾模型　出處：《天津大學》2013年碩士論文　論文類型：學位論文

【摘要】：20世紀70年代末至80年代，金融自由化是全球經(jīng)濟最引人注目的現(xiàn)象之一，而金融自由化的核心和關鍵是利率市場化，因為，利率是宏觀經(jīng)濟運行中最重要的經(jīng)濟變量。如果利率沒有實現(xiàn)市場化，市場經(jīng)濟也是不完整的。 利率市場化在理論文獻中就是利率水平由貨幣市場和資本市場的借貸資金供求狀況決定這樣一種市場利率形成關系，利率市場化包括利率水平?jīng)Q定與變動的市場化、利率傳導機制的市場化、利率結構形成及其變動的市場化以及利率管理的市場化。 中國現(xiàn)已加入WTO過十年，建立市場化的利率體系是解決開放的宏觀經(jīng)濟條件下放開利率、匯率及保證貨幣政策有效性、資本自由流動等問題的關鍵。因此利率市場化在經(jīng)濟進一步開放中變得更加重要了。 本論文第一章提出了利率市場化的定義與內涵，并提出了本文研究的背景及意義；第二章通過古典的利率理論以及金融抑制和金融深化理論，，揭示了利率市場化的本質、特征，并結合其他國家的經(jīng)驗教訓，總結出各國推行利率市場化基本改革路線、面臨的問題及解決問題的辦法；第三章通過普爾模型分析得出，當前我國貨幣政策中介目標應由貨幣供應量向利率轉變；第四章通過分析利率與經(jīng)濟制度變遷、經(jīng)濟增長、儲蓄、消費、投資以及匯率等其它宏觀經(jīng)濟變量之間的內在聯(lián)系，得出利率是我國當前宏觀經(jīng)濟運行中最重要的經(jīng)濟變量，利率市場化改革有利于發(fā)揮利率的儲蓄、消費、投資及利率平價效應，從而促進經(jīng)濟的持續(xù)健康發(fā)展；第五章主要是說明我國利率市場化的基本進程以及改革的難點；第六章提出了我國利率市場化改革的路徑選擇及建議。通過這樣的結構安排，分析了我國利率市場化改革的必要性和必然性，并結合我國的實際情況分析了我國利率市場化改革的難點，最終提出了我國利率市場化改革應選擇怎樣的路徑。通過對中國利率市場化進程的判斷，可以得出利率市場化與整體的宏觀經(jīng)濟變革具有邏輯上的內在一致性，是我國市場經(jīng)濟進一步深化改革和發(fā)展的必然選擇。
[Abstract]:From the end of 1970s to 80s, financial liberalization was one of the most striking phenomena in the global economy, and the core and key of financial liberalization was interest rate liberalization, because, Interest rate is the most important economic variable in macroeconomic operation. If interest rate does not realize marketization, market economy is incomplete. The marketization of interest rate in the theoretical literature is that the level of interest rate is determined by the supply and demand of loan funds in the money market and capital market. The marketization of interest rate includes the marketization of the determination and change of interest rate level. The marketization of interest rate transmission mechanism, the formation of interest rate structure and its changes, and the marketization of interest rate management. China has now joined the WTO for more than ten years. To establish a market-oriented interest rate system is to solve the problem of liberalizing interest rates, exchange rates and ensuring the effectiveness of monetary policy under open macroeconomic conditions. Free flow of capital and other issues key. Therefore, interest rate liberalization has become more important in the further opening of the economy. The first chapter of this paper puts forward the definition and connotation of interest rate marketization, and puts forward the background and significance of this paper, the second chapter reveals the essence of interest rate marketization through classical interest rate theory, financial suppression and financial deepening theory. Characteristics, and combined with the experience and lessons of other countries, summed up the basic reform of interest rate marketization routes, facing problems and solutions; the third chapter through the Poole model analysis, At present, the intermediate target of monetary policy in China should be changed from money supply to interest rate. Chapter 4th analyzes the internal relationship between interest rate and other macroeconomic variables, such as economic institutional change, economic growth, savings, consumption, investment and exchange rate. It is concluded that interest rate is the most important economic variable in the current macro-economic operation of our country. The market-oriented interest rate reform is conducive to giving full play to the savings, consumption, investment and interest rate parity effects of interest rates, thus promoting the sustained and healthy development of the economy. Chapter 5th is mainly to explain the basic process of interest rate marketization and the difficulties of the reform in our country. Chapter 6th puts forward the path choice and suggestions for the reform of interest rate marketization in China. This paper analyzes the necessity and inevitability of China's interest rate marketization reform, and analyzes the difficulties of our country's interest rate marketization reform according to the actual situation of our country. By judging the process of interest rate marketization in China, we can draw the conclusion that the marketization of interest rate and the overall macro-economic reform are logically consistent. Is our country market economy further deepens the reform and the development the inevitable choice.
【學位授予單位】：天津大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F832.51;F822.0

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本文編號：1513949