本文選題：信貸渠道　切入點：銀行貸款　出處：《西南財經(jīng)大學(xué)》2013年碩士論文　論文類型：學(xué)位論文

【摘要】：各國的貨幣政策是通過相應(yīng)的傳導(dǎo)渠道影響實體經(jīng)濟的,而傳導(dǎo)渠道的暢通與否直接決定了貨幣政策的實施效果。西方的經(jīng)濟理論把貨幣政策傳導(dǎo)的傳導(dǎo)渠道分為兩大類,即貨幣渠道和信貸渠道,現(xiàn)有的研究成果表明,當前歐美一些發(fā)達國家的貨幣政策主要通過貨幣渠道來傳導(dǎo),而對于經(jīng)濟發(fā)展相對落后的發(fā)展中國家,信貸渠道在貨幣政策傳導(dǎo)過程中起主要作用。 自1984年確立中央銀行制度起,我國才正式形成現(xiàn)代意義上的貨幣政策。從此,中央銀行在很長一段時間內(nèi)直接控制國內(nèi)的信貸規(guī)模,信貸計劃是當時最主要的宏觀調(diào)控工具,而準備金、利率工具只是輔助的調(diào)節(jié)工具,因此當時信貸政策在我國貨幣政策中占主要地位。1998年起,中央銀行取消了對商業(yè)貸款規(guī)模的直接控制,逐步轉(zhuǎn)向間接調(diào)控,即通過運用存款準備金等貨幣政策工具影響商業(yè)銀行的貸款供應(yīng)量,進而控制國內(nèi)的貸款規(guī)模,以期達到最終的調(diào)控目標。 隨著貨幣市場和資本市場的快速發(fā)展,我國實施貨幣政策的經(jīng)濟環(huán)境不斷發(fā)生變化,從而貨幣政策由基本靠信貸渠道傳導(dǎo)向信貸渠道、貨幣渠道共同傳導(dǎo)轉(zhuǎn)變。但是,由于目前我國利率的未完全市場化、管制的有浮動匯率政策以及資本市場的相對不完善等原因,決定了貨幣渠道的傳導(dǎo)效果比較弱,也就是說信貸渠道在我國貨幣政策傳導(dǎo)過程中仍占有重要地位。研究信貸渠道的傳導(dǎo)效應(yīng)不僅能夠全面了解我國貨幣政策傳導(dǎo)的信貸渠道,對目前我國該渠道的現(xiàn)狀有更為清晰的認識,而且對提高信貸渠道的傳導(dǎo)效應(yīng)也會有一定的現(xiàn)實意義。 在現(xiàn)有理論和文獻回顧的基礎(chǔ)上,文章在理論分析方面首先對我國貨幣政策信貸傳導(dǎo)渠道的存在性進行了探討,得出我國該渠道存在的結(jié)論,然后結(jié)合我國的實際情況對該渠道的作用機理進行詳盡的分析,最后對影響信貸傳導(dǎo)渠道的影響因素從宏觀和微觀兩個層次進行歸納。在對我國貨幣政策的信貸傳導(dǎo)渠道有個理論上的認識以后,文章利用計量經(jīng)濟模型對其兩個階段進行實證研究。最后根據(jù)研究的結(jié)論提出相應(yīng)的政策建議,以期為疏通我國貨幣政策信的信貸傳導(dǎo)渠道提供相應(yīng)的參考。 與以往研究相比,本文的主要特點在于：第一,較為系統(tǒng)地分析目前影響我國信貸渠道發(fā)揮作用的主要因素,隨著我國經(jīng)濟的快速發(fā)展,我國貨幣政策的經(jīng)濟環(huán)境和微觀基礎(chǔ)不斷發(fā)生變化,這無疑使我國貨幣政策傳導(dǎo)更具復(fù)雜性。而信貸渠道作為極為重要的傳導(dǎo)渠道,它的傳導(dǎo)效果也將決定了貨幣政策的最終效應(yīng),因此對其影響因素進行分析尤為重要,而現(xiàn)有文獻鮮有對此的研究。第二,定性分析與定量研究相結(jié)合,文章結(jié)合我國貨幣政策信貸傳導(dǎo)渠道的實際情況,對一些經(jīng)濟變量進行了描述性統(tǒng)計分析,并運用相應(yīng)實證方法研究了我國貨幣政策信貸傳導(dǎo)渠道的效應(yīng),以準確得出該渠道所發(fā)揮的作用以及存在的問題。
[Abstract]:The monetary policy of all countries is through the corresponding transmission channels of the real economy, and the conduction channels directly determines the effect of monetary policy. The western economic theory of the transmission channel of monetary policy transmission is divided into two categories, namely the money channel and credit channel, the existing research results show that the current European and US monetary policy in developed countries mainly through the monetary channel conduction, and for the economic development of developing countries is relatively backward, the credit channel plays a major role in monetary policy transmission process.
Since 1984 the establishment of the central bank system, China was officially formed the modern sense of the monetary policy. Since then, the central bank directly control domestic credit scale in a very long period of time, the credit plan was the most important policy tool, and the reserve, interest rate is only an auxiliary adjusting tool, so that the credit policy in China's monetary policy is dominant in the year.1998, the central bank canceled the direct control of commercial loans, gradually to indirect control, is through the use of the impact of the Reserve monetary policy instruments such as the supply of credit of commercial banks, and then control the domestic loan size, in order to achieve control of the ultimate goal.
With the rapid development of the money market and the capital market, the implementation of monetary policy in China's economic environment change constantly, thus basically rely on the credit channel of monetary policy by conducting credit channels, change the monetary channel conduction. However, due to the current interest rate is not fully market-oriented, the control has a relatively imperfect floating exchange rate policy and capital market, determines the transmission effect of monetary channel is relatively weak, that is to say the credit channel still plays an important role in the conduction process of China's monetary policy. The transmission effect of the credit channel can not only study the comprehensive understanding of China's monetary policy transmission channels of credit, have a more clear understanding of the present situation in our country the channel, but also to improve the transmission effect of the credit channel will also have a certain practical significance.
Based on the existing theory and literature review, the paper in the theoretical analysis first of China's monetary policy are discussed, that our country the channels of the conclusion, and then combined with the actual situation in China to analyze the detailed mechanism of the channel, finally impact on the credit transmission the channel influence factors were summarized from two aspects of macro and micro levels. There is a theoretical understanding on the credit channel of monetary policy in our country, this paper makes an empirical study on the two stages by using econometric model. Then according to the conclusion of the study and put forward the corresponding policy recommendations, provide a reference to the credit the transmission channel for dredging the monetary policy of our country of the letter.
Compared with the previous research, is the main characteristics of this paper: first, systematically analysis the main influencing factors of current our country credit channels play a role, with the rapid development of China's economy, China's monetary policy in the economic environment and the micro foundation of changing, it is no doubt that China's monetary policy transmission is more complex. The credit channel is very important as the transmission channel, its conduction effect will determine the ultimate effect of monetary policy, so the analysis is particularly important influence factors, and researches the existing literature rarely. Second, combining qualitative analysis and quantitative analysis, based on the actual situation of the credit channel of monetary policy in China the economic variables on the descriptive statistical analysis, and studied the effect of the credit channel of monetary policy in China by using the corresponding empirical methods to accurately obtain the The role of the channel and the existing problems.

【學(xué)位授予單位】：西南財經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F822.0;F832.4

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