【摘要】 针对 1 997年后出现的通货紧缩 ,我国实施扩大国内需求、促使经济景气回升的积极的财政政策和稳健的货币政策 ,效果之所以不显著 ,可能与政策着力点选择上的偏差有关。最终消费需求不仅是总需求的构成部分 ,而且决定着投资需求 ,是总需求的基础 ,扩大总需求关键是扩大最终消费需求。投资支出具有需求和供给双重效应 ,因而不是克服由生产能力过剩所导致的通货紧缩的最佳途径 ,对付通货紧缩应以扩大最终消费为财政政策和货币政策的最基本的着力点更多还原

【Abstract】 WT5BZ]:The Chinese government executed the expansion of internal demand to recover its economic situation after 1997 deflation; however, the outcome is by no means obvious. This might be related with the error of policy focus. The ultimate consumption demand is not only a component of overall demand but also determines investment demand. Investment expenses exercise the double effect of demand and supply; therefore, it is not the optimal approach to overcome deflation caused by the surplus of productive power. In order to deal with deflation, expanding ultimate consumption should be stressed as both financial and currency policies.[WT5HZ]更多还原