【摘要】 自20世纪80年代起,发达国家的金融业由产业分立转向产业融合,银行业、证券业与保险业之间的传统边界开始消失,彼此之间由非竞争关系变为竞争关系。产业融合对中央银行实施的货币政策产生了深刻的影响和强烈的冲击,使货币政策的有效性下降,改变了中央银行的货币传导机制,对传统的三大货币政策工具——法定存款准备政策、再贴现政策、公开市场业务产生了不同的影响。更多还原

【Abstract】 Since the 1980s in the developed countries,there has been convergence of financial industry——banking,insurance and securieties,whose lines have been disappearing,thus changing from non-competition to competition.The convergence of financial industry makes a notable impact on the monetary policies:their effectiveness is decreased;the monetary transmitting mechanism of the central bank is transformed.更多还原