【作者】 杨慧；

【导师】 孙景兵；

【作者基本信息】 新疆大学 ， 政治经济学， 2008， 硕士

【摘要】 近年来,我国外汇储备额急剧上升,2006年2月超过日本,拥有世界第一的外汇储备量,截止到2007年底,我国外汇储备达到约1.53万亿美元。巨额外汇储备是我们国家综合实力的体现,对经济发展有很大的推动作用,但同时也给国内经济发展带来了一些负面影响。一方面,充足的外汇储备可以提高我国在世界上的信用能力和国际人士对人民币的信心,还可以吸引更多的外资进入我国,促进我国经济的发展。另一方面,在目前外汇管理体制下,外汇储备的持续增长,中央银行成为大部分外汇的最后买家,外汇占款成为我国中央银行投放基础货币的主要方式,导致货币供应量随之增长,同时也增加了通货膨胀压力,加大了货币政策调控的难度。使得央行的货币政策的作用效果大大减低,也削弱了货币政策的独立性。我国的外汇储备快速增长,成为体现和制约货币政策有效性的重要因素。本文分析了我国外汇储备的现状,介绍了外汇储备的形成原因,并对国内外有关外汇储备的相关研究进行了综述。在此基础上,从外汇储备对央行货币政策的影响的角度,分析我国外汇储备对货币政策的作用机理和将对货币政策产生何种制约。最后基于以上分析,提出了相应的建议和措施来改善这种状况。更多还原

【Abstract】 In the last few years, Foreign exchange reserves (FER) in China is increasing largely, and it exceeds Japan’s in February of 2006, and becomes the first in the word. Up to the end of 2007,the total amount of foreign exchange reserves has already amounted to about 1530 billion US dollars. The large amount of FER shows that our country’s power having been strengthened,it has the very great function to the economic development,but the fast growth of foreign exchange reserves also has brought some negative influences to our country’s economic development.On one hand, it may improve our credit ability and the trust to RMB in the world; it may not only attract more foreign fund to our country, but aslo promot the development of our economy.On the other hand,with present exchange control system,the central bank is the last buyer,so the mirror image of foreign exchange reserves is increasing with the FER increasing, the RMB counterpart of foreign exchange reserves are the main channel which is our country Central Bank putting the base currency into economy. It decreases the effect of monetary policy and weakens the independence monetary policy. FER in China is increasing sharply, and has become the significant factor of restricting the validity of monetary policy.This article analyses the present situation of FER , talks about evolution process of our country foreign exchange reserves,the reason of the increasing of foreign exchange reserves,and carries on the summary of the foreign exchange reserves research. After that,the article introduces the influence of the foreign exchange reserves to the monetary policy. It analyses our country’s foreign exchange reserves restriction and mechanism to the monetary policy. Finally,based on the conclusion,it puts forward to the corresponding proposal and the measurement to FER in China.更多还原