对影响货币乘数内在因素的实证分析和几点思考

1985年我国确立了中央银行体制下的货币供给管理体制.该体制中的三要素--基础货币、货币乘数和货币供应量之间的相互独立、相互依存的关系开始形成.它为我们从统计实证角度分析影响货币供给的内在因素提供了制度基础;1998年中央银行取消了信贷规模控制,提出了健全和完善以间接调控为主的货币政策工具,这对我们结合中国实际,从理论上分析我国基础货币的控制及货币乘数的稳定,提出了客观要求.

Inherent Elements Affecting Currency Multiplier:Some Thoughts and Practical Analysis

The management system of currency provision under the government of Central Bank was set up in 1985.The relationship of the three elements of base currency,currency multiplier and currency provisions began to be erected,which are mutually independent and dependent.It provides a basis of system for us to analyze the inherent elements affecting currency provision from the perspective of practical statistics.In 1998,the Central Bank canceled the control of credit line,and put forward the tool of currency policy with indirect adjustation and regulation as a main part.This poses an objective requirement when we analyze theoretically China's base currency control and the stability of currency multiplier by taking into consideration China's reality.