我國外匯儲備與貨幣供給量的關(guān)系研究.pdf

1、天津財經(jīng)大學碩士學位論文我國外匯儲備與貨幣供給量的關(guān)系研究姓名：焦薇申請學位級別：碩士專業(yè)：金融學指導教師：楊琤瑩20090501AbstractAlongwiththecomingoffinancialstorminSep2008ThewholeworldeconomyiscomingintotherecessionperiodAIthoughtheforeignexchangereserveinChinadidnotsufferab

2、iglOSSduringthefinancialcrisis，theincreasedratehasbeenloweddownUntilJan2009，theforeignexchangereservehadexcessed195trilliondollarFrom2002asthepersistenceoftradeandcapitalsurplustheforeignexchangereserveaccumulatedrapidly

3、SOthattheappreciationofRMBisexpectedSoinordertokeepthestableoftheexchangerateofI蝴BthegovernmentinputplentyofmoneySOastonetOfrtheexcessforeignexchangeintheforeignexchangemarketButinthethirdquarterof2008鶴thefinancialcrisis

4、gaveabadlyinfluenceontheeconomyofChinathemoneysupplyincreasedfromtightentolooseandthebankincreasedthevolumeofcommercialloanforenterpriseMeanwhilethemacroeconomicinChinahassufferedabigrgvase，theCPIdecreasedrapidlYandthein

5、creaserateofCPIAndinJan2009isonlyonepercentnepassageresearchedinthetransmissionmechanismofforeignexchangereserveandmoneysupplyandanalysistherelevantofthetwovariancesAtlastusingthemonthlydataofM0，Ml，M2andforeignexchangere

6、servetobuilduptheDoubleLogarithmModelSOthattogetaconclusionthattheforeignexchangereservebringsmoreinfluencetoMlthanM0andM2ThepaperconsistsoffivepartsPartoneiStheintroductionpartMainlyintroducingthepurposeandinnovationoft

7、heresearchAndsomeexpertshomeandabroadgaveanoverviewoftheproblemhowdotheforeignexchangereserveinfluencethemoneysupplyParttwointroducesthecurrentsituationofforei朗exchangereservefromfouraspects：quantitychangesourcestructure

8、，assetstructure，investmentstructureMeanwhile，explainingthereasonofwhytheforeignexchangereserveincreasedSapidlyPartthreeintroducestransmissionmechanismofforeignexchangereserveandmoneysupplyPartfourUSeStheDoubleLogarithmMo

9、deltogetaconclusionthattheforeignexchangereservebringsmoreinfluencetoM1thanM0andM2PartfiveisthelastpartofthepaperwhichputforwardsomesuggestionsandmethodstolosstheinfluenceofforeignexchangereserveonthemoneysupplySOastokee

10、ptheindependenceofmoneysupplypolicyForexample，usingplentyofforeignexchangereservetoinvestingoutside，usingtheexcessforeignexchangereservetohelpsmallenterpriseinvestingoutsideSOthattodecreasetheholdingofforeignexchangereve

11、rseinsideFromotherpoints，wecanalsousingthepoliciesSOasopenmarketoperations，controllingtheinvestmentassetflowinginsideandSOontoloosetheinfluenceofforeignexchangereservetomoneysupply’andkeeptheindependenceofmoneysupplyinCh