企业结构变迁对我国总量货币需求的影响
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| Title | The Impact of Structure Changes in Business Sector on Aggregate Money Demand in China
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| 作者 | 王宇伟 范从来 |
| Author | Wang Yuwei and Fan Conglai |
| 作者单位 | 南京大学商学院经济学系 |
| Organization | Department of Economics, Nanjing University |
| 作者Email | wangyw@nju.edu.cn,fancl@nju.edu.cn |
| 中文关键词 | 企业货币需求 总量货币需求 企业部门结构变迁 动态面板分析 |
| Key Words | Firm’s Money Demand; Aggregate Money Demand; Structure Change in Business Sector; Dynamic Panel Data |
| 内容提要 | 本文构建了我国企业的货币需求函数模型，并利用中国上市公司数据对其进行了实证检验。结果显示，我国企业的货币持有行为存在明显的规模差异、地区差异、行业差异和所有制差异。随着转型期企业部门内不同类型企业的结构调整，这些差异对总量货币需求的变动有很强的解释力。也就是说，企业部门内结构变化是我国总量货币需求变动的重要原因之一。因此，人民银行在制定和实施货币政策时，应该充分关注不同类型企业的货币需求特征以及由此可能引发的货币政策效应，以提高货币政策的有效性和针对性。 |
| Abstract | This paper builds money demand function for Chinese firms and makes empirical test based on data of Chinese listed companies. The result shows that Chinese firms of different sizes, geographies, industries and ownerships have different money demand. All those factors have significant impact on total money demand during the transition period. That being said, internal structure change within Business sector is a critical reason for changing of China’s money demand. Therefore, when making and implementing monetary policy, People’s Bank of China should pay much attention to different money demand characteristics of different firms. |
| 文章编号 | WP405 |
| 登载时间 | 2013-01-25 |
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