财政政策与货币政策有效性实证分析

从2003年下半年开始,物价水平持续上升,中国凸现通货膨胀迹象。经济发展过热,特别是固定资产投资恶性扩张,成为当前中国经济最突出的问题。为遏制投资过热,中国政府采取财政政策和货币政策来调整投资规模,本文运用协整检验和误差修正模型分析两个经济政策在调节固定资产投资规模上的有效性,为合理使用这两种政策提供理论和实证依据。

Substantial Analysis on Validity of Financial Policy and Monetary Policy

Since the second half of 2003, price-level has risen continuously, it shows the inflation sign especially in China. Economic development is overheated, especially the malignant investment in fixed assets is expanded, becomes the present most outstanding problem. In order to contain investment over heatedly, government adopts the financial policy and monetary policy to adjust the scale of investment, This text uses co - integration test and error correction model analyses the validity of two economic policies in regulating the investment scale of fixed assets, offer the theory and substantial basis for using these two kinds of policies rationally.