资金流量分析方法的发展和应用

本文是关于资金流量分析的综述。文中对资金流量账户及其分析方法的产生和发展作了介绍,并对四种方法———将资金流量账户用作数据来源、部门和流动性分析、固定系数分析和基于资金流量的模型方法———的特征和局限性进行了讨论。对这种方法在金融各领域的最新发展作了介绍。资金流量方法作为一种介于宏观分析和微观分析之间的分析方法,对金融体系的分析具有独特的优越性,尤其对我国这样一个发展中国家而言,这种方法拥有不可忽视的前景。

A Survey of Flow-of-Funds Analysis

This paper provides a selective survey of the main issues surrounding the flow of funds: its meaning and origin, conceptual framework, and more particularly the key methods involved in financial analysis. On one hand, flow of funds accounts are essential raw material for any comprehensive analysis of capital market behavior, because they help to identify both the role of finance in the generation of income, savings and expenditure, and the influence of economic activity on financial markets. On the other hand, several methods like sector balances and liquidity analysis, the fixed technical coefficients approach and financial econometric models on flow of funds have been developed from their applications in the financial field. In the survey, the characteristics and the latest developments of every approach are introduced, in order to provide a start point of more applications in China.