外汇储备超常增长下的财政政策选择

2001年以来,我国外汇储备加速增长,到2006年10月份突破1万亿美元,成为世界第一大外汇储备国.巨额外汇储备造成了外汇占款激增,增加了基础货币投放,致使当前我国通货膨胀压力加大,进一步削弱了货币政策独立性和有效性.为此,文章提出利用适度扩张的财政政策,即通过政府发行长期债券的方式吸纳多余的外汇储备,扩大内需,调节经济内外平衡.

The Choice of Fiscal Policy in the Transnormally Increasing Foreign Reserve

Since 2001,Our foreign reserve has been accelerating.We had one thousand billion dollars in October,2006 and became the largest reserve country.The substantive reserve leaded to potential money supply proliferating and increased based currency,which aggregated our current inflation pressure and weakened independency and validity of money policy.So we bring forward making use of active fiscal policy,that is,by the long-term public debt to absorb excrescent foreign reserves to enlarge domestic demand and adju...