中国实行通货膨胀目标制的可行性分析

通货膨胀目标制是一种以保持低而稳定的通货膨胀为首要目标的货币政策框架。本研究参照IMF提出的相关指标,并考虑到中国作为转型国家的经济特征,从中国当前经济运行中控制一般物价水平的必要性、经济结构的完善性、金融市场和银行体系的健全性、中央银行的独立性、货币政策的透明度以及央行准确预测通货膨胀的技术等方面考察了中国实行通货膨胀目标制的可行性,得出中国已经初步具备实施该货币制度的条件。并提出更彻底的制度改革将会确保中国成功实施通货膨胀目标制,从而使得宏观经济运行处于稳定的价格水平因而更有效率。

The Analysis of the Feasibility of Adapting Inflation Targeting as a Main Monetary Policy in China

Inflation targeting is a monetary policy frame which aims at maintaining lower and stable inflation rate. According to the IMF standard, as well as considering China＆#39;s emerging economy characteristic, explores the feasibility to conduct Inflation Targeting in China through analyzing the necessity of controlling the general price level , the integrity of adjusting the economy structure, the integrity of the financial market and banking systems, the independence of central bank, the open degree of the monetary policy as well as the technics of the central bank predicting the inflation correctly , drew a conclusion that it is feasible for China to carry out a monetary policy of inflation targeting basically. Further policy reformation would be essential for conducting Inflation targeting successfully in China, which would keep the macro-economy going at a stable price level.