【摘要】 流动性过剩问题是当前宏观经济调控最大的挑战之一，给宏观经济带来严重的危害，已经引起了上至中央高层下至黎民百姓的共同关注和警觉。消除过剩的流动性成为了时下中国经济运行过程中必须破解的重大现实课题。本文首先明晰流动性过剩的内涵、表现形式和对我国国民经济的影响；其次，从外部因素和内在因素两个方面来分析我国流动性过剩产生的主要原因；最后，就货币政策的五种常用工具，即汇率政策、准备金率政策、公开市场操作、贴现率政策及利率政策，探讨了化解我国流动性过剩的货币政策选择。
【关键词】 流动性过剩 货币政策 化解对策
[Abstract] Excess liquidity is one of the greatest challenges in the present macroeconomic regulation and control. It brings serious danger to macroeconomic and has attached the attention and awareness of the government and people. Eliminating excess liquidity becomes a very important task which must be solved in the operation of Chinese economy. In this text, firstly, it makes clear the meaning of excess liquidity, performance forms and the influences in Chinese national economy. Secondly, it analyzes the main reasons of excess liquidity from internal and external factors. Lastly, it discusses how to deal with the problem of excess liquidity from the monetary policy which includes exchange rate policy, reserve rate policy, market overt operation, discount rate policy and interest rate policy.
[Key words] Excess Liquidity Monetary Policy Solution
目 录
引言……………………………………………………………………………………………1
一、目前我国流动性过剩概述………………………………………………………………1
（一）流动性过剩的内涵……………………………………………………………………1
（二）目前我国流动性过剩的表现…………………………………………………………1
（三）我国流动性过剩对国民经济发展的影响……………………………………………2
二、我国当前流动性过剩的成因……………………………………………………………4
（一）国际资本流入是形成过剩的外部因素………………………………………………4
（二）国内货币政策失效和贸易政策导向是形成过剩的内在因素………………………5
三、化解我国流动性过剩的货币政策选择…………………………………………………6
（一）深化外汇管理体制改革………………………………………………………………6
（二）灵活操作公开市场……………………………………………………………………7
（三）利用准备金政策控制信贷规模………………………………………………………8
（四）合理发挥利率杠杆调节作用…………………………………………………………9
（五）再贴现率政策的运用…………………………………………………………………9
结论 …………………………………………………………………………………………10
致谢语 ………………………………………………………………………………………11
参考文献 ……………………………………………………………………………………12
