论文部分内容阅读
在第八届APEC财长会召开之际,财政部部长项怀诚针对部分国内外人士对我国实施积极财政政策会对民间投资产生挤出效应这一观点指出,这一政策没有产生挤出效应。 第一,增发国债对利率的影响。由于中国尚未实行名义利率的市场化,积极财政政策不会影响名义利率的升降。实际利率的上升主要是因为物价水平下降,而中央银行没有及时随物价变动调整名义利率所致。进一步看,价格水平下降也不是财
On the occasion of the 8th APEC Finance Ministers’ Meeting, Minister of Finance Xiang Huai-cheng pointed out that some domestic and foreign individuals have exerted a crowding-out effect on private investment by implementing a positive fiscal policy in our country and have pointed out that this policy has not had a crowding-out effect . First, the issue of additional national debt on the interest rate. As China has not yet implemented the marketization of nominal interest rates, the proactive fiscal policy will not affect the nominal interest rate movements. The increase in real interest rates was mainly due to a drop in the price level, which was not promptly adjusted by the central bank in response to price changes. Looking further, the price level is not a decline in money