發(fā)布時(shí)間：2018-05-21 03:33

  本文選題：歐元區(qū) + 量化寬松政策　； 參考：《經(jīng)濟(jì)縱橫》2015年04期

【摘要】：歐元區(qū)量化寬松政策的出臺(tái)具有一定的必然性。歐元區(qū)經(jīng)濟(jì)復(fù)蘇不力、就業(yè)市場(chǎng)疲軟和財(cái)政整固等使歐元區(qū)逐步面臨通貨緊縮的風(fēng)險(xiǎn),歐洲議會(huì)和希臘大選等政治事件使歐元區(qū)面臨一定的分裂風(fēng)險(xiǎn),拯救歐元具有經(jīng)濟(jì)和政治意義。歐元區(qū)量化寬松政策是一個(gè)涉及政策制定、執(zhí)行、關(guān)鍵環(huán)節(jié)、工具及風(fēng)險(xiǎn)管控等的綜合體系,預(yù)計(jì)到2016年9月歐洲央行將購(gòu)買超過(guò)1萬(wàn)億歐元的債券。歐元區(qū)量化寬松政策的實(shí)施整體有利于歐元區(qū)經(jīng)濟(jì)復(fù)蘇和全球經(jīng)濟(jì)增長(zhǎng),但中長(zhǎng)期而言,受制于歐洲聯(lián)合的體制機(jī)制制約,歐元區(qū)量化寬松政策的效力可能有限。歐元區(qū)量化寬松政策將給全球經(jīng)濟(jì)格局、資金流動(dòng)、匯率變化、貿(mào)易投資及大宗商品市場(chǎng)等帶來(lái)極大的不確定性,也會(huì)使中國(guó)面臨更加復(fù)雜的外部環(huán)境,貿(mào)易、匯率、資本流動(dòng)等面臨重大的風(fēng)險(xiǎn)。
[Abstract]:The introduction of quantitative easing in the euro zone has certain inevitability. The weak economic recovery in the euro zone, the weak job market and fiscal consolidation have gradually exposed the euro zone to the risk of deflation. Political events such as the European Parliament and the Greek election have put the euro zone at a certain risk of fragmentation. Saving the euro has economic and political implications. The euro zone's quantitative easing, a comprehensive system of policymaking, implementation, key links, tools and risk management, is expected to buy more than 1 trillion euros of bonds by September 2016. The implementation of quantitative easing in the euro zone as a whole is conducive to the recovery of the euro zone and global growth, but in the medium to long term, the effectiveness of quantitative easing in the euro zone may be limited by the constraints of a joint European institutional mechanism. The policy of quantitative easing in the euro zone will bring great uncertainty to the global economic structure, capital flows, exchange rate changes, trade and investment, and commodity markets. It will also make China face a more complex external environment, trade, exchange rate, etc. Capital flows and so on face major risks.
【作者單位】： 中國(guó)社會(huì)科學(xué)院金融研究所;
【基金】：國(guó)家社科基金重點(diǎn)項(xiàng)目“我國(guó)金融體系的系統(tǒng)性風(fēng)險(xiǎn)與金融監(jiān)管改革研究”(編號(hào):13AJY018);國(guó)家社科基金青年項(xiàng)目“西方國(guó)家金融危機(jī)與制度弊端分析研究”(編號(hào):14CJL017) 中國(guó)社會(huì)科學(xué)院金融研究所重點(diǎn)課題“債務(wù)危機(jī)演進(jìn)機(jī)制研究”的成果
【分類號(hào)】：F825

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