美国量化宽松政策对中国宏观经济的影响..docx

辅修双学位美国量化宽松政策对中国宏观经济的影响The Influence of the US Quantiative Easying Monetary Policy on China’s Macroeconomic2015年 3 月 15 日摘 要 2007年美国爆发金融危机，为稳定国内金融市场，美国实施了四轮量化宽松政策。由于美元是国际计价货币和主要的支付手段，而中国又是世界第二经济体。故美国的量化宽松政策势必会对中国经济产生影响。本文通过分析图表数据，探讨美国量化宽松政策对中国宏观经济所产生的影响，并提出对策建议。首先，本文在阐述了量化宽松政策的概念和特点，以及量化宽松政策的传导机制。其次，详细的分析了美国的量化宽松政策产生的背景、深层次原因、内容、特点。然后，阐述了量化宽松政策的溢出机制和传导渠道。最后通过分析2001年到2013年我国利率、汇率、贸易与服务项目、资本与金融账户、经济增长率、通货膨胀、失业率等数据的变化，得出美国量化宽松政策会抑制我国净出口额增长，促进国际资本流入我国套取利率和汇率不均衡的收益，限制我国经济发展速度，加大我国的通货膨胀率，升高我国的失业率。最后针对我国面临的问题，提出一些建议，如：扩大内需，促进出口地区多样化；优化出口结构，加速贸易的转型升级；积推进人民币国际化进程；争取大宗商品定价权，削弱输入性通货膨胀；加强对国际流动资本的监管；加强对外汇占款的管理。关键词：量化宽松；国际收支；经济增长；通货膨胀；失业率ABSTRACT After the outbreak of the financial crisis in 2007, the economy of many countries took a hit. In order to stabilize the financial markets and stimulate the sluggish economy, The United States have implemented a round of quantitative easying since 2008. As the dollar is the international currency and a major means of payment, and China is the worlds second-largest economy. Therefore, Americas quantitative easing is bound to affect Chinas economy In this paper , by the analysis of the chart date, focusing on the influence of the quantitative easying policy on China’s macroeconomic, we put forward counter measures and suggestions. At first the article expounds the function of the “quantitative easying” policy theory, and analyzes the differences between the quantitative easying policy and traditional monetary , as well as the quantitative easying policy transfer mechanism. Secondly, analyzing the detailed the background, deep reason, content, characteristics of the America’s quantitative easying policy. Finally, by analysing changing of the interest rate, exchange rate, current account, capital and financial account, the rate of economic growth, inflation and unemployment from 2001 to 2013,we draw a conclusion that US the quantitative easying policy will curb China’s net exports, promote international capital flowing into china to obtain