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篇目详细内容 |
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【篇名】 |
Property-rights, financial stabilization policies, and central bank independence |
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【刊名】 |
Frontiers of Economics in China |
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【刊名缩写】 |
Front. Econ. China |
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【ISSN】 |
1673-3444 |
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【EISSN】 |
1673-3568 |
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【DOI】 |
10.1007/s11459-008-0002-z |
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【出版社】 |
Higher Education Press and Springer-Verlag |
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【出版年】 |
2008 |
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【卷期】 |
3
卷1期 |
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【页码】 |
24-34
页,共
11
页 |
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【作者】 |
HUANG Shao’an;
HE Kun;
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【关键词】 |
capital injecting; reloaning; property-rights; central bank independence |
【摘要】 |
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This paper builds a micro-behavior model of central bank and financial institutions from the perspective of property-rights. By analyzing the theoretical model and the practice, we conclude that, in the framework of the present financial stabilization policies in China, the central bank’s functions of monetary policy and financial stabilization are enslaved to financial institutions. Thus, central bank independence has been damaged because of the actual property-right relation between the central bank and the financial institutions. The policy implication is to cut off the property-right relation between the central bank and the financial institutions. |
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