摘要
本文首先从理论上考察信贷与资产价格之间的关系,利用Allen和Gale的资产价格泡沫模型,并根据我国实际情况,通过放松假设条件说明信贷扩张是资产价格上涨的重要原因,资产供给、信贷政策、银行信贷管理能力会影响资产价格的上涨。通过对我国经济的实证研究发现,我国的信贷与资产价格之间存在相关关系,最后指出从资产供给、信贷政策、银行信贷管理等方面入手制定政策抑制资产价格的进一步上涨。
The paper will examine firstly the relationship between the credit and asset prices,Using Allen and Gale’s asset price bubble model and considering the actual situation in China,It will tell us the credit expansion is an important reason to the rising of asset prices by relaxing the assumptions and Asset supply,Credit policy,The capacity of bank credit management can affect asset prices.Through empirical research on the Chinese economy,We find that correlation is existence between the credit and asset prices,At last,we propose controlling the asset prices by Asset supply,Credit policy And capacity of bank credit management.
出处
《海南金融》
2010年第6期8-11,共4页
Hainan Finance
