摘要
电子货币的产生是货币形式的第二次标志性变革。它动摇了以中央银行为核心的银行货币创造体系,也对该体系下中央银行的传统职能造成了冲击。第一,电子货币的流通使用加剧了货币的竞争性发行,将进一步削弱中央银行的发行职能;第二,电子货币的出现将对中央银行的监管职能提出新的要求,并促使其加强对非银行金融机构的监管;第三,电于货币将影响货币供应量的可控性、可测性和相关性,使货币政策的中介目标更多地选择以利率为主。
The emergence of electronic currency is the second revolution in monetary history. It not only shakes the banking money creation system in which central bank plays a key role, but also challenges the traditional functions of the central bank in that system. First, gradual increasing circulation of the electronic currency will aggravate competition in monetary issue, then weaken the corresponding function of the central bank. Second, the expansion of electronic currency will set a still higher demand on central bank's supervisory level, and require a more strict supervision on non-banking financial institutions. Third, electronic currency will influence the controllability, measurability and relativity of the money supply, which will probably bring about a change in the medium target of monetary policy from money supply to interest rate.
出处
《中山大学学报（社会科学版）》
CSSCI
北大核心
2002年第4期126-131,137,共7页
Journal of Sun Yat-sen University(Social Science Edition)
