利率市场化对宏观经济的影响是当前全面深化改革理论和实践重点关注的领域。既有研究多论及利率市场化对经济增长的影响,而利率市场化与经济增长质量的相关性,还是一个亟待深入探讨和研究的新方向。本文立足于当前中国利率市场化的实际情况,拟从三个方面对利率市场化进行衡量,建立利率市场化总指数;并选取10个指标尝试从三大维度对中国经济增长质量进行综合衡量,采用实证分析方法揭示出利率市场化与经济增长质量之间的内在关联与作用机理,为利率市场化对我国经济增长质量的影响提供一个新的解释思路。进一步地,基于利率市场化对我国经济增长质量影响的传导路径提出了相关政策导向性建议。
Impacts of the interest rate marketization on macroeconomic is a field which the current comprehensively deepening reform innovation theory and practice focus on. Most existing literature is focusing on impacts of the interest rate marketization on economic growth, but the correlation of the interest rate marketization and the economic growth quality is a new direction to be in-depth discussion and research. In this paper, we try to measure the interest rate marketization on three aspects to form the index depending on the actual situation of China' s current interest rate marketization; And try to select ten indicators from three dimensions to measure the China' s economic growth quality comprehensively.We adopt the method of empirical analysis to reveal the inherent relations and the function mechanism among the interest rate marketization and economic growth quality, and provide a new explanation the interest rate marketization effects on China' s economic growth quality. Finally, this paper presents the guidance advice of relevant policy.