中文摘要：

本文以我国2004-2014年间11个上市航运企业面板为样本,分析了货币政策在航运业中的金融加速器效应。在验证了航运业存在企业层面金融加速器效应的同时,通过引入2008年金融危机时间虚拟变量,证实了航运产业金融加速器效应的非线性性,得出经济环境下行时期,货币政策的金融加速器效应将会放大。本文的政策含义是,我国在利用货币金融政策促进航运业发展时,必须得考虑航运产业的金融加速器效应及其非线性性。

英文摘要：

On the basis of 11 listed marine companies panel data during 2004-2014, this paper made an empirical analysis about the financial accelerator effect of monetary policy on China marine transportation industry. Not only did we prove the existence of financial accelerator effect in marine transportation industry but also found out the nonlinearity of this effect with the utilization of time dummy variable of 2008＇s Global Financial Crisis, which indicates the amplification of the financial accelerator effect along with the degradation of global economy. According to the research, the financial accelerator effect and its nonlinearity should be taken into consideration when government carries out financial and monetary policies for marine transportation industry.