新疆财经

新疆财经 ›› 2018,Issue (4): 66-72.doi: 10.16716/j.cnki.65-1030/f.2018.04.008

• 中亚经济研究 • 上一篇    下一篇

新货币政策框架下哈萨克斯坦央行政策对其货币化程度的影响

南楠1, 张文中2   

  1. 1.新疆财经大学中亚经贸研究院,新疆乌鲁木齐 830012;
    2.新疆财经大学金融学院,新疆乌鲁木齐 830012
  • 收稿日期:2018-03-26 出版日期:2018-08-25 发布日期:2020-11-27
  • 作者简介:南楠(1989-),女,博士研究生,研究方向:中亚金融;张文中(1963-),男,教授,博士生导师,新疆维吾尔自治区人民政府专家顾问团财政金融顾问、中国人民银行货币政策咨询专家,研究方向:区域金融、资本市场、中亚金融。
  • 基金资助:
    新疆维吾尔自治区人民政府专家顾问团项目“丝绸之路经济带建设的多元化金融支持研究”;新疆财经大学研究生科研创新项目“哈萨克斯坦货币政策的目标选择与货币化程度研究”(XJUFE2017B009)

The Influence of NBK’s Policy on Currency Degree under the Framework of New Monetary Policy

Nan Nan, Zhang Wenzhong   

  1. Xinjiang Agricultural University,Urumqi 830052,China
  • Received:2018-03-26 Online:2018-08-25 Published:2020-11-27

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摘要： 2014年,哈萨克斯坦央行开始了货币政策框架的转型,同时美联储逐步退出量化宽松,这时考验的是发展中国家央行调整货币政策并与具体国情相匹配的能力。哈国所面临的是降低国内通货膨胀与提高金融深化程度并举的国情。在这样的背景下,本文分析并解释了哈萨克斯坦在通货膨胀目标制、传导机制及其他央行重要政策对该国货币化程度的影响,研究发现:第一,哈萨克斯坦的货币化进程缓慢与其央行的政策密切相关;第二,哈萨克斯坦的货币政策转型会延缓该国的经济货币化进程;第三,哈萨克斯坦货币政策目标与新货币政策框架及其传导机制的部分设定在一定程度上抑制了该国货币化进程的发展。

关键词: 通货膨胀目标制, 传导机制, 哈萨克斯坦, 货币化程度

Abstract: In 2014,the central bank of kazakhstan began to transform its monetary policy framework and the federal reserve gradually withdrew from quantitative easing,which tested the ability of the central Banks of developing countries to adjust their monetary policies and match the specific national conditions.Kazakhstan is faced with both lowering domestic inflation and enhancing the degree of financial deepening.In this context,this paper analyzes and explains the impact of Kazakhstan’s inflation targeting,the transmission mechanism,and other important policy on currency degree.Through the research found that:first,the slow process of Kazakhstan’s monetization closely related with the central bank’s policy;second,the transformation of Kazakhstan’s monetary policy will delay the process of economic monetization;Third,the setting of the monetary policy objectives and the new monetary policy framework and its transmission mechanism in Kazakhstan has inhibited the development of the country’s monetization process to some extent.

Key words: Inflation Targeting, Transmission Mechanism, Kazakhstan, Currency Degree

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