Kufufuma kutsata - ndi chiyani ichi? Policy wa kufufuma kutsata

Kufufuma ndi kuwonjezeka ambiri mu mitengo. Kuyeza mlingo wake mlingo wa kusintha ntchito ponena za mtengo index nyengo m'munsi.

Gawo

Kufufuma ndi mitundu iwiri. Choyamba ndi chifukwa kuwonjezeka kufunika kwa katundu. Choncho, umatchedwa kufunika kufufuma. Pankhaniyi, kwa mankhwala ena ogula ndi okonzeka kulipira kwambiri. Mu dongosolo ili zachuma wofuna ina, amene ali mwa mphamvu kupanga. Companies Choncho, malinga kapena kuwuka mu mtengo wa katundu, kapena pofuna kumasulidwa ake. amapereka Ochirikiza limapezeka pa kufunika ndi zonse. Mitengo mankhwala ndi kuchuluka mu nkhani iyi, chifukwa ndalama ukuwonjezeka (kumawonjezera mtengo wa katundu). Popeza kampani sangathe kugulitsa katundu wake patsikulo, iwo amakakamizidwa kuonjezera mtengo wake. Malinga ndi lamulo la okwanira ndi anthu, mu nkhani ya kukula mtengo wa chiwerengero cha mayunitsi anagulitsa utachepa. Ngati boma si njira iliyonse okwanira, mavuto kumayambira chuma.

The kusintha kwa kufufuma kutsata

M'mayiko ambiri olemera, nyamuka chonse mitengo ndi apakhungu vuto umoyo ndi zachuma. Kufufuma - si kuwonjezeka mu mitengo ya zinthu. Zimadzetsa ku depreciation ndalama, likulu ndege mu malo, zitsulo zamtengo wapatali ndi chuma yachilendo, kuchepetsa wa chikoka ndalama. Zimenezi, kubweza kukula zachuma, yaitali mapulani kovuta, kumaonjezera mavuto mudziko lonse. Panopa, m'mayiko ambiri ntchito mitengo kuwombola ndi aggregates ndalama monga mipherezero wapakatikati cha pulogalamu zachuma ngongole. Koma nineties ndi mayiko ambiri unachoka mwambo uwu. Akatswiri ena amakhulupirira kuti ndalama-ngongole pulogalamu ya mayiko ena akhoza kumlingo ndizodabwitsa monga kufufuma kutsata. Mwachitsanzo, a zachuma wotchuka John. Taylor amakhulupirira kuti United States zachokera za wazotsatira Njira. Malinga ndi lamulo limeneli, ndi Federal Reserve System nthawi amachita kusintha kwa chiwongola dzanja pa ndalama. Choncho sagwirizana ndi kupatuka pa nkhani mkati mwa linanena bungwe kuthekera ndi kufufuma - kuchokera Mapa chithunzi. Mayiko ena makamaka osankhidwa njira imeneyi. Mosakayikira, pali ubwino ndi kuipa kwa kufufuma kutsata. Koma m'mayiko amenewa kukwaniritsa mlingo khola la mitengo chinthu chofunika kuti zipangitsa kukula.

Policy wa kufufuma kutsata

Monga mmene kumapeto, zoyesayesa zonse zolinga zina za bata chuma (zikule kupanga ndi ntchito apamwamba) itsutsana ndi wosasunthika mtengo. M'njira imeneyi dziko anayamba likuoneka kufufuma, magombe chapakati amakonda kuyamba kulera chiwongola dzanja, ntchito kufufuma kutsata. Ndithudi kwambiri wosakhutira, makamaka kwa zisudzo zinakhalira mu chuma chenicheni. Njira imeneyi Komabe, kumathandiza nkhondo zinthu. Ichi ndi chifukwa chakuti monga cholinga chachikulu cha pulogalamu zachuma ngongole zikuoneka yotithandiza mlingo mkulu kukula ntchito kapena kupanga momwe munakonzera, "mapangidwe" kufufuma. Komanso, zochokera njira imeneyi akhoza njira chokwanira kuyankha pamaso pa isanayambike mavutowo.

njira

Kodi kufufuma kutsata? Banki chapakati limaneneratu mphamvu ankayembekezera kukula mtengo ndipo akuyerekeza ndi chandamale, chimene chiri anakhumba kuti apindule. Kusiyana chifukwa zikusonyeza ukulu wa kusintha kofunika mapulogalamu chuma ndi ngongole. Chifukwa cha zimenezi, anapereka anakonza mlingo kufufuma. Akuluakulu amagwiritsa ntchito njira zonse kuwafika chithunzi ichi. States kuti ntchito njira imeneyi amakhulupirira kuti timapitiriza mphamvu ya mfundo ndalama poyerekeza ndi njira muyezo.

amafuna koyamba

Pali zinthu ziwiri zimene ziyenera kukwaniritsidwa kuti litsatira kufufuma kutsata. Ali:

1. A digiri okwanira ufulu wa Bank ku Central ku boma. The bungwe ndalama akhale ndi ufulu wosankha zipangizo ndi chimene akuyenera kufika chandamale mlingo.
2. Ndi kukana kwa akuluakulu kutsata zizindikiro zina zachuma. Zikuphatikizapo, makamaka, malipiro, mlingo kuwombola kapena mlingo wa ntchito.

anafotokoza

Kukwaniritsa chikhalidwe choyamba, tiyenera kusiya "zachuma ulamuliro". Izi zikutanthauza kuti dongosolo la zachuma ayenera ziribe mphamvu pa chuma ndi ngongole. Pa Kulipira ya ulamuliro zachuma chikuyembekezeka otsika kwambiri kapena mlingo ziro wa ngongole boma ku banki chapakati, komanso chitukuko okwanira zoweta msika ndalama. Yotsirizira ndi koyenera kuti mayamwidwe nkhani zina udindo boma. Komanso boma ayenera zikuluzikulu ndalama m'munsi. Pokhalabe ndi ulamuliro zachuma a dongosolo msonkho zingakudzutsireni kufufuma mavuto. Zimenezi, kuchepetsa mphamvu ya mapulogalamu chuma ndi ngongole. Koma chikhalidwe chachiwiri, kuti ngati dziko ndi kuchita amodzi-mlingo mitengo malamulo, mkulu sayenda likulu mayiko iwo sadzakhala ayenera kugwiritsa ntchito munthawi yomweyo kufufuma kutsata. Amakhudza msika ophunzira amene sadzadziwa zolinga zingapo Boma adzakupatsani zokonda pa nkhani ya kuwonongeka kwa zinthu. Mwachitsanzo, ngati pali kuthekera wa bata ndalama, Bank ku Central adzakhala ndi kusankha: kupitiriza mlingo amodzi napereka, choncho chandamale kufufuma, kapena kukhala mlingo anakonza, koma nsembe maphunzirowa.

kanthu Kusonkhezeredwa

Ntchito yaikulu kuti ndi zofunika kuchita wogwira mtima kufufuma kutsata, ndi:

1. Development wa njira ndi kuneneratu chitsanzo.
2. Kukhazikitsidwa kwa zizindikiro kachulukidwe wa kufufuma mu nthawi kubwera.
3. Chitsimikizo cha ophunzira msika kuti zolinga ndi mwamsanga kuposa ena.
4. Kusankha ndi zida zoyenera ndalama. Pamodzi ndi kuchepetsedwa kwa mlingo Napempha kwa kufufuma.
5. Kukhazikitsidwa kwa prerequisites nchito ndi luso kwa kulosera ndi kumutsatira wa mitengo mkati.
6. Khama la nthawi kwanthawi pakati kumayambiriro zida la ndalama ndi nthawi ya imakhudzira kufufuma.
7. Investigation mtima kwa zida payekha.

Khama la chandamale zimasonyezanso:

1. Sankhani mtundu wa mtengo index.
2. Mapangidwe mavuto mawu a mlingo kufufuma kapena mlingo mtengo.
3. The mawerengedwe a mphamvu za kuwonjezeka m'tsogolo.
4. Mipherezero chiphunzitso monga fluctuation osiyanasiyana kapena mtengo mfundo.
5. Kusungitsa zotheka zolakwika pa mipherezero kapena kukana miyeso yolinganizira mu chochitika cha zochitika zapadera.

The vuto latsopano la Russia

Chibwenzi, akatswiri amakhulupirira kuti banki chapakati chimatsatira "kukakwera-mmwamba njira", umene ankafuna kuti kusintha Russia kuti kufufuma kutsata. Makamaka, kusodza Malangizo ndi pulogalamu ya zachuma ngongole kwa 2013-2015. izo ananena kuti zaka zitatu adzakhala anakhalabe mfundo kupitiriza ntchito. Ndi 2015, izo anakonza kukhazikitsa ulamuliro wa kufufuma kutsata mu dziko. polojekiti ananenanso kuti, chifukwa cha kuipidwa kwa njira umalimbana chikusintha zida dongosolo, kuwonjezera kusinthasintha kwa ruble wakhala akwaniritsa ulamuliro chiwongola dzanja panopa. Komabe, kuti makinawa yagwiritsa ntchito CBA, yokwanira kuonetsetsa kukhazikika mu chuma.

mavuto

Kufufuma kutsata ku Russia angaletsedwe angapo zinthu zofunika. Monga miyeso mwachizolowezi mu njira imeneyi ndi miyeso kuchepetsa ndalama bajeti, kumanga chilango chuma, kuchepetsa voliyumu ya ngongole kwa mabanki malonda. Izi zinagwira zochitika negative. Makamaka, yafupika kukongoza ku mabanki gawo mafakitale, liquidity akugwa, ogula ndi kufunika ndalama, ayimitsa kukula kwa ndalama. Mlingo kufufuma anatsimikiza ndi ntchito, mphamvu, umene uli pafupi zosatheka kulosera. Chotero zosintha ndalama zikuphatikizapo monopolization a msika mkati, vutoli m'misika lonse, makamaka msika mphamvu. Liwiro mlingo wa kufufuma ndi kuchepetsa yobweretsa ndalama zingachititse dontho zinanso liquidity. Zimenezi chifukwa cha mavuto kwambiri gawo la kubanki. Popeza kufufuma mu Russia makamaka kunja, amadwala chidwi sadzakhala kukhudzanso pa mtengo wa chimasanduka. Padakali dziko alibe anatengedwa miyeso umalimbana kuchepetsa zotsatira za mitengo mayiko pa zoweta, yotsirizira udzakhala wautali itatha yoyamba. Njira chikhalidwe ndi kutsata ndi kuwonjezeka chiwongola dzanja la Bank wa Central. muyeso zimenezi kungathandize kuchepetsa kufunika akaphatikiza. Nayenso msanga chuma kukwera mtengo kwa angapo katundu, makamaka sanali tradable. Komabe, zimenezi sangathe kubweretsa kufufuma kwa zizindikiro anakonza.

njira zothetsera

Popeza structural ndi akulimbana ndalama pulogalamu zamakono kusintha amanenera akatswiri monga regressive chuma cha dziko. Iwo amati, malinga ndi akatswiri mu kudzitsitsa mwachilungamo mofulumira kapangidwe chuma dongosolo. The m'mbuyo pang'ono lalikulu kwambiri anakhudza mafakitale masiku ano amene achita "mpukutu kumbuyo" zaka 15-20 zapitazo. Izi zikutanthauza kuti kutsata mu malo oyamba ayenera kupita osati kufufuma ndi kukula chuma. Mu gawo weniweni ali depreciation amphamvu chuma lokhazikika. Kuti imathandizira Mokweza awo Pakufunika ndalama yaikulu. Funafunani likulu mu makampani 'ndalama zokha sizitheka. Mu zinthu ziliri pa ulimi simungakhoze kuchita popanda ngongole.