서지주요정보
통화신용정책에 대한 비은행금융기관의 영향 = The effects of non-bank financial institutions on monetary policy
서명 / 저자 통화신용정책에 대한 비은행금융기관의 영향 = The effects of non-bank financial institutions on monetary policy / 한재호.
발행사항 [서울 : 한국과학기술원, 1986].
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4103974

소장위치/청구기호

학술문화관(문화관) 보존서고

MMGS 8632

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In Korea, the rapid growth of liabilities of non-bank financial institutions in recent decades has stimulated the necessity of study concerning the substitutability of such liabilities for money. The reason for this necessity is that the degree of substitutability between the two will have an important impact upon the financial aspects of long-run economic development as well as significant implications for monetary theory and policy. The purpose of this study is to investigate the influences of non-bank financial institution on the traditional monetary policy. The important question raised by the Gurley - Shaw thesis is whether the liabilities of financial intermediaries are such close substitutions for bank deposits of other financial claims backed by only a small fractional reserve of money -- in short, whether financial intermediaries substantially increase the interest-elasticity of demand for money. In this respect, regression analysis is implemented to test the Substitution Hypothesis using quarterly time-series data from 1965 to 1984 for Korean financial market. The main result is that the Gurley-Shaw hypothesis is weakly supported, even if the degree of substitutability between liabilities of non-bank financial institution and money is appeared very large. And so it doesn't seems that the rapid growth of non-bank financial institutions has serious influences on monetary policy. But, because monetary policy is influenced by non-bank financial institutions and the trend of financial deepening is incresing, it must be considered that financial control, as the successor to monetary control, would regulate creation of financial assets in all forms that are competitive with direct securities in spending units' portfolios.

서지기타정보

서지기타정보
청구기호 {MMGS 8632
형태사항 iv, 67 p. : 삽도 ; 26 cm
언어 한국어
일반주기 저자명의 영문표기 : Jae-Ho Han
지도교수의 한글표기 : 노공균
지도교수의 영문표기 : Kong-Kyun Ro
학위논문 학위논문(석사) - 한국과학기술원 : 경영과학과,
서지주기 참고문헌 수록
주제 Monetary policty.
Financial institutions.
금융 기관. --과학기술용어시소러스
포트폴리오. --과학기술용어시소러스
재정 상태. --과학기술용어시소러스
Portfolio management.
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