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利率市场化的经济分析可以从微观和宏观两个角度进行考虑:从微观上来看,资金作为社会生产要素之一,要实现生产最优化,就要对资金资源进行合理配置。固定利率管理体制下,资金分配具有计划性,并带有一定的条块分割性。由于缺乏完善的市场机制,资金难以合理地从效率低的部门流向效率高的部门。利率市场化的目标正是要促进资金的合理流动,提高资金需求的利率弹性,以使得利率的政策调整的通道畅通,引导资金流动合理化、效益化,促进社会生产收益的最大化。
The economic analysis of interest rate marketization can be considered from the micro and macro perspectives: From a microcosmic point of view, as one of the social production factors, funds must be allocated rationally to achieve optimal production. Under the fixed interest rate management system, the allocation of funds is planned and has some segmentation. Lack of sound market mechanisms makes it difficult to rationalize the flow of funds from inefficient sectors to more efficient ones. The goal of marketization of interest rates is precisely to promote the rational flow of funds and increase the interest rate flexibility of capital needs so as to make the channel for policy adjustment of interest rates smooth and guide the flow of funds to be rationalized and profit-oriented so as to maximize the benefits of social production.