一般經濟理論，往往忽略了與人類生活息息相關的「空間因素」（spatial factors or elements of space），卽使在區域經濟學的領域中，空間因素也僅視為經濟個體（individuals）的決策變數（decision variables）；至於已知（given）或外生（exogenous）的空間因素變動將如何影響經濟個體行為與總體體系，則乏人問津！事實上，空間因素之效率（efficiency）與否，非但影響實際支出，且將由於區域行程時間（travel time）之耗用，再透過每個個體所面對的時間限制式（time constraint），全面地影響經濟行為。

有鑑於此，本文乃全面地考慮外生的空間因素，從而建立具有較完整貨幣市場的個體基礎（microeconomic foundations），以推導空間性質幣需求理論（the theory of spatial demand for money）與總體模型；同時，利用空間因素在貨幣市場的顯著影響力，進行比較靜態分析。另外，我們引用台灣現有資料，對本文重心的「空間性貨幣需求理論」加以實證研究，以期理論實際相配合。

綜觀本論文重要結論有三：

(1)文中定義的「空間因素不效率程度」（the degree of spatial inefficiency）對勞動總需求、勞動總供給、實質商品總需求、實質商品總供給及實質貨幣需有均有負向之影響；在銀行區位（location）卽定下，貨幣供給不受影響。

(2)依台灣資料顯示，空間因素的三個衡量指標（indicators）中，人口密度對空間性貨幣需求函數而言，最具解釋力；人口密度每增加1%，實質貨幣需求將做超倍地（1.36%）躍昇。在分區資料分析時，空間因素之地位愈見重要，且顯示空間因素愈效率地區，對空間因素之反應愈為敏銳（卽實質貨幣需求的空間因素彈性愈大）。

(3)空間因素不效率程度提高，大致有壓抑實質工資率、利率及上揚物價的作用，這和擴張性貨幣政策之結果類似；至於期初實質資產增加，將可提高實質工資率與利率，但是對於物價之影響則不易確定。由於一種理論的初建，篳路藍縷，不無若干缺失。如何放鬆各項簡化假定、推衍模型及改良實證分析方法，將有待未來進一步地研究！

參考文獻

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AER : American Economic Review.

BPEA : Brookings Papers on Economic Activity.

EER : European Economic Review.

EJ : Economic Journal.

JF : Journal of Finance.

JMCB : Journal of Money, Credit and Banking.

JPF: Journal of Political Economics

JRS : Journal of Regional Science.

QJE : Quarterly Journal of Economics.

RES : Review of Economic Studies.

RE&ST : Review of Economics and Statistics.

SEJ : Southern Economic Journal.