Study On The Validity Of The Credit Transmission Mechanism Our Country Monetary Policy

The credit transmission mechanism of monetary policy has decisive influence on the validity of the monetary policy. The paper studies the validity of the credit transmission mechanism. On the basis of domestic, foreign scholar's study, the paper studies the subject from central bank's management system, macro economy, macro finance environment and the structure of the micro bank. According to the data in recent years, the paper studies the subject. At the last, the paper analyses the reason of the low efficiency of the mechanism and gives suggestion.The paper is made up of 7 sections. In the preface, we give the meaning for selecting the question. It expounds theoretical foundation, research approach, the research structure of the paper and main conclusion.In the first chapter, the paper reviews the foreign learners' and the domestic learners' study on the question. At the same time, the paper describes the definition of credit transmission. The chapter reviews bank credit conduct channel especially. It establishes theoretical foundation for the research of the following chapter.The second chapter studies China macro economy and financial environment influencing the credit transmission mechanism. (1) It analyses the influence of the direct regulation and indirect regulation of central bank's management system. (2) It analyses that the developments of China money market benefits the credit transmission mechanism. (3) It studies that the development of the assets market has positive and negative influence on the validity of the credit transmission mechanism. (4) It analyses that the uneven development of our regional economy and finance does not benefit the credit transmission mechanism.The third chapter studies the micro bank structure influencing the credit transmission mechanism. (1) The concentration of bank does not benefit the credit transmission mechanism. (2) The non-performing-assets of state-owned commercial banks don't benefit the validity of the credit conduct mechanism. (3) The structure of the finance institution credit capital influencing the credit conduct mechanism. (4) The credit ration of the bank does not benefit the development of the private economy of our country.The fourth chapter studies the validity of China's credit conduct mechanism by means of statistics methods. It certifies that the credit conduct mechanism is the main channel at the present.The fifth chapter analyses the reason that the efficiency of China's credit conduct mechanism is low. At the same time, it puts forward suggestion in order to improve the validity of our credit conduct mechanism.The sixth chapter is the main conclusion.