Research On China's Monetary Policy Transmission Mechanism

Monetary policies are government's main macro-control means. Monetary transmission mechanism is the central content of monetary policy. It has direct relation with how monetary police influence the real economy. The Monetary Policy Transmission Mechanism whether unblocked related to the final object of the central bank. Hence, it is meaningful theoretically and practically to study on the monetary policy transmission.This paper is divided into five chapters'altogether. The first chapter is introductory remarks which introduce this topic research goal and significance, the literature summarize, the research technique as well as the innovation place; The second chapter under the premise that monetary policy is non-neutral, this article according to the different channel:the currency channel and the credit channel to elaborate monetary policy conduction mechanism elementary theory; The third chapter mainly introduces the practice of the transmission mechanism of Chinese monetary. And then use the VAR to check the monetary transmission mechanism in China. The fourth chapter separately analyzes the main flaw on the monetary policy each conduction way which in the current our country monetary policy conduction mechanism exists.Based on the above analysis, the authors put forward a sound transmission mechanism of monetary policy measures. It's including improving the transmission channels of monetary policy interest rate conditions; promoting capital market development, improving exchange rate mechanism; deepening the reform of commercial banks; improving the enterprise management system; a sound credit system, enhancing the independence of the central bank to reduce the leakage of monetary policy transmission, strengthen monetary policy and financial coordination.