| Because money is the heart of fianace , research on monetary policy has always been a renewing topic. However, monetary policy is an overall regulated concept,It is esay to be over looked the possible difference according to its transition and implementation through different regions. As an economic power during the transition period,china's regional ecnonmy and fianace has different level of development.When impelementing a unified monetary policy in specify of all areas,it may has different effect of different regions and unbenifit for coordinated development of various regional economies.In this paper,based on national and international basis,we use the method of theoretical analysis and empirical analysis. First of all, the general monetary policy transmission mechanism is analyzed and the main impacted factors of various transmission channels is discussed.Next,according to the impacted factors,we use hierarchical clustering method to divide our country's areas and discuss why our monetary policy transmission casued for regional difference.Further, we do an empirical test for credit channel and interest rate channel through the model of VAR.The results show that our country obviously exists the non-symmetry monetary transmission effect.Finally,in the views of causes of difference,we should build a good financial system,narrow the economic gap between various regions, optimize the external enviroment of monetary policy transmission and so on. |
PDF Full Text Request