Research On Transmission Mechanism Of Chinese Monetary Policy

Modern economy is a highly global, credit, informational and financial market economy, and finance is the center in modern economy. Nowadays, with the instant financial of our economy, finance has become the central nervous system and play more and more important role in economic development. Monetary policy is an important Macro-economic policy, and the transmission mechanism of the monetary policy is the main content of monetary policy,it count how monetary policy to affect essential commerce, it is the base of the validity of monetary policy. To a great extent, whether the central bank can successfully accomplish its monetary policy's goal depends on whether the transmission mechanism of the monetary policy is smooth enough. The people's Bank of China is now confronted with a series of critical problems due to the transmission mechanism that bars the PBC to realize its monetary policy's goal. Therefore, it is necessary to give a thoroughly research on the transmission mechanism of the monetary policy.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 policy; 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; The fifth chapter on the basis of the fourth chapter raises some suggestions to strengthen the validity of the transmission mechanism of our monetary policy. This paper has adopted the way of combining demonstration description with standardizing analysis. Basing on the reality of China, the analysis is launched deeply and step by step. The final purpose is to offer reference for the policy-making level to make the rule and clear out tactic.