Regional Difference In The Effect Of Monetary Policy: An Empirical Study Of Round Bo Hai Area

With the development of economy, monetary Poliey became the main instrument for the state to control the national economy. From the tight monetary policy last year to the loose monetary policy this year, the importance of monetary policy to the economy is gradually appearing. Along with the developing, the problem of regional disparate development stands out, therefore, the implement of monetary policy should take the regional difference into account. However, the national monetary policy ignors the different demands to the monetary policy because of regional disparate development, which leads to the regional difference in the effect of monetary policy. Round Bo hai area is the important develop and open area in our country, the different economic stuation of each provinces and the regional difference in the effect of monetary policy in the area should be pay more attention. Therefore, in order to promt the economic development of round Bo hai area, it is absolutely necessary and meaningful to research on the validity and difference of monetary policy in round Bo hai area. The thesis includes six chapters.The first chapters iniroduces the environment, purpose and significance of the thesis.The second chapters is theroy foundation which includes the theory of optimum currency areas and the monetary policy transmission.The third chapters introduces the current situation of round bo hai area from two aspects, that is economy and finance.The fourth chapter makes empirical examines of the regional different effect of monetary policy transmission mechanism, by using Vector Auto-Regressive model and some econometric instruments.The fifth chapter researches the regional different effect of monetary policy transmission mechanism and find out which factor affect the monetary effect most in each province in round bo hai area.The last chapter brings forward some countermeasures and advices.This thesis tries to reach two goals. The one is analyses and demonstrates the regional difference in monetary policy transmission mechanism, the other one is taking into consideration the reality in regional development, the author made some suggestions to improve the effectiveness of monetary policy and prompt the developent of around bo hai area.