The Influence Of Short-term Financial Bonds To The Effective Conduction Of Monetary Policy Of China In 2008

As a reform of finance market,whether the issue of short-term note in 2005 brings positive effection to the conduction of monetary policy,enhances the relevance between the operation of monetary market tool and the monetary policy target, dredges the conduction of monetary policy? And what is the final effection it brings to the economic gross?How could this happen? On the other hand,during this process,whether some factors which may block the process exist? what effection will the issue of short-term financial bonds bring to the economic efficiency?These are problems this paper will solve.This paper focuses on the relevace between the short-term financial bonds and the expansionary monetary policy tools.it is through the conduction that the monetary policy influences the economic,which includes the economic gross and efficiency.so in the following essay we will discuss these two facets respectively. This paper will be established in every step during the monetary policy conduction,based on two theories of monetary policy conduction:Economics Keyesianism and Monetarism,from the monetary policy tools,to operation target,to medium target and finally the effection of monetary effectiveness(in other words,the influention the monetary policy brings to the economic).In concrete analysis,the relationship between the short term note and the monetary policy conduction will be analysed and related causes will be explored.What's more,how the issue of short term note affected the economic efficiency index such as ecomonic frame?At the end,a conclusion whether the issue of short term note affectes the monetary policy conduction positively or negatively will be made.