The Effect Of Monetary Policy In China Since The Reform And Opening Up Study

With the deep development of the open and reform and the unceasing improvement of marketing level, and since China established the system of Central Bank in 1984, the monetary policy as a regulation method plays a more and more important role in the stable development of economy. Even monetary policy is becoming the main means of China for adjusting and controlling macroeconomy. But during the practice of monetary policy following the reform and opening-up, sometimes monetary policy didn't gain expected effect, which makes people suspect on the effect of the monetary policy. Therefore it has the necessity makes some analyses on the effect of monetary policy as well as the influence factor.Money demand and money supply are the foundation of the monetary policy. Controlling the supply of money and Influencing the demand of money is the main Operating goal. So this article focuses on the demand and supply of money, aiming at the effect of monetary policy.The thesis first briefly introduces the theories on the effectiveness of monetary policy and the theories of money demand and supply. What follows is to use modern econometric method to establish the money demand model, and then use the model to analyze the factor influencing the monetary policy. At the aspect of the money demand, it is to use econometric method and money multiplicator to analyze the endogenous of money supply, basing which we study the influence on the monetary policy effect.