Analysis Of The Effects Of Monetary Policy In China

This thesis is mainly about the effectiveness of China's monetary policy, which has been one of the most important macroeconomic adjusting measures.After China's reform and open policy being implemented as well as economy operation, the monetary policy in China has gradually realized changes from "plan" to "contingency"". That is to say, indirect monetary policy has been taking more and more shares in macroeconomic modulation. Especially, recent years has witnessed the frequency and intensity of the application of monetary policy, which both tend to be stronger. But the effect is within our concern. First of all, from the point of the economic trend in the history and its adoption of monetary policy, we pick up data, process them and use them to our later econometric analysis. The outcome turns not to be obvious. This originates from our unsound interest rate marketization, which lead to the longer time lag and then negatively affect the effectiveness of our monetary policy. In the last part of this thesis, concerning to this issue, I make some policy suggestion.