| The behaviors of commercial banks in the course of monetary policy transmission can directly relate to whether the intention of the central bank's policies can be smoothly transmitted to the public. Amongst various types of chains of monetary policy transmission, commercial banks are critical ones. As a special economy-transitional country, China's transition is not only from traditional economy to modern economy, but also from planning economy to modern market-oriented economy. Due to lack of the premises of monetary and interest rate transmission, banking credit transmission is still the main channel. Tracing back the credit behaviors of the state-owned commercial banks in the economy-transitional period (that is from 1984 to 2005), the paper applies the theories of monetary policy transmission mechanism, and of commercial banks'credit behaviors, adopts the methods of historical analysis, empiric analysis and comparison to probe different impacts on monetary policy transmission brought about by different behaviors, draws a conclusion and then presents some suggestions. It bears some referential values promoting the real effect of our country's monetary policies, bettering macro-economy tuning.In total, the paper reviews the credit behaviors of our state-owned commercial banks and development of monetary policy transmission. It also reveals the process of their behaviors'evolution.The paper consists of 6 chapters. Chapter One is on the theories of monetary policy transmission and overviews on the theories. Two theories are introduced hereinafter: one is based on the perfect market hypothesis; the other is on the non-perfect market hypothesis. The theory of monetary transmission is compared with that of credit... |
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