Research on China's currency policy - credit conduction channels of monetary policy
|School||Capital University of Economics|
|Keywords||Monetary policy Credit Transmission Channel Bank lending channel Balance sheet channel|
In this paper, the study of China's currency policy as a starting point , seize one of the credit conduction channels of the main line of exposition . Summarizes and comments on the transmission channels of monetary policy, credit theory , the use of empirical analysis , comparative analysis of normative analysis method , monetary policy, credit conduction of the main channel , the weakening of the status quo and causes of the credit transmission mechanism to expand the depth parsing and argument . Which the credit channels of monetary policy transmission has always played the role of the main channel , from the course of the evolution of the monetary policy transmission mechanism , the prerequisite of the role of other monetary policy transmission channels of reality as well as the credit transmission mechanism in our basically meet the three aspects discussed in detail . Starting from the analysis of the current reality of the effectiveness of monetary policy in China , leads to the weakening of the credit transmission mechanism is the main reason for this result . As the reasons for the weakening of the paper focuses on the transmission mechanism of monetary policy, credit , along the Central Bank → financial markets financial institutions → microeconomic main context , and one by one analysis, concluded that : the weakening of the credit transmission mechanism is not alone in which level there is a problem , but rather exist to varying degrees in the four levels are the factors that hinder the smooth conduction of credit channels of monetary policy . As a conclusion , the final chapter to dredge the credit of China 's monetary policy transmission channels 7:00 policy proposals , to provide some useful help for monetary policy in the future play a better role .