中国稳健货币政策效应分析:1998-2004

通过对稳健货币政策效应的局限性进行分析,指出货币政策传导不畅是影响中国稳健货币政策效应的根本原因。基于稳健货币政策效应分析,论述了中国现行货币政策传导机制存在的问题,认为中央银行的独立性偏低、国有商业银行改革滞后、企业转轨时期的特殊性、金融市场不完善是导致货币政策传导机制梗阻的主要因素,进而提出了提高稳健货币政策效应的对策。

An Analysis of the Efficiency of China's Sound Monetary Policy:1998-2004

The paper analyzed the limitation of the monetary policy,and found that the transmission jam of monetary policy was the basic factor that affected the efficiency of China's sound monetary policy.The author also analyzed the existing problems in China's present monetary policy transmission mechanism.The first was the independence of the central bank.The second was backward of the state-owned commercial bank's commercialization.The specialty of the enterprise in mechanism reform period was the third cause.And the last was the imperfect of the financial market.All these led to the blockage of the monetary policy transmission mechanism.The author also put forward some ways of enlarging the monetary policy efficiency.