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an analysis of effectiveness of china’s monetary policy from the credit transmission channel
abstract: the effectiveness of monetary policy depends to a large extent on whether or not its transmission channel keeps going. the interest rate channel and capital market channel of the monetary policy transmission don’t play the role in short time, but bank credit channel play the main channel of monetary policy transmission, on condition that interest rate isn’t market-oriented, that financial market has many defects, and that bank loan cannot be substituted fund for most enterprises. it is the credit channel not keeping going that results in recent chinese monetary policy being low effect, so economic environment that blocks the credit channel must be improved and then proceed to bring the validity of monetary policy into play.
key words: effectiveness of monetary policy; credit channel of transmission; bank loan channel of transmission
人民币升值可能带来的主要利益辨析
外汇储备转化为石油储备不能避免人民币升值带来的损失