利率机制作用于市场主体的有效性分析

The Valid Analysis on the Interest Rate Mechanism in the Market Main Body

随着利率逐渐市场化,利率体制逐渐健全,利率传导渠道在货币政策传导中发挥的作用也越来越重要。为检验我国货币政策利率传导机制的有效性,考察利率变化对市场主体产生的影响,对1984年至2008年我国利率、储蓄、投资、消费及国内总产值的年度数据进行了相关性分析,研究表明我国利率机制对市场主体影响的传导渠道除消费外均存在阻滞因素。

Along with the gradual marketization of interest rates, interest rates gradually perfect the system, the interest rate transmission channel for monetary policy become more and more important. In order to test the effectiveness of China＇s monetary policy transmission mechanism, examining the main changes in interest rates on the market impact, Of 1984 to 2008 China＇s interest rate, savings, investment, consumption and GDP data for the year has carried on the relevant analysis, study shows that the interest rate mechanism of China＇s main impact on the market in addition to the conduction channel block consumption factors there.