基于湘粤两省货币政策效应的差异性研究

The Research of the Asymmetrical Effect of Monetary Policy on Hunan and Guangdong Province

以湖南省和广东省为例,分析了两省经济金融发展的差异,并运用VAR模型和脉冲响应检验了统一货币政策在湘粤两省的不同效果。实证结果表明,在央行统一货币政策的前提下,应结合不同地区经济金融发展的差异制定差异化的货币政策,以提高货币政策的地区效应,达到缩小各地区间经济金融发展差距的目的。

Hunan Province and Guangdong Province are taken as examples,the differences of economy and finance between two provinces are analyzed,and the different effects of unification monetary policy are examined by using the VAR model and the pulse response in the Hunan and Guangdong province.The results show that to improve the effects of monetary policy and to reduce regional economical disparities,different monetary policies should be adopted in the different regions with the disparities states of economical development.