摘要
实证研究结论表明:我国货币政策的作用真实表现为正向或负向货币供给冲击;正向或负向货币供给冲击对我国东部地区、东北地区、西部地区和中部地区的影响是不一样的,即存在紧缩性与扩张性货币政策区域效应;我国货币供给冲击是东部地区、东北地区和西部地区经济增长率的Granger原因,不是中部地区经济增长率的Granger原因;我国紧缩性与扩张性货币政策区域效应主要是与不同地区金融机构分布和货币政策传导渠道的不同有关。
The conclusion of empirical research indicates that the real performance of China's monetary policy is positive or negative shock of money supply, the influence of positive or negative shock of money supply to China's eastern regions and northeast regions and western areas and central areas is different which is also to say there is regional effects of tight and out- stretched monetary policy, China's shock of money supply is the Granger cause of growth rate of eastern regions and northeast regions and western areas which isn't the Granger cause of growth rate of central areas. Regional effects of monetary policy in China is related mainly with the difference of distribution of financial institutions and transmission channels of monetary policy.
出处
《南京财经大学学报》
2012年第2期1-7,共7页
Journal of Nanjing University of Finance and Economics
基金
山东省自然科学基金项目"货币政策区域效应及微观规制政策研究"(项目编号:ZR2011GL008)
山东财经大学博士基金项目"中国货币政策非对称效应研究--基于地区经济周期差异视角"(项目编号:2010030)的阶段性成果
关键词
货币政策
调控方向
货币供给冲击
区域效应
monetary policy
control direction
shock of money supply
regional effects