基于地区金融差异的货币政策区域效应研究

发布时间：2018-01-06 20:35

本文关键词：基于地区金融差异的货币政策区域效应研究　出处：《华中科技大学》2012年硕士论文　论文类型：学位论文

【摘要】：在我国几十年的历史变革中，货币政策一直是中央进行宏观调控的重要工具，其在物价稳定和促进经济增长等经济目标上发挥了至关重要的作用。我国一直实行统一的货币政策，但我国各个地区在经济发展水平、产业结构、金融总量以及金融结构等方面都存在较大差异，地区差异导致货币政策实施效果在各地区也不尽相同，继而导致货币政策执行效果的弱化，进一步加大地区之间发展的不平衡，这个过程称之为货币政策的区域效应。研究区域效应产生的本质原因，在以后制定和执行货币政策时，充分考虑地区金融发展差异，从而减少区域效应的存在，这就是本文的研究意义和重点所在。本文首先回顾了国内外学者关于货币政策区域效应的相关文献，在此基础上总结出本文的理论基础。在理论上以最优货币区理论为切入点，分析了由于经济周期阶段不一致、经济冲击以及货币政策传导机制的不同所带来的货币政策区域效应，同时也总结了地区金融差异的理论基础。然后简要概述了我国近些年所实施的一系列货币政策，以及其所带来的效应。紧接着选取了传统四大经济地带，也就是东、中、西、东北这四个地区的代表性省市，分析了它们各自的金融发展水平，并进行了对比分析。再次选取了以上代表性省市的1996-2011年的相关季度数据，运用VAR模型以及脉冲响应函数，从货币传导机制的内外两个过程来实证货币政策区域效应的存在。最后本文对实证的结果进行了总结和解释，以期在此后的宏观经济调控中更好的缩小货币政策区域效应，促进区域经济协调发展。
[Abstract]:In the decades of historical changes in China, monetary policy has been an important tool for the central government to carry out macro-control. It has played a vital role in the economic objectives of price stability and economic growth. China has been implementing a unified monetary policy, but in the level of economic development and industrial structure in various regions of our country. There are great differences in the total amount of finance and the financial structure. Regional differences lead to different implementation effects of monetary policy in different regions, and then lead to the weakening of monetary policy implementation effect. Further increase the imbalance between regions, this process is called the regional effects of monetary policy. Study the essential reasons of regional effects, in the later formulation and implementation of monetary policy. The significance and focus of this paper are to consider the regional financial development differences and reduce the existence of regional effects. This paper first reviews the domestic and foreign scholars on the regional effects of monetary policy literature, on the basis of this summary of the theoretical basis of this paper, in theory with the theory of the optimal currency area as the starting point. This paper analyzes the regional effects of monetary policy due to the inconsistent stages of the economic cycle, economic shocks and the different transmission mechanisms of monetary policy. At the same time, it summarizes the theoretical basis of regional financial differences. Then it briefly outlines a series of monetary policies implemented in recent years, and the effects they bring. Then, four traditional economic zones are selected. Namely east, middle, west, northeast these four representative provinces and cities, analyzed their respective financial development level. And carried on the comparative analysis. Again selected the above representative provinces and cities from 1996 to 2011 related quarterly data, using the VAR model and impulse response function. From the monetary transmission mechanism inside and outside two processes to demonstrate the existence of monetary policy regional effect. Finally, the empirical results are summarized and explained. In order to reduce the regional effect of monetary policy and promote the coordinated development of regional economy.
【学位授予单位】：华中科技大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F822.0;F832.7

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