宏观总量调控货币政策对贵州区域传导特征及区域效果差异

发布时间：2018-03-14 19:32

本文选题：货币政策　切入点：区域效应　出处：《贵州财经大学》2013年硕士论文　论文类型：学位论文

【摘要】：货币政策是指货币当局为了达到一定的宏观经济目标(经济增长、物价稳定、充分就业、外汇稳定)而采取的管理和调节货币与信用的政策。它由最终目标、政策工具、操作指标、中介目标等因素构成。中央银行将货币供给量及其它变量作为中介目标,运用利率、再贴现率、准备金率、公开市场操作等工具调节货币市场,进而实现货币币值稳定、经济增长等目标。由于贵州省与其它省份在经济发展水平、金融设施、货币化水平等方面存在异质性,从而出现贵州省对总量性货币政策敏感性与其它省份的不同的现象。一体化货币政策在作用经济实体时,因为贵州省与其它区域在经济结构、市场化水平、供给能力等具有不同特点,所以以总量性货币政策可能造成区域间经济发展不平衡。本文以贵州省作为研究对象,通过梳理国内外经典文献从理论研究的角度研究总量性货币政策对贵州的影响,主要运用区域货币乘数、区域AD-AS模型、区域货币政策乘数等理论进行分析。并结合贵州省经济结构、市场化程度、金融发展水平、外汇平衡与其它省份进行比较,运用总结其他学者的研究成果对比较结果进行分析,得出总量性货币政策对贵州省影响的特点。再运用向量自回归模型、脉冲响应分析、方差分解等实证工具对研究变量进行实证检验。全文的结构与主要结论如下：第一章是导论。介绍了选题的背景及研究的意义,说明研究采用的方法,总结自己研究的不足和可能出现创新的方面,同时对研究思路与框架予以简要说明。第二章是首先介绍货币政策及其政策区域效应的概念,同时总结国内外学者研究成果,为文章展开拓宽视野。第三章是理论分析,运用区域AD-AS、区域货币乘数、区域货币政策乘数等模型进行理论分析,并揭示货币政策区域效应的存在。第四章是通过将贵州与其它六省份在经济结构、金融结构、市场化水平、外汇顺逆差等方面的比较,总结贵州省在总量性调控货币政策条件下货币政策传递特点。第五章是实证分析,对GDP、固定资产投资、房地产投资额、利率、M2变量通过构建VAR模型进行脉冲响应分析和方差分解,得出相关结论。第六章是政策建议。
[Abstract]:Monetary policy is the policy adopted by monetary authorities to manage and regulate money and credit in order to achieve certain macroeconomic objectives (economic growth, price stability, full employment, and foreign exchange stability). The central bank uses interest rate, rediscount rate, reserve ratio, open market operation and other tools to regulate the money market. To achieve the objectives of stable currency value and economic growth. Due to the heterogeneity between Guizhou Province and other provinces in terms of economic development level, financial facilities, monetization level, etc., As a result, the sensitivity of Guizhou to total monetary policy is different from that of other provinces. When the integrated monetary policy acts on economic entities, it is because Guizhou and other regions are in the economic structure and market-oriented level. Supply capacity has different characteristics, so the monetary policy of total quantity may cause imbalance of regional economic development. This article takes Guizhou Province as the research object, through combing the domestic and foreign classical literature from the angle of theoretical research to study the influence of the total monetary policy on Guizhou, mainly using the regional monetary multiplier, regional AD-AS model. Combining with the economic structure, marketization, the level of financial development, the balance of foreign exchange of Guizhou province and other provinces, this paper analyzes the comparative results by summing up the research results of other scholars, such as the theory of regional monetary policy multiplier and so on. The characteristics of the total monetary policy influence on Guizhou Province are obtained. Then the empirical tools, such as vector autoregressive model, impulse response analysis and variance decomposition, are used to test the research variables. The structure and main conclusions of the paper are as follows:. The first chapter is the introduction. It introduces the background and significance of the research, explains the methods used in the research, summarizes the shortcomings and possible innovative aspects of the research, and gives a brief explanation of the research ideas and framework. The second chapter first introduces the concept of monetary policy and its regional effect, and summarizes the research results of domestic and foreign scholars. The third chapter is the theoretical analysis, using the regional AD-AS-S, regional monetary multiplier, regional monetary policy multiplier model to theoretical analysis, and reveals the existence of regional monetary policy effect. Chapter 4th compares Guizhou with the other six provinces in economic structure, financial structure, marketization level, foreign exchange, and so on, and summarizes the transmission characteristics of monetary policy in Guizhou province under the condition of aggregate monetary policy. Chapter 5th is an empirical analysis of the VAR fixed asset investment real estate investment interest rate M 2 variables through the construction of VAR model impulse response analysis and variance decomposition to get the relevant conclusions. Chapter 6th is policy advice.
【学位授予单位】：贵州财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F822.0;F127;F224

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