基于地區(qū)金融差異的貨幣政策區(qū)域效應(yīng)研究
本文關(guān)鍵詞:基于地區(qū)金融差異的貨幣政策區(qū)域效應(yīng)研究 出處:《華中科技大學(xué)》2012年碩士論文 論文類型:學(xué)位論文
更多相關(guān)文章: 貨幣政策區(qū)域效應(yīng) 金融差異 VAR模型 脈沖響應(yīng)
【摘要】:在我國(guó)幾十年的歷史變革中,貨幣政策一直是中央進(jìn)行宏觀調(diào)控的重要工具,其在物價(jià)穩(wěn)定和促進(jìn)經(jīng)濟(jì)增長(zhǎng)等經(jīng)濟(jì)目標(biāo)上發(fā)揮了至關(guān)重要的作用。我國(guó)一直實(shí)行統(tǒng)一的貨幣政策,但我國(guó)各個(gè)地區(qū)在經(jīng)濟(jì)發(fā)展水平、產(chǎn)業(yè)結(jié)構(gòu)、金融總量以及金融結(jié)構(gòu)等方面都存在較大差異,地區(qū)差異導(dǎo)致貨幣政策實(shí)施效果在各地區(qū)也不盡相同,繼而導(dǎo)致貨幣政策執(zhí)行效果的弱化,進(jìn)一步加大地區(qū)之間發(fā)展的不平衡,這個(gè)過(guò)程稱之為貨幣政策的區(qū)域效應(yīng)。研究區(qū)域效應(yīng)產(chǎn)生的本質(zhì)原因,在以后制定和執(zhí)行貨幣政策時(shí),充分考慮地區(qū)金融發(fā)展差異,從而減少區(qū)域效應(yīng)的存在,這就是本文的研究意義和重點(diǎn)所在。 本文首先回顧了國(guó)內(nèi)外學(xué)者關(guān)于貨幣政策區(qū)域效應(yīng)的相關(guān)文獻(xiàn),在此基礎(chǔ)上總結(jié)出本文的理論基礎(chǔ)。在理論上以最優(yōu)貨幣區(qū)理論為切入點(diǎn),分析了由于經(jīng)濟(jì)周期階段不一致、經(jīng)濟(jì)沖擊以及貨幣政策傳導(dǎo)機(jī)制的不同所帶來(lái)的貨幣政策區(qū)域效應(yīng),同時(shí)也總結(jié)了地區(qū)金融差異的理論基礎(chǔ)。然后簡(jiǎn)要概述了我國(guó)近些年所實(shí)施的一系列貨幣政策,以及其所帶來(lái)的效應(yīng)。緊接著選取了傳統(tǒng)四大經(jīng)濟(jì)地帶,也就是東、中、西、東北這四個(gè)地區(qū)的代表性省市,分析了它們各自的金融發(fā)展水平,并進(jìn)行了對(duì)比分析。再次選取了以上代表性省市的1996-2011年的相關(guān)季度數(shù)據(jù),運(yùn)用VAR模型以及脈沖響應(yīng)函數(shù),從貨幣傳導(dǎo)機(jī)制的內(nèi)外兩個(gè)過(guò)程來(lái)實(shí)證貨幣政策區(qū)域效應(yīng)的存在。最后本文對(duì)實(shí)證的結(jié)果進(jìn)行了總結(jié)和解釋,以期在此后的宏觀經(jīng)濟(jì)調(diào)控中更好的縮小貨幣政策區(qū)域效應(yīng),促進(jìn)區(qū)域經(jīng)濟(jì)協(xié)調(diào)發(fā)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.
【學(xué)位授予單位】:華中科技大學(xué)
【學(xué)位級(jí)別】:碩士
【學(xué)位授予年份】:2012
【分類號(hào)】:F822.0;F832.7
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