我国货币政策传导途径区域化差异分析  

Analysis of Regional Difference of Transmission Channels of Monetary Policy in China

作　　者：董琦[1] 

机构地区：[1]中南财经政法大学新华金融保险学院,湖北武汉430074

出　　处：《税务与经济》2011年第4期26-32,共7页Taxation and Economy

摘　　要：通过对我国各地区1985~2009年相关的年度数据建立VAR模型进行实证分析,结果表明货币政策传导途径在我国不同区域存在着显著性差异：东部地区货币渠道发挥作用更加显著;西部地区主要依赖信贷渠道;中部地区则主要依赖货币渠道,信贷渠道作用极其有限。产生这种差异的原因可能是由于区域产业结构、金融发展水平及金融生态环境等因素的不同以及总部经济效应的影响。因此设立区域化政策性金融机构及省域资金流动监管机构、协调区域经济与金融发展、对货币政策中间目标区域化择取,可以在一定程度上减轻货币政策传导途径的区域化差异。According to the empirical analysis of VAR mode established based on data in different regions from 1985 to 2009,it is found that there are remarkable differences of transmission channels of monetary policy in different regions.The currency channels play a more significant role in eastern part of China.While,the western part mainly depends on the currency channels,and the role of credit channels is extremely limited there.The reason for these differences is due to the different regional industrial structure,financial development,financial eco-environment and economic effects of headquarters.Therefore,the establishment of regional policy-based financial institutions and provincial capital flow regulators could coordinate the development of regional financial development,which will give a better choice for the intermediate target of monetary policy and lessen the regional differences of transmission channels of monetary policy.

关 键 词：货币政策 传导途径 区域经济 

分 类 号：F822.0[经济管理—财政学]