The Transparency and Effectiveness of Monetary Policy——A Research on the Monetary Policy Transparency Index and Effectiveness Index Regress Analysis

In recent years,many scholars in China and abroad have regarded the relationship between the transparency and effectiveness of monetary policy as an important problem to be researched.A regress analysis made on the transparency index of monetary policy and monetary policy effectiveness factor has found that the transparency of monetary policy has some influence on the effectiveness of monetary policy,but its influence is different in different periods.In order to achieve a reasonable transparency of monetary policy and promoting the effectiveness of monetary policy we should take the latter as a development orientation for China's monetary policy,bearing in mind that promoting the transparency of monetary policy has positive role not all the times in monetary policy effectiveness.Besides,the reasonableness of modes and methods of the monetary policy transparency should be paid attention.