2009•Economic SurveyRequires access

Credit Transmission of Monetary Policy of Our Country:Theoretical Foundation,Actual Mode and Empirical Test

Cheng Xiao-fen

Abstract

The theory about the credit transmission of monetary policy mainly includes bank loan channel and balance sheet channel.It provides an operation principle for the monetary policy transmission of the developing countries whose market system is relatively imperfect.The author analyzes the credit transmission of monetary policy of our country in the two stages of its development and the key status of bank credit in the actual pattern,and tests the existence of credit transmission channel of monetary policy in our country in an empirical way.

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Available abstract

Key concepts: Credit channel, Monetary policy, Economics, Imperfect, Monetary economics, Transmission (telecommunications), Macroeconomics, Inflation targeting