Choice of China's monetary policy system

Author: Guo Tianyong
Publisher:
Publish Date: 2006-04-01
Features: This book provides a systematic and comprehensive discussion of China's monetary policy system, integrating theory and practice, international and domestic perspectives, and policy operations with economic effects. It offers insightful analyses and bold suggestions for improving the perfection of China's monetary policy system, enhancing its operability and predictability. The arguments are clear and well-supported, with a thorough comparison of domestic and international monetary policy theories. From both theoretical and practical perspectives, the book systematically analyzes the aspects that China's monetary policy system should learn from.
Previous researchers have often focused on specific policy applications and coordination, with less emphasis on in-depth theoretical exploration. This book, based on international comparative studies, prioritizes theoretical discussions, making it highly persuasive. It accurately and clearly outlines the historical evolution of China's monetary policy system and provides an in-depth analysis of current issues and future reform paths.
A complete monetary policy system should at least include three main parts: monetary policy objectives, instruments, and transmission mechanisms. Considering that the study of monetary policy objectives generally involves analyzing final objectives and intermediate objectives as two separate issues, and the overall positioning of the monetary policy system in China's new economic growth stage is also an unavoidable important issue, the author divides the research on China's monetary policy system into five parts in the book. It should be said that the author's framework design is well-structured and logically rigorous.
The main content of the book includes: research on the connotation of monetary policy final objectives, the selection of monetary policy intermediate and operational objectives, and the reshaping and transformation of monetary policy transmission mechanisms.