| Chapter 1 supplies conception premises for following chapters. It mainly consists the definition of capital and capital market , the connection between economic growth problems, capital proliferation conflicts and monetary policy.Chapter 2 unfolds the theoretical narrative and framework through historical and positive review. It generally displays that it is capital market development that has resulted in the transformation of the economic growth model from 'archaic' to 'model', the subject of Western economics from 'value theory' to 'money theory' and the having coming into being of monetary policy before World War II, that has caused some common transformations of the selection of conductive intermediates of monetary policy of various Western nations after World War II, that leads to the function of capital market to support technological innovation, determine long-time economic growth potential, and influence the operational abundance of monetary policy in 90s' as in the U.'S.. The theoretical content of this chapter consists the review of Keyens' theory and the foundation of a new growth (potential) model which is for a modern economy owning 'Economic Growth Mechanism II ' , based on Science, Technology and Economy Systematic Theory, introducing the monetary factor and institutional influence. During the later course of foundation, the author wholly analyzes the mechanism of technology progress, points out the 'labor saving 'is the most foundational resource support to technology, that technology equals capital, that the key impetus to technology progress is constitutional reform. Based on all these analyses, the author can differentiate technology innovation and technology addition, capital innovation and capital addition, the 'Resource Allocation Function II' and 'Resource Allocation Function I' of capital market, 'Economic Growth Mechanism II ' and 'Economic Growth Mechanism I 'of a modem economy.In chapter 3, the author tries to construct 'the theoretic model on the adjustment to capital price and quantity' of an economy having complete market mechanism. The author firstly puts forwards a new investment function , which is the function of economic growth potential and the interest rate of financial capital. Secondly, the author probes into the relationship between economic growth rate and potential economic growth rate, the relationship between interest rate of financial capital and economic growth rate. Then, based on the former exploration, the author founds a new model on how and how should money supply adjusts investment and growth rate which consists 2 aspects of mechanism, the one is on how money supply adjusts the interest rate and growth rate through liquidity preference law, the other one is on how the growth rate drivesthe alteration of the interest rate through capita! price connection law. To positively demonstrate the relationship of the two aspects, the author selects the data of 1964-1998 of the U. S. to construct regression models. The author also elementarily illustrates that the effectiveness of monetary adjustment depends on the economic growth potential.Chapter 4 firstly review the now theoretic models on the influence of money to product by the standard of 'money neutrality'. Then it puts forward the mathematical model of the author himself on the influence of money to economy which departs the conditions by whether inflation happens. Thirdly through considering what concerns monetary policy as a system, the author put forwards a definition for Monetary Policy System and analogize it to an engineering control loop, thus the author puts forwards the 'Policy-servo' function of capital market to monetary policy. Then based on all the definition, illustration and analog, the author theoretically summarizes the influence of capital market development to monetary policy, which is also a theoretic framework on the relationship between the transformation of economic growth mechanism and the innovation of monetary policy system. The author points out that the whole...
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