Path Selection Logic Of Market-oriented Interest Rate Reform In China

This thesis, "the reform route logic of China's interest rate marketization", differentiates between the concept "reform resulted from endogenetic upgrowth of market" and "reform pushed by government". It points out that the interest rate marketization reform of China is pushed by government. Further more, this thesis also differentiates between "institutional reform conditions" and "technical reform conditions" in the field of "reform pushed by government". "Institutional reform conditions" includes two conditions: government's marginal utility must be positive, and critical interest group's marginal utility should be positive. "Technical reform conditions" includes the following conditions: macro-environment is stable, supervision capacity of related institution is good, market system is perfect, and units in the market are sensitive to the fluctuating of interest rate. This thesis includes 7 chapters, which can be classified into 3 parts.The first part is the first chapter. It excludes the applicability of the foreign related theories.The second part includes Chapter Two to Chapter Five. This part focuses on the reform route logic of China's experienced interest rate marketization. It is studied on the basis of "institutional reform condition". Chapter Two divides the course of the interest rate marketization reform up to now into 3 phases, on the basis of which Chapter Three studies the reform route logic of China's interest rate marketization. Chapter Four studies in the survey of the whole economy reform of china. In order to improve the abstract consistency of the analysis in Chapter Three and Chapter Four, Chapter Five studies further in a uniform theory structure on the basis of several new concepts and a model. These concepts includes "reform resulted from endogenetic upgrowth of market", "reform pushed by government", "institutional reform conditions", "technical reform conditions", "institution lock", and so on. So the studies in these chapters are deeper and deeper. The third part includes the last two chapters. This part studies the reform route for the future. Chapter Six studies the future reform on the basis of "institutional reform conditions" analysis, such as the reform of deposit and loan interest rate marketization and the reform of the state owned commercial bank. Chapter Seven analyses the preparations for "technical reform conditions" of the future interest rate marketization reform.