The Research On The Monetary Policy Transmission Through Capital Market In Our Country

With the study object of the monetary policy transmission through capital market in our country ,the dissertation focuses on the questions ot its channels ,the effect and the causes of its effect.The dissertation is divided into three parts altogether-the introduction part and principal part. The principal part is divided into three chapters too. The introduction part introduces the significance and background of this dissertation and shows briefly the present research condition of economists on the problem of the monetary policy transmission through capital market in our country.The first chapter of principal part investigates theoretically the variable channels of the monetary policy transmission to entity economy through capital market and divides those channels into two interosculant taches the first one is capital markets are influenced by monetary polices the second one is capital markets have further impacts on real output. The dissertation points out that the monetary policy transmission to entity economy through capital market achieves by assets price impact On consumption, investment and imp- and export. The dissertation discuss a few decisive factors of monetary policy transmission through capital market in our country at the end of this chapter.The second chapter of this dissertation analyzes the present condition of the monetary policy transmission through capital market. This chapter discusses around the questions of the establishment of the channels of the monetary policy transmission through capital market, the effect and the causes for that effect.The research shows that such kind of channels exists in our country. The research also shows that the effect of such channels is not effective after analyzing the two taches of he monetary policy transmission through capital market. The causes of such ineffective channels is as follows -the scale of the capital market, the function of capital market, the weak restriction of investment of the corporations, the division of capital market and monetary market.In the end, this dissertation puts forward five advices for the improvement of the monetary policy transmission through capital market in our country.