Research On Monetary Policy Effect Of China's Stock Market

As an important means of government macrocosmic adjustments in china, now as a result of many problems, monetary policy is obviously restricted in the course of adjusting and controlling economy. With the flourishing development of the stock market and increasingly close connection with national economy, the implementation of the monetary policy must influence the tendency and development of the stock market, meanwhile, as the influence of stock market on our country's economy being greater, the development of the stock market has put forward the new demand for the application of the monetary policy . Therefore, further investigating the monetary policy effect of the stock market and exploring whether stock market could play a role of the transmission effect to the monetary policy, realizing effective regulation of monetary policy to macroeconomy, have already become very urgent problems faced in the development of our country economy. At first, this text introduces the research background of this topic , Making readers have assurance generally ,and then explains the research purpose and method of this text concretely ; Secondly, on the principle , to analyze the interactive mechanism of the monetary policy and stock market ;In the third part, I Combine the concrete conditions of our country to analyze current situation of conducting the monetary policy on the stock market and poor efficiency reason in recent years; The fourth part is a real example part, including two small parts: Firstly, I Analyze the relation between the stock market and monetary demand through setting up monetary demand function ; Secondly , Adopting correlation analysis , stationary test and cointegration analysis research approach of time series variable in econometrics, I examine the relation between the money supply of our country and price of stock market especially; In the fifth part , aiming at the situation above , I put forward the suggestion.