Analysis On The Irrational Expectancy Effect Resulted By Macro Adjustments And Controls

In 1998, China began to adopt the macro adjustments and controls mainly relying on positive policy, and thus, the irrational expectancy effect that deviates the anticipated route and is even against the anticipated route has appeared since 2002. A new round of macro adjustments and controls since the second half of 2003 has just suppressed the too fast growth in economy. However, the profound contradiction in too fast growing economy, in structural problems that influence the sound development of economy and in the obstacle of system and mechanism is yet not effectively solved. The irrational expectancy doesn't mean that the measures of macro controls don't work, but means the real effect is difficult to control with assurance because of the systematic and mechanic obstacle and the lagging behind of the adjustments of economic structure and the change of the style of economic growth in the immature stage of market economic system. Substantive progress has to be made in putting forth efforts in perfecting system reform, in promoting structural adjustments and the change of economic growth, and in improving the ability in macro adjustments and controls.