The Study Of Regional Investment Structure Effects Of Monetary Policy In China

In the past 30 years, China's reform and opening up policy has yielded substantial results, Investment has played a crucial role in the economic growth, maybe it is one of the most active factors that development of economy. However, there is a huge difference of investment structure among different places. And the regional imbalance in economic development looms in every aspect. Obviously,it is not a good factor for our construction of a harmonious society.Basically,The regional economic imbalances spring from investment imbalances.We need to pay more attetion to study the factors that affect investement to achieve a regional balanced development. Practice proves that monetary policy is such a factor,So figure out the way that monetary affects investment means much to our effort to make the investment more rational both in space and time.And if the investment works in a rational way ,a hamonious growth should be expected.At first, we review the document of monetary policy,then concern on the monetary policy transmission mechanism, analyze the possibility of structure effect of monetary policy.After that, we give a brief introduction of chinese monetary and inverstment.obviously, we need to study out why the regional structrure effct existed in the unified monetary policy, then we examine our theory by the panel model. This model indicates that:(1)monetary policy have a obvious regional effect on investment in the eastern area,further,the monetary policy correlated positively with inverstment in this area(2) .Money supply have a marked influence on fixed asset investment in the middle area(3) monetary policy correlated positively with fixed asse inverstment in west area,but it is not so notable as in the middle area After comparing the stucture effcts in investment of monetary policy in different areas.we put forward some proposal to optimise our regional investment structure.