The Influence Of Credit Rationing On China's Monetary Policy Transmission Effect

Chinese marketization has not yet reached the extent of the developed western countries, credit channels is still the main channel of monetary policy transmission mechanism, so the study of commercial bank credit rationing and monetary policy implementation effect in recent years is a hot problem of theoretical research. This paper targeted for the relationships between in ten years China's monetary policy transmission efficiency and effect of commercial bank credit rationing behavior to make a research and analysis, so as to provide valuable reference for expressing better monetary policy implementation effects.Early in the middle of last century, the western scholars had made lots of analysis and researches on credit rationing, and had provided a variety of reasons for the generation of credit rationing. But until the end of last century, our scholars started concerning about the bank to pity the loan. There exists the mature market difference degree between China and foreign countries, then relevant credit rationing monetary policy implementation effect of correlation study have respective characteristics and differences. The practices have proved that our commercial Banks in China plays a more important role in bank credit rationing behavior.The main purpose of this study is to put our country commercial bank credit rationing behavior into two sector economic model of IS-LM, we analyzed the monetary policy implementation effects from credit rationing theoretically, then in order to make China's monetary policy measures be better use, we get through the empirical analysis to explain the results of the theoretical research, by combining with our country's real situation and selecting the macro economic data.