| Fiscal and monetary policies are the most popular and important tools of macroeconomic regualation-control in the market-orientated countvies. These two policies need co-operation to get expected effects, since they抮e acted on differently and affect each other. In this field, we can draw on experences and lesons from developed countries. China's economic reform has been in the direction of general adoption of the market principle since 1978. In this process, the cooperation of fiscal- manetaiy policy has got matured gradually and its measure has changed. We can divrde this process into three stages: 1. In the whole eightith of 20 century, China's reform is in the core of decentralization, nonstate economy emerged but state-owned one still being in the absolutely dominant position, and soft budget constraint being existed. In this stage, because of carrying out the policy of iscal covession?and finance getting more and more eminent position, monetary policy was being mainly relied on to adjust and control was still dominant, whose basic behavior ways were as before; non-state-owned economy developed greatly, whose behavion way fitted in that the requirement of marked economy. In this stage, the characteristic of dual management appeared and indirect ways were more used. 3. After 1998, non-state- owned economy stepped to the institutional center, while its behavior ways changed as the result of the forming of outside hard constraint, and macroeconomy have taken on effective demand insufficent. In this stage, positive fiseal policy has become the key power of economy inspring. From the experience of last years, we showld draw up the fixcal-monetary cooperation patten with thinking about our country's condition. In the next stage, institution reform and structure adjust are our main tasks, so how to use fixcal and monetary polices successfully is this thesis's key intention. In the short term, we should stick to the present intention of fixcal and monetary policies and change some specific methonds. |
