Research On The Chinese Regional Difference Efficiency Of Monetary Policy

With the development of economy, the monetary policy in China has become the mainmeans of macroeconomic regulation.From the easing monetary policy to curb the financialcrisis to the curbing inflation monetary policy, monetary policy is more and more important toeconomic. At the same time, the problem that China’s regional economic development is notbalanced is outstanding gradually, monetary policy in the implementation should beconsidered in regional differences. And since the main long-term monetary policy in ourcountry is the unified monetary policy, to some extent, it ignored the unbalanced regionaleconomic development has different needs on the monetary policy, thereby the regionaldifferences of monetary policy arose. The Yangtze River Delta region and the Bohai rim isthe key economic developing region in our country, although the two area belongs to area ofthe eastpart, but because of the economic structure and other factors caused by the differencesof the regional effect of monetary policy can not be ignored. Therefore, research on thevalidity and discrepancy of monetary policy in the Yangtze River Delta area and the Bohairim has the important practical significance.Research on the effect of monetary policy regional difference and its influence, this paperadopts the combination of quantitative analysis and qualitative description, empirical researchand normative research methods. Empirical study including time series analysis, vectorautoregression (VAR) model and Granger causal analysis, the software used is EVIEWS.Through the research, this article attempts to achieve the following two goals: one isYangtze River Delta and the Bohai monetary policy is indeed the existence of regionaldifferences; the two is that we puts forward the corresponding countermeasures to solve theregional effects of monetary policy existence difference problem, reduce the cost of monetarypolicy, coordinated regional economic development.