| Financial disintermediation was first used to describe the economic phenomenon appeared in the United States in the1960s,it aroused many domestic and foreign scholars’ attention. Financial disintermediation may seem simple, but it hidden much important information about all aspects of a country’s economy, and a comprehensive understanding of the financial disintermediation is a very meaningful work. First, financial disintermediation is an important indicator of changes in financial structure. International experience shows that financial disintermediation is not performance in the process of economic development of all countries, But it usually conceived in the new policy environment.Even if there is a financial disintermediation, The countries financial disintermediation generated specific reasons and extent are not all same. Second, financial disintermediation will impact the transmission of monetary policy. Events that affect the financial system will also affect the transmission of monetary policy, Financial disintermediation will lead to changes in monetary policy and effect the impact of the monetary policy transmission. Ultimately will affect the economic development and stability. Therefore, to understand the changes in the monetary policy transmission mechanism of financial environment, the correct formulation, implementation and adjust monetary policy to stabilize the macroeconomic is very important.In recent years, with the development of financial markets and the deepening of China’s llnancial reform, many scholars keen to find signs of China also appeared financial disintermediation. However, many papers focus on the simple description of financial disintermediation or discussion the coping strategies of commercial banks.Has China emerges financial disintermediation? How deep of our degree on financial disintermediation? What kind of impact will be caused on monetary policy transmission? In view of this, The article hopes to sort out in these areas. |
PDF Full Text Request