The Study On The Region Difference Of Yields Effect On The Rate Pollicy

Along with our country’s economy development to perfect, interest policy in thenation’s macroeconomic regulation plays a more and more important role, but Chinais a large country, regional economic structure and financial system are both atdifferent levels, the unified monetary policy including interest rate policy performedby the central bank is hard to get same effect in different economic area, therefore,we need to interest rate policy in different area of effect on the existence of thedifferences and the causes of the analysis and research of the study, so as to createrelated conditions, formulates target-oriented and implement policies, make theinterest rate policy more effectively play to its economic leverage, promoting thecoordinated development of regional economy.This paper put our country is divided into eastern and central China, the northeast, thewest four economic area, the national and regional respectively in the name of theoutput and the actual output and utility rates of establishing indexes vectorauto-regressive (VAR） model, through the impulse response function and varianceanalysis method to analyze our country unified interest rate policy effect in the area isa significant difference between whether. The study found that the effects of theinterest rate policy in our country in our country of eastern and central China, in thenortheast and west produced more obvious regional differences, the influence ofinterest rate policy to the east of the output of the most significant, and far greater thanof the western influence, and between central and northeastern between them.This paper further interest rate policy effect on China’s regional difference of theprobe into the cause of the, this paper analysis found that result in the interest ratepolicy of regional difference there are three main reasons, namely: financial structure,the district difference of the industrial structure regional differences and enterprisestructure of the regional differences. The eastern region bank system structure is rich,microcosmic financial effort degree is high, the interest rate sensitive second industryand the third industry greater proportion, in the enterprise structure in the proportionof small and medium private enterprises more than three other area, so the economicactivity of interest rate sensitive information, interest rate policy in the eastern can getgood effect. Therefore, in order to improve the interest rate policy in the central,western and northeast of three areas effect, narrow interest rate policy effect in theregional difference, this paper puts forward the perfection of our financial system, andstrengthen the reform of state-owned commercial Banks, improve China’s westernnortheast of the main body of the micro financial the degree of efforts to speed up theadjustment of each area in China, the industrial structure, promote the reform ofstate-owned enterprise property rights, try to implement the law disseminating interestrate policy, deepen the interest rate marketization degree and so on policySuggestions.