Research On Credit Rationing On China’s Monetary Policy Transmission

Both developed and developing countries, credit rationing as a widespreadphenomenon in the development of an economic. Many scholars have carried outin-depth research, because its presence is interested in economic to produce a series ofeffects.China’s financial system is still immature, the interest rate of the monetary policytransmission channels, asset price transmission channels and the exchange rateconduction channels due to the lack of appropriate market mechanisms andmicro-foundation limits its role to play, so the credit channel of monetary policytransmission occupy a dominant position. At the same time, because of the complexityof the current economic situation in China, our credit rationing has its owncharacteristics. In this paper, the results of Western and Chinese scholars on the study ofthe Chinese credit rationing of credit rationing is not equivalent to the Western balancedcredit rationing in the analysis and study of the current economic situation of ourcountry, and our credit rationing and non-equilibriumcredit rationing, and belongs to thedual nature of credit rationing. Credit rationing of credit channels play a larger impacton the normal monetary policy transmission mechanism, so the study of credit rationingnormal conduction of monetary policy has profound theoretical and practicalsignificance.In this paper, the theoretical analysis, the present situation of China research andanalysis and empirical data demonstrate three aspects of the dual nature of the creditrationing, characteristics and causes a more detailed study.Finally, on the basis of theprevious text analysis of credit rationing relevant policy recommendations.