Research On The System Of Chinese Reserve Regulation Effect

Since entering the21st century, the people’s bank of frequent moving to adjust reserve requirements, the legal deposit reserve policy as a main monetary policy is used. From2006to2012, six years, the deposit reserve rate changes in as many as37, on average every two months will be an adjustment. At the same time, many western countries is gradually turning to the interest rate mechanism for the operation of the operating goals, adjust the function of the money supply, much less the deposit reserve system, many countries are no longer will the deposit reserve policy as the common tools of monetary policy, but as a guarantee validity other monetary policy tools of the stability of the financial system and policy tool. Why the use of the legal reserve policy of our country with the international trend instead? A reserve policy of our country and played a due effect? This article respectively by way of international comparison and empirical analysis on the two problems were studied.This article first to the development of the deposit reserve system, and introduces the basic theory, then through the comparison of foreign and domestic legal deposit reserve system, analysis of China and western countries exists in the system and the economic environment is different, will explain the reason why our country central bank reserve policy as part of their daily control measures. In clear reserve system as one of the most important tool of monetary policy in our country at present, this article use between January2006and May2012monthly data to carry on the empirical test, to explore the deposit reserve of interbank interest rates, money supply, and effect of economic growth targets. Finally, according to the international comparison of the results and the conclusion of the empirical analysis, further study on China’s reserve policy restriction factor and accordingly puts forward corresponding Suggestions. In this paper, the frame structure of roughly:the first part is introduction, introduces the research background and significance of this article, the research status at home and abroad, research content and structure, research methods and other issues; The second part introduction, simply introduces the development process of the deposit reserve system, main content, basic principle and the advantages and disadvantages of the reserve system function analysis; International comparative analysis of the third part of the deposit reserve system, through to the United States, Europe, Japan, and the introduction of the development process of the deposit reserve system in China, reveals will reserve system in our country as one of the most important monetary policy tools. And specific to the countries’ reserve system Settings, such as management object, the structure of the deposit reserve assets, the depreciation method to compare and analysis; The fourth part of our country from2006to2012in the reserve requirement ratio to the empirical analysis, the influence of macroeconomic probe into its specific policy effect; The fifth part studies in the third and the fourth part, on the basis of the optimization of reserve requirement system in China is put forward some Suggestions.