An Empirical Study On Impact Of Lao's Monetary Policy On Economic Growth

Research on monetary policy and economic activity are closely related,and is even more closely linked with a country's actual economic situation.In the literature of modern western monetary theory,the study on the role of monetary policy consists of two components:First,if monetary policy can affect economic performance.Second,the impact of monetary policy on the economy variables,namely,how policy conduct the variables.The study on monetary policy transmission should also start from these two aspects.This paper mainly analyzes the factor of Lao's monetary policy on economic growth.First of all,it states the background and meaning of the thesis,then introduces relevant researches about monetary policy home and abroad,and illustrates the research approach,innovation and deficiency.Besides,this paper introduces monetary policy theory,effectiveness of monetary theory,monetary transmission mechanism theory.Then,it illustrates the development of Lao's monetary policy and its existing problems,states the transmission mechanism of monetary policy.Next,give a quantitative analysis of factor of Lao's monetary policy on economic growth by ECM model,unit root test and Cointegration test and Granger test.Last but not leasts based on the above analysis,it gives some suggestions to Lao's monetary policy for a continuous,stable,healthy economy.