Research On The Independence Of The Central Bank’s Legal Status

For some time,the independence of the central bank has been a hot topic,whether at home or abroad,from the real sector to the academic world.Since people are more aware of the impact of monetary policy in real life,the main object of monetary policy is the central bank.Therefore,the study on the independence of the people’s bank of China has a very important theoretical and practical significance.It is generally believed that the central bank independence is the point at which the central Banks to fulfill their duties law giving or actual have power,decision-making and independent degree of action,the essence of which is the relationship between the central bank and the government.The central bank has had a history of more than 300 years.The early central Banks were led by dishonest money that led to inflation and continued to evolve.Along with the evolution of the function of central bank,its independence also shows the tendency of strengthening.In this paper,based on the analysis comparison to other countries,the central bank independence,and to sort out the related theory of central bank independence and the performance of the lack of independence of the people’s bank of China was analyzed,and puts forward some Suggestions of further perfecting the independence of the people’s bank of China.The independence of the central bank is the game process of a choice system.We can often find in the process of institutional selection that it is difficult to judge which is the best choice.System selection is adapted to the economic base,and adapt to the system design at the top of a country,its never independence from its basic system exist,and these factors in different countries and different parts of the difference is obvious.Therefore,the system design of central bank is different.Even if the two systems are the same,their central bank independence is different because of their national habit,development stage,natural endowment and other basic conditions.However,the independence of the central bank is strong and weak.The strong independence of the bundesbank and the weak independence of Japan have their own advantages and disadvantages in different historical stages.Therefore,the independence of the central bank is essentially a process of system selection,which depends on which system the country chooses,which is bound to be related to the formulation and implementation of monetary policy.When we look at the institutional options for central bank independence,we find it undesirable to transplant these models directly into China’s financial system and institution-building.We must conscientiously study the independence of the central bank from theory and practice,and realize the independence of the central bank by combining with the actual practice of China.