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Research On Influence Of Shadow Bank On Chinese Monetary Policy

Posted on:2020-01-06Degree:MasterType:Thesis
Country:ChinaCandidate:C LiFull Text:PDF
GTID:2439330575455897Subject:Finance
Abstract/Summary:PDF Full Text Request
Whether it is the previous "black swan" incident or the "gray rhino" incident today,shadow banks can be found.Shadow banks gradually come from behind the scenes to the front desk.With the rapid development of shadow banks,all sectors of society have paid more and more attention to shadow banks.Studying the influence of shadow banks on the effects of monetary policy is beneficial to the overall control of the financial market by the monetary authorities,and is conducive to the formulation of monetary policy and the monetary supervision of shadow banks,draw on advantages and avoid disadvantages,and shadow banks and the national economy can develop healthily.Based on above analysis,this thesis studies the influence of shadow banking on the development of Chinese monetary policy.The first part is the background of the topic,the purpose and significance of the research,the research thoughts and content structure and the research methods,and it summarizes the relevant research literature.The second part mainly discusses the definition,organization and development status of shadow bank and the cause of development of shadow bank.The third part mainly reviews the influence of shadow bank on the monetary policy,including tool,the intermediary target,the monetary policy transmission mechanism and the final target.The fourth part mainly analyzes the influence of shadow banking on monetary policy tools,intermediary goals,and intermediary goals,and the influence of intermediary goals on final goals through the construction of VAR models.The conclusion show that shadow banking weakens the effect of monetary policy tools.It hinders the conduction ability of the intermediary target.By comparing the degree of influence of interest rate and money supply on the final target.It is concluded that the interest rate-based intermediary target is superior to the monetary policy-based intermediary target,thus affecting the expected effect of the final target.Based on the empirical conclusions,the thesis puts forward the idea of cutting off and integrating shadow banks and commercial banks,the operability and implementation of monetary policy tools in the monetary policy transmission mechanism are improved,the layout of intermediary targets is changed,and theregulatory feedback mechanism is established,which make supervision become not only one-way supervision,but two-way bottom of supervision and countermeasures.
Keywords/Search Tags:Shadow banking, Monetary policy, VAR model, Interest rate
PDF Full Text Request
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