我国区域经济波动对货币政策效力影响的实证分析

本文研究表明,北部、东部和南部等经济较发达地区与总量经济发展能够保持较高同步性,西北等经济欠发达地区则呈现较强的独立性特征;经济较发达地区与总量经济的关系呈现出在扩张期同步性较强、在紧缩期同步性较差的特点,紧缩期对经济欠发达地区影响更为显著;货币政策在不同地区效力不同,东部地区对利率政策具有较高的敏感性,资金推动仍是全国大部分地区经济发展的主要动力。

An Empirical Analysis of the Influence of Regional Economic Fluctuation on the Effectiveness of Monetary Policy in China

The research in this paper shows that the developed zones such as the northern region, the eastern region and the southern region are in conformity with gross economic development, and the less developed northwestern area has independent economic step; developed zones are in conformity with gross economic step in expanding period and in unconformity with national economic step in constrictive period, and the constrictive period has more obvious influence on the less developed zones; the effectiveness of monetary policy is different in different regions of China; the Eastern region is more sensitive to interest rate policy and fund is still the motivity of economic development in most areas of China.