| 1. | Along with the undergoing of economic reform in our country , especially the growth and development in capital market , the bilateral flow of funds between banks and the real economy sections has already been extended to the three - way flow among money market , capital market and the real economy sections . capital market , through property prices , such as bond , foreign exchange , stock and real estate . . . etc . , is playing a more important role in the transmission mechanism of monetary policy
随着我国市场化改革的不断深入,特别是在我国资本市场的培育和发展,资金流动已经由原来的银行部门与实体经济部门之间扩大到货币市场、资本市场与实体经济部门之间,资本市场(通过债券、外汇、股票、房地产等资产价格)在货币政策传导机制中所起的作用越来越大,货币政策的传导链条越来越长,货币政策传导机制越来越复杂,降低了我国货币政策的有效性,我国货币政策的资本市场传导机制逐渐成为货币政策研究的热点和难点。 |
