Resource title

Monetary Policy in China (1994-2004) : Targets, Instruments and their Effectiveness

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Resource description

China's monetary policy disposes of two sets of monetary policy instruments: Instruments of the central bank, the People's Bank of China (PBC) and non-monetary policy instruments. Additionally, the PBC's instruments include price-based indirect and quantity-based direct instruments. The simultaneous usage of these instruments leads to various distortions that ultimately prevent the interest rate channel of monetary transmission from functioning. Moreover, the strong influences of quantity-based direct instruments and non-monetary policy instruments question the approach of indirect monetary policy in general.

Resource author

Michael Geiger

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/22361

Resource license

Adapt according to the presented license agreement and reference the original author.