The Resource Reforming China's Monetary Policy Framework to Meet Domestic Objectives, Paul Conway, Richard Herd and Thomas Chalaux, (electronic resource)

Reforming China's Monetary Policy Framework to Meet Domestic Objectives, Paul Conway, Richard Herd and Thomas Chalaux, (electronic resource)

Label
Reforming China's Monetary Policy Framework to Meet Domestic Objectives
Title
Reforming China's Monetary Policy Framework to Meet Domestic Objectives
Statement of responsibility
Paul Conway, Richard Herd and Thomas Chalaux
Creator
Contributor
Subject
Language
eng
Summary
As a result of reforms and financial sector development, the People's Bank of China (PBoC) now exerts significant control over money market interest rates. With money market conditions increasingly influencing effective commercial lending rates, the PBoC is also able to affect the cost of credit without recourse to its benchmark commercial bank rates. Furthermore, interest rates are an important determinant of investment spending in China, via the user cost of capital, and aggregate economic activity influences inflation. Hence, greater use of interest rates in implementing monetary policy would enhance macroeconomic stabilisation while avoiding a number of drawbacks of the current quantity-based approach. In addition, increased flexibility in the exchange rate would enhance its role in offsetting macroeconomic shocks and allow the PBoC more scope to tailor monetary policy to domestic macroeconomic conditions. Concurrently, changes in the PBoC's policy stance should be predicated on informed judgments based on the monitoring of a set of indicators in conjunction with a flexible inflation objective as the nominal anchor. This paper relates to the 2010 OECD Economic Review of China (www.oecd.org/eco/surveys/china)
Member of
Cataloging source
FR-PaOEC
http://library.link/vocab/creatorName
Conway, Paul
Government publication
international or intergovernmental publication
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
  • Herd, Richard
  • Chalaux, Thomas
Series statement
OECD Economics Department Working Papers,
Series volume
no.822
http://library.link/vocab/subjectName
  • Economics
  • China (People's Republic of)
Label
Reforming China's Monetary Policy Framework to Meet Domestic Objectives, Paul Conway, Richard Herd and Thomas Chalaux, (electronic resource)
Instantiates
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
762089425
Dimensions
21 x 30 cm
Extent
1 online resource 51 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5km32vmsq6f2-en
Specific material designation
remote
System control number
(OCoLC)762089425
Label
Reforming China's Monetary Policy Framework to Meet Domestic Objectives, Paul Conway, Richard Herd and Thomas Chalaux, (electronic resource)
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
762089425
Dimensions
21 x 30 cm
Extent
1 online resource 51 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5km32vmsq6f2-en
Specific material designation
remote
System control number
(OCoLC)762089425

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