EconPapers    
Economics at your fingertips  
 

Impact of the Joint-Stock Reform of Commercial Banks on the Effectiveness of Monetary Policy in China

Xianming Fang Author-Email: Fxmfxm@nju.edu.cn
Additional contact information
Xianming Fang Author-Email: Fxmfxm@nju.edu.cn: Department of Finance and Insurance, Nanjing University, Nanjing, China Author-Name: Yu Jiang Author-Email: yujiang@nju.edu.cn

Panoeconomicus, 2016, vol. 63, issue 3, 325-338

Abstract: Over the past decade, the Chinese government has conducted the joint-stock reform of state-owned commercial banks. The joint-stock reform improves the marketization level of the ownership structure of commercial banks and consequently leads to impacts on the effectiveness of monetary policy. This paper first presents the impacting mechanisms of the joint-stock reform of commercial banks on the effectiveness of monetary policy and then constructs an empirical model to test those impacts. The empirical results show that the increasing degree of joint-stock reform of commercial banks enhances the effectiveness of expansionary monetary policy but weakens the effective- ness of contractionary monetary policy in China.

Keywords: Commercial banks; Joint-stock reform; Monetary policy; Price level; China.. (search for similar items in EconPapers)
JEL-codes: E31 G21 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.panoeconomicus.rs/casopis/2016_3/05%20X ... and%20Yu%20Jiang.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:voj:journl:v:63:y:2016:i:3:p:325-338

Access Statistics for this article

Panoeconomicus is currently edited by Kosta Josifidis

More articles in Panoeconomicus from Savez ekonomista Vojvodine, Novi Sad, Serbia
Bibliographic data for series maintained by Ivana Horvat (). This e-mail address is bad, please contact .

 
Page updated 2020-06-20
Handle: RePEc:voj:journl:v:63:y:2016:i:3:p:325-338