{"title":"Analysis on the Influence of Shadow Banking on the Effectiveness of China's Monetary Policy","authors":"Yun-dal Sun, Xiangyu Chen, Shaosong Wang","doi":"10.2991/iceess-19.2019.33","DOIUrl":null,"url":null,"abstract":"After more than ten years of development, shadow banking has formed a certain scale in China, during this period, the effectiveness of monetary policy to the market economy also promoted; at the same time, the shadow banking has also caused both advantages and disadvantages. In this paper, we exam 141 sets of monthly data from January 2007 to September 2018 explore a better implementation of monetary policy and the status quo of China's shadow banking management. We find that shadow banking and monetary policy have a strong negative relationship in the short term, but the long-term negative correlation is weak but the impact time is long. Keywords—Shadow Banking; Monetary Policy; Effectiveness; VAR model","PeriodicalId":318820,"journal":{"name":"Proceedings of the 2019 2nd International Conference on Education, Economics and Social Science (ICEESS 2019)","volume":"57 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2019-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Proceedings of the 2019 2nd International Conference on Education, Economics and Social Science (ICEESS 2019)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2991/iceess-19.2019.33","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
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Abstract
After more than ten years of development, shadow banking has formed a certain scale in China, during this period, the effectiveness of monetary policy to the market economy also promoted; at the same time, the shadow banking has also caused both advantages and disadvantages. In this paper, we exam 141 sets of monthly data from January 2007 to September 2018 explore a better implementation of monetary policy and the status quo of China's shadow banking management. We find that shadow banking and monetary policy have a strong negative relationship in the short term, but the long-term negative correlation is weak but the impact time is long. Keywords—Shadow Banking; Monetary Policy; Effectiveness; VAR model
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