Decai, Zhou¹-Lujun, Hong²-Zhengyi, Jiang^3*

(1. School of Economics and Management, Nanchang University; 2. School of Science, Nanchang University;

3. School of Economics and Management, Nanchang University; School of Economics and Management, Nanchang University, Nanchang, China PR 973918594@QQ.COM)

Abstract: On the issue of correlativity between monetary policy and economic growth, this article firstly concludes the study results done by foreign and domestic scholars; then, based on the latest economic data like interest rate, exchange rate, bank credit and asset price, this article constructs China’s real Financial Condition Index by using VAR model; further, this article uses spectrum analysis to study the relationship between FCI and economic growth and reaches the conclusion that monetary policy changes in consistent with and goes ahead of economic growth; lastly, this article raised some policy suggestions based on history of China’s monetary policy.

本文已发表在《Research Journal of Applied Sciences, Engineering and Technology》