Real meaning of interest rate marketisation

JI Ya-lan; GU Lei

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Volume 19 Issue 1

Jul. 2017

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Article Navigation > Journal of Zhejiang A&F University > 2002 > 19(1): 76-80

JI Ya-lan, GU Lei. Real meaning of interest rate marketisation[J]. Journal of Zhejiang A&F University, 2002, 19(1): 76-80.

Citation:

JI Ya-lan, GU Lei. Real meaning of interest rate marketisation[J]. Journal of Zhejiang A&F University, 2002, 19(1): 76-80.

Real meaning of interest rate marketisation

JI Ya-lan,
GU Lei

1.
Department of Economics and Management , Zhejiang Forestry College , Lin’an 311300 , Zhejiang , China

Received Date: 2001-08-29
Rev Recd Date: 2001-12-04
Publish Date: 2002-03-20

Abstract

As China officially entered WTO , the reform of interest rate marketisation seems to be inevitable . Before the entry of WTO , Peoples Bank of China (central bank)had worked out a general framework of interest rate marketisation and carried it out by stage .Some currently widespread ideas about interest rate marketisation are inexact .Those prevalent ideas base on new and old liberalism , stress on the importance of equilibrium interest rate and neglect the importance of interest rate structure .But equilibrium interest rate does not exist .So the real meaning of interest rate marketisation should be that central bank determines the basic interest rate level and market makes the interest rate structure .For this aim , it is necessary for China to introduce competition mechanism to the bank industry .
- interest rate marketisation,
- equilibrium interest rate,
- level,
- structure

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通讯作者: 陈斌, bchen63@163.com

1.
沈阳化工大学材料科学与工程学院沈阳 110142

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Real meaning of interest rate marketisation

JI Ya-lan,
GU Lei

1. Department of Economics and Management , Zhejiang Forestry College , Lin’an 311300 , Zhejiang , China

Received Date: 2001-08-29
Rev Recd Date: 2001-12-04
Publish Date: 2002-03-20

Key words:

Abstract: As China officially entered WTO , the reform of interest rate marketisation seems to be inevitable . Before the entry of WTO , Peoples Bank of China (central bank)had worked out a general framework of interest rate marketisation and carried it out by stage .Some currently widespread ideas about interest rate marketisation are inexact .Those prevalent ideas base on new and old liberalism , stress on the importance of equilibrium interest rate and neglect the importance of interest rate structure .But equilibrium interest rate does not exist .So the real meaning of interest rate marketisation should be that central bank determines the basic interest rate level and market makes the interest rate structure .For this aim , it is necessary for China to introduce competition mechanism to the bank industry .

JI Ya-lan, GU Lei. Real meaning of interest rate marketisation[J]. Journal of Zhejiang A&F University, 2002, 19(1): 76-80.

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JI Ya-lan, GU Lei. Real meaning of interest rate marketisation[J]. Journal of Zhejiang A&F University, 2002, 19(1): 76-80.

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1. Department of Economics and Management , Zhejiang Forestry College , Lin’an 311300 , Zhejiang , China

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