This text will discuss the financial reform and the monetary policy in China opens progress since 1979, from it understanding the China government has already opened which financial markets, and discussing the present condition and problems of these financial markets, and analyzing whether these financial markets reach the purpose by the monetary policy that the China government have like to maintain economic growth and price stabilize or not. This text will aim at the commercial bank, stock market, foreign exchange market of China three sections to conduct a research. Commercial bank's lifting the ban gradually has to cause the China authorities face the NPL¡¦s problem of bank, and their bank have to compete with foreign capital bank with functional deficiency. And the open of stock market cause the China residents get bogged down in an investment upsurge, but the not perfect system and corrupt make the China economy appear a bust condition. The reform of exchange rate causes the pressure of China export, and has influence to the domestic monetary policy. At the moment China still is placed in a high economic growth, low inflation stage, but also appears excessive of exports surplus and the monetary credit throws. How to avoid possible inflation and make the economic growth not too boom is the focus that China authorities and the scholars pays attention to.

This paper examines how various monetary policy signals such as official discount rate changes¡Bspeeches and monetary aggregate M2 annual growth rate affect the structure of interest rates in Taiwan. The model of the thesis is based on the Svensson model (1994) which is the extension of the parsimonious model defined by Nelson and Siegel (1987). It is being shown, that the term of interest rates, estimated based on Svensson model result in a fault value for Taiwan, due to a unsound bond market especially in the short term and one-year interest rates. There is no proof that unexpected movements in the short end of the yield curve are mainly driven by unexpected changes in the official discount rate. Speeches are found to be a more important determinant for the longer end of the term structure. The conclusion is that central bank communication is an essential part of the conduct of monetary policy.

Thesis (Ph. D.)--University of Missouri-Columbia, 2001. / Typescript. Vita. Includes bibliographical references (leaves 115-120). Also available on the Internet.

Thesis (Ph. D.)--University of Missouri-Columbia, 2001. / Typescript. Vita. Includes bibliographical references (leaves 107-109). Also available on the Internet.

Thesis (Ph. D.)--University of Missouri-Columbia, 2001. / Typescript. Vita. Includes bibliographical references (leaves 115-120). Also available on the Internet.

Thesis (Ph. D.)--University of Missouri-Columbia, 2001. / Typescript. Vita. Includes bibliographical references (leaves 107-109). Also available on the Internet.

Thesis (Ph. D.)--University of Missouri-Columbia, 2003. / Typescript. Vita. Includes bibliographical references (leaves 115-120). Also available on the Internet.

Thesis (Ph. D.)--University of California, San Diego, 2001. / Vita. Includes bibliographical references (leaves 220-224).

Thesis (Ph. D.)--University of Missouri-Columbia, 2003. / Typescript. Vita. Includes bibliographical references (leaves 115-120). Also available on the Internet.

Thesis (Ph. D.)--York University, 2001. Graduate Programme in Economics. / Typescript. Includes bibliographical references (leaves 101-103). Also available on the Internet. MODE OF ACCESS via web browser by entering the following URL: http://wwwlib.umi.com/cr/yorku/fullcit?pNQ67897.