Research on the Impact of Monetary Policy on the Quality of Economic Growth in the New Normal------Empirical analysis based on Panel Data

Abstract

The game between the growth rate and quality of the Chinese economy under the conditions of the new normal economy is a hot and difficult issue in the current new normal of socialist economic development with Chinese characteristics. Traditional monetary policy regulation focuses on the regulation of the rate of economic growth. The new changes in the current economic development situation are more inclined to promote the improvement of the quality of economic growth. Therefore, how to adapt to the new normal of economic development has put forward new requirements for the regulation and reform of monetary policy. Based on the relationship between China’s monetary policy regulation and the quality of economic growth under the conditions of the new normal economy, this paper selects statistical data on monetary policy regulation and the quality of economic development and growth from 2001 to 2016 to construct a dynamic panel data model of the economy and regulate monetary policy Predictive analysis with the quality of economic growth. The results show that after 2016, the economic growth rate has further slowed down and the quality of economic growth has improved significantly. In particular, it has been found that the contribution rate of the three industries after 2013 has increased significantly year-on-year. Optimize and upgrade.