A comparative study of China's macroeconomic regulation in the 1980s and 1990s

Fiscal and monetary policy plays important role in macroeconomic regulation. Before 1980s there were no fiscal and monetary policies in real sense because of the central plan adopted by Chinese government in running its economy. It was only after 1978 that the government began to use fiscal and monetary measures to regulate its economy and the policies and their mix changed in regard to economic condition of the last two decades. In this article, the author analyzed the features of fiscal and monetary policies in 19980s and 1990s by comparing the dynamic, orientation and structure of macroeconomic regulation is this two periods. On the basis of comparison, the author went further to sum up experiences and lessons, and the conclusion drawn from the analysis may provide some theoretical support to China's macroeconomic regulation in the future.