By using the way of thinking and methods in that of Karras for reference, taking the VAR framework of vector autoregression and with Eviews 2.0, this article makes an empirical analysis of yearly data about output, price and openness since the reform and opening of China to check the influence of economic openness on the volume effect of monetary policy.
As to the difference affecting between the self-effect and spillovers of FDI, four factors, such as technologic disparity degree, economic opening, RMB's exchange rate and economic liberalization, are more effective in affecting the latter than the former while financial market especially credit market and the degree of deviating from appropriate scale of FDI act conversely and other factors have no remarkably different effect to them.
(6) Based on open economy, this paper constructs a systematic indexes to measure economic open degree in China, and this systematic indexes concludes indexes of process measurement and result measurement. (7) Open degree of goods trade in China is relatively high. From the open process, open degree of service trade in China is higher than developing countries but lower than developed countries;