摘要：只有在不同的经济区具有同质性时，货币政策才能作为货币政策的调控工具发挥相应的作用。现阶段我国不同区域的产业构成、资源流动和经济发展水平等具有显著的差异，其主要原因是地区之间的历史文化、资源优势以及经济发展方针等因素的影响。由于这种区域差异性的存在，统一的货币政策在不同地区会产生不同的效果，这一定会对货币政策的整体有效性产生较大影响。

关键词：货币政策 区域效应 差异化 实证分析

Abstract: Only when different economic zones have homogeneity can monetary policy play the appropriate role of regulating the fiscal policy. At this stage, the industrial structure, resource flow and economic development level in different regions in China have significant differences, mainly due to the impact of historical culture, resource advantage, economic development policy and other factors. The unified monetary policy may produce different effects in different regions owing to these regional differences, which will certainly exert greater influence over the overall effectiveness of the monetary policy.

Key words: fiscal policy     regional effect      differentiation      empirical analysis