关键词: 经济增长 , 通胀膨胀 , 门槛效应 , 平滑转换

Abstract: By applied the dynamic panel smooth transition model, this paper found the nonlinear threshold effects of inflation on economic growth in China. The values of threshold increased and the inflation effects on growth decreased from the eastern, to the middle and to the western part of China.When inflation kept at are lative low level, moderate inflation had positive effects on economic growth. As while as inflation increased, the inflation of the same year still had positive effects, but the inflation of last year had negative effects.The relationship between inflation and economic growth showed U-shape. Additionally, the sustainability of economic growth was also influenced by inflation, and showed different characteristics in different part of China. Therefore the central bank of China should lower inflation for economic growth, and carry out different monetary policies in different regions.

Key words: economic growth , inflation , threshold effects , smooth transition