Endogenous Money Supply: Evidence from China

摘要：

The essay describes the performances of endogenous money supply under different periods in China and argues that the endogenous money supply leads to the difficult situation of Chinas monetary policy. Using Granger Causality Test, the paper finds that the change in economic output may lead to changes in the money supply. Using Johansen Cointegration Test, the paper verifies the relationship between Position for Forex Purchase and Claims on Other Depository Corporations with Money Base. The finding suggests that economic growth may lead to the increase of money supply, and the money supply may lead to the increase of money base. It also implies the Position for Forex Purchase is a key determinant of money supply.

关键词： endogenous money supply china causality test Johansen cointegration test

作者: Chen Cheng Wu Lei

作者单位: Wuhan University of Technology, Wuhan, P.R.China,430070 Economic and Management School, Wuhan Univer Economic and Management School, Wuhan University, Wuhan, P.R.China, 430072

会议类型: 国际会议

会议名称: 4th International Conference on Productinnovation Management(第四届产品创新管理国际会议)

会议地点: 武汉

会议语种:英文

页码: 1259-1264

在线出版日期: 2009-08-22（万方平台首次上网日期，不代表论文的发表时间）