The Mainland China''s Demand for Money- An Empirical Study Considering the Finance Demand
碩士 === 國立中山大學 === 大陸研究所 === 87 === The objective of this thesis is to investigate the demand for money in China. In contrast to traditional monetory theory that usually takes perfect capital market as granted which is unsuitable for the case of China, this research takes the two unique characteristi...
| Main Authors: | , |
|---|---|
| Other Authors: | |
| Format: | Others |
| Language: | zh-TW |
| Published: |
1999
|
| Online Access: | http://ndltd.ncl.edu.tw/handle/56683824744899261147 |
| Summary: | 碩士 === 國立中山大學 === 大陸研究所 === 87 === The objective of this thesis is to investigate the demand for money in China. In contrast to traditional monetory theory that usually takes perfect capital market as granted which is unsuitable for the case of China, this research takes the two unique characteristics of China into consideration: a centrally planned and underdeveloped economy.
Taking both the financial demand theory that we demonstrated by Li(1995) and the effect of structural change in China which is represented by a process of monetization into consideration, we formulated a demand for money function and take the empirical study using annual data for the period 1978-1997. Other relevant theories are also tested by the same set of data.
The result of the study shows that besides regular liquidity preference, both financial money demand and an extra money demand caused by structural change during the economic reform also play important roles in the demand for money in China.
|
|---|