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Empirical Analysis of Influences of China's Fictitious Economy on Money Supply

机译:中国虚拟经济对货币供应量影响的实证分析

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摘要

The influences of the price level, trade and velocity of money circulation of fictitious economy on money supply appeared gradually. Empirical analysis of the influences of Chinaȁ9; s fictitious economy on money supply was given by using the monthly data from April 1998 to December 2008 based on the actual development of Chinese economy and theory of money demand. The results show that there is cointegration relationship between Chinaȁ9; s fictitious economy and money supply in the long term; and there is no Granger cause between the variables the turnover of repo. trading of treasury bonds, the turnover of investment of futures and securities trading and the money supply in the short term other than the others fictitious variables. Therefore, the results indicate that there are interaction influences between the development of Chinaȁ9; s fictitious economy and money supply in the long term, and there is a long-term mechanism of interaction promotion between them.
机译:虚拟经济的价格水平,贸易和货币流通速度对货币供应的影响逐渐显现。中国ȁ9影响的实证分析;根据中国经济的实际发展情况和货币需求理论,采用1998年4月至2008年12月的月度数据,得出了关于货币供应量的虚拟经济。结果表明,中国ȁ9之间存在协整关系。长期的虚拟经济和货币供应;回购交易额的变量之间没有格兰杰因果。除其他虚拟变量外,短期内的国债交易,期货和证券交易的投资周转率以及货币供应量。因此,结果表明中国9的发展之间存在相互作用的影响。虚拟经济和货币供应是长期的,它们之间存在一种促进互动的长效机制。

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