• 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>The Singapore economic review >DOES RESERVE ACCUMULATION LEAD TO ENDOGENOUS MONEY SUPPLY IN CHINA?
【24h】

DOES RESERVE ACCUMULATION LEAD TO ENDOGENOUS MONEY SUPPLY IN CHINA?

机译：保留积累是否导致中国内源性货币供应？

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

This study investigates the causality between reserve accumulation and money supply in China over the period of 2000:01-2016:11. The bootstrap Granger full-sample and sub-sample rolling window causality tests are utilized. The full-sample test supports that reserve accumulations lead to significant endogenous money supply. However, the sub-sample test suggests that the endogenous money supply caused by reserve accumulations mostly existed before 2007 when China implemented a compulsory exchange settlement system. Structural changes also exist as a result of the impacts of excess money supply and reserve accumulations, which suggests specific backgrounds should be taken into account when investigating this issue. The rolling window causality test provides a more accurate result when considering structural changes, which proves reserve accumulations are more likely to cause endogenous money supply in a compulsory exchange settlement system. The significant difference before and after 2007 suggests that the ending of the compulsory exchange settlement system is helpful to improve the monetary policy independence.
机译：本研究调查了2000年期间在中国的储备积累和货币供应之间的因果关系：01-2016：11。使用Bootstrap Granger全样品和子样本滚动窗口因果试验。全样本测试支持储备累积导致显着的内源性货币供应。但是，子样本测试表明，当中国实施强制交换结算系统时，由储备累积造成的内源性货币供应主要存在。由于过度货币供应和储备累计的影响，结构变化也存在，这表明在调查此问题时应考虑具体背景。在考虑结构变化时，滚动窗口因果试验提供了更准确的结果，这证明了储备累积更有可能在强制交换结算系统中引起内源性货币供应。 2007年之前和之后的显着差异表明，义务交流解决系统的结束有助于改善货币政策独立性。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号