Overview of the Evolution of China's Central Bank and Monetary Policy: Correlation to the European Union
AbstractAs an innovator in the financial system, China was the first to use paper currency. Eventually the form of currency was held responsible for devastating inflation and was abandoned during the Ming Dynasty. Going forward in time, uprisings and discontent have emphasized the importance of controlling inflation. The central bank is pivotal in issuing monetary policy to control inflation and to maintain financial stability as the government transforms itself from a planned economy to a mixed market economy. The transforming economy is moving toward a free market system through series of economic reforms. The correlation between China’s structure and the European Union’s structure provides opportunities for further study to determine next steps for both.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 33608.
Date of creation: 17 Jul 2011
Date of revision:
China; central bank; monetary policy; inflation; economy;
Find related papers by JEL classification:
- E0 - Macroeconomics and Monetary Economics - - General
- H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
- E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-10-01 (All new papers)
- NEP-CBA-2011-10-01 (Central Banking)
- NEP-MAC-2011-10-01 (Macroeconomics)
- NEP-MON-2011-10-01 (Monetary Economics)
- NEP-TRA-2011-10-01 (Transition Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Dennis Tao Yang & Junsen Zhang & Shaojie Zhou, 2010.
"Why are Saving Rates so High in China?,"
312010, Hong Kong Institute for Monetary Research.
- Yang, Dennis Tao & Zhang, Junsen & Zhou, Shaojie, 2011. "Why Are Saving Rates So High in China?," IZA Discussion Papers 5465, Institute for the Study of Labor (IZA).
- Dennis Tao Yang & Junsen Zhang & Shaojie Zhou, 2011. "Why Are Saving Rates so High in China?," NBER Working Papers 16771, National Bureau of Economic Research, Inc.
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