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Towards Estimating the Demand for Money in China

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  • Yi, Gang

Abstract

The demand for money in China is estimated separately for the periods before and after the economic reform. Besides the traditional transactions demand variable, the expected rate of inflation (as a measure of the opportunity cost of holding money) and the monetization process are also incorporated into the demand function. The preliminary results show that the demand for money in China has changed in response to the institutional changes during the economic reform. Adding the monetization and inflation expectation variables into the money demand function has enhanced significantly its explanatory power. Copyright 1993 by Kluwer Academic Publishers

Suggested Citation

  • Yi, Gang, 1993. "Towards Estimating the Demand for Money in China," Economic Change and Restructuring, Springer, vol. 26(3), pages 243-270.
    • Handle: RePEc:kap:ecopln:v:26:y:1993:i:3:p:243-70
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    Cited by:

    1. Xu, Yingfeng, 1998. "Money Demand in China: A Disaggregate Approach," Journal of Comparative Economics, Elsevier, vol. 26(3), pages 544-564, September.
    2. Wang, Yijiang & Chang, Chun, 1998. "Economic transition under a semifederalist government: The experience of China," China Economic Review, Elsevier, vol. 9(1), pages 1-23.
    3. Geneviève BOYREAU-DEBRAY, 1998. "Money Demand and the Potential of Seigniorage in China," Working Papers 199821, CERDI.
    4. Sahar Bahmani & Ali Kutan, 2010. "How stable is the demand for money in emerging economies?," Applied Economics, Taylor & Francis Journals, vol. 42(26), pages 3307-3318.
    5. repec:wyi:journl:002133 is not listed on IDEAS
    6. Ge Wu, 2009. "Broad Money Demand and Asset Substitution in China," IMF Working Papers 2009/131, International Monetary Fund.
    7. Zuo, Haomiao & Park, Sung Y., 2011. "Money demand in China and time-varying cointegration," China Economic Review, Elsevier, vol. 22(3), pages 330-343, September.

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