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Overview of the Evolution of China's Central Bank and Monetary Policy: Correlation to the European Union

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  • Skold, Alida S.

Abstract

As 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.

Suggested Citation

  • Skold, Alida S., 2011. "Overview of the Evolution of China's Central Bank and Monetary Policy: Correlation to the European Union," MPRA Paper 33608, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:33608
    as

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    References listed on IDEAS

    as
    1. Christopher Crowe & Ellen E. Meade, 2007. "The Evolution of Central Bank Governance around the World," Journal of Economic Perspectives, American Economic Association, vol. 21(4), pages 69-90, Fall.
    2. Dennis Tao Yang & Junsen Zhang & Shaojie Zhou, 2012. "Why Are Saving Rates So High in China?," NBER Chapters, in: Capitalizing China, pages 249-278, National Bureau of Economic Research, Inc.
    3. Alven H.S. Lam, 2000. "Republic of China (Taiwan)," American Journal of Economics and Sociology, Wiley Blackwell, vol. 59(5), pages 327-336, November.
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    More about this item

    Keywords

    China; central bank; monetary policy; inflation; economy;
    All these keywords.

    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

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