Hasan, Mohammad S (2001) The behaviour of the currency-deposit ratio in mainland China. Applied financial economics, 11 (6). pp. 659-668. ISSN 0960-3107.
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Abstract
This paper investigates the behaviour of the currency-deposit ratio in mainland China in the light of three theoretically identified factors: income growth, interest rate movements and inflationary expectations. It was found that the unprecedented decline in the currency-deposit ratio is unambiguously determined by a secular growth in income, whilst the role of interest rates and inflationary expectations is at variance across specifications and sample period. However, the observed variation of the currency-deposit ratio attributed primarily to income and secondarily to interest rates make the money multiplier endogenous.
| Item Type: | Article |
|---|---|
| Subjects: | H Social Sciences |
| Divisions: | Faculties > Social Sciences > Kent Business School > Accounting and Finance |
| Depositing User: | Rebecca Stevenson |
| Date Deposited: | 27 Jan 2010 11:28 |
| Last Modified: | 27 Jan 2010 11:28 |
| Resource URI: | http://kar.kent.ac.uk/id/eprint/23605 (The current URI for this page, for reference purposes) |
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