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. (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided)
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.
|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:||22 Apr 2014 13:23|
|Resource URI:||https://kar.kent.ac.uk/id/eprint/23605 (The current URI for this page, for reference purposes)|