Money, output, price and causality in mainland China

Hasan, Mohammad S and Taghavi, Majid (1996) Money, output, price and causality in mainland China. Applied Economics Letters, 3 (2). pp. 101-105. ISSN 1350-4851. (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)

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This paper re-examines the relationship between money and other macroeconomic variables in mainland China. The results of a four-variable VAR analysis are indicative of a bi-directional causality between narrow money supply and real income. However, contrary to most research work in this area, the findings support a uni-directional causality from broad money to real income, making the former a good intermediate target variable. Moreover, these results cast serious doubts about the relevance of the quantity theory of money for price determination in China.

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 12:50
Last Modified: 27 Jan 2010 12:50
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