Estimating the money demand function in China : was the Chinese Central Bank targeting too high a monetary growth rate ?

• Main Authors: Chen, Qiancai, Lin, Nanzheng, Zhuo, Xiangyu
• Other Authors: Yip Sau Leung
• Format: Final Year Project
• Language: English
• Published: 2017
• Subjects: DRNTU::Social sciences::Economic development::China
• Online Access: http://hdl.handle.net/10356/70377
• Institution: Nanyang Technological University

This report checks whether the money supply target chosen by the People’s Bank of China (PBoC) over the past twenty years contributed to higher inflation in China. Given that China’s average M2 growth was 17.6%, and China’s average real GDP growth was 9.5% during this period, the answer will depend...