ebooks and download videos Search All  Title  Author 
Home / Nonfiction / Business & Economics / Finance

China's Monetary Policy and Interest Rate Liberalization: Lessons from International Experiences

| £7.50 | €8.43 | Ca$12.17 | Au$12.01
by Wei Liao & Sampawende J. -A. Tapsoba
What is this?DRM-EPUB | by download   add to wish list
China's Monetary Policy and Interest Rate Liberalization: Lessons from International Experiences by Wei Liao & Sampawende J. -A. Tapsoba

China has been moving to a more market oriented financial system, which has implications for the monetary policy environment. The paper investigates the stability of the money demand function (MDF) in light of progress in financial sector reforms that, for example, have resulted in significant financial innovation (so-called shadow banking) and more liberalized interest rates. The analysis of international experience suggests that rapid development of the financial system often leads to structural shifts in the MDF. For example, financial innovation and liberalization alter the sensitivity of money balances to income and the interest rate. For China, we find that the stable long-run relationship between money demand, output, and interest rates that existed between 2002 and 2008 disappears after 2008. This coincides with the period of rapid financial innovation, especially the growth in off-balance sheet and nonbank financial intermediation. The results suggest that usefulness of M2 as an intermediate monetary target has declined with financial innovation and reform. A result that underscores the importance of moving toward increased reliance on more price-based targets such as interest rates.

To view this DRM protected ebook on your desktop or laptop you will need to have Adobe Digital Editions installed. It is a free software. We also strongly recommend that you sign up for an AdobeID at the Adobe website. For more details please see FAQ 1&2. To view this ebook on an iPhone, iPad or Android mobile device you will need the Adobe Digital Editions app, or BlueFire Reader or Txtr app. These are free, too. For more details see this article.

SHARE  Share by Email  Share on Facebook  Share on Twitter  Share on Linked In  Share on Delicious
or call in the US toll free 1-888-866-9150 product ID: 639064

Ebook Details
Pages: 24
Size: 822 KB
Date published:   2014
ISBN: 9781484366448 (DRM-EPUB)

DRM Settings
Copying:of 20 selections every 20 days allowed
Printing:of 20 pages every 20 days allowed
Read Aloud:  not allowed

This product is listed in the following categories:

Nonfiction > Business & Economics
Nonfiction > Business & Economics > Finance

These authors have products in the following categories:

Nonfiction > Business & Economics
Nonfiction > Business & Economics > International > Economics
Nonfiction > Business & Economics > Development > Economic Development
Nonfiction > Business & Economics > Finance
Nonfiction > Business & Economics > Economics
Nonfiction > Business & Economics > Economics > Macroeconomics

If you find anything wrong with this product listing, perhaps the description is wrong, the author is incorrect, or it is listed in the wrong category, then please contact us. We will promptly address your feedback.

© 2016