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Remaking Monetary Policy in China

2019-08-16 Business & Economics
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Release : 2019-08-16
Genre : Business & Economics
Kind : eBook
Book Rating : 260/5 ( reviews)

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Book Synopsis Remaking Monetary Policy in China by : Michael Beggs

Download or read book Remaking Monetary Policy in China written by Michael Beggs. This book was released on 2019-08-16. Available in PDF, EPUB and Kindle. Book excerpt: This book covers the recent history of Chinese monetary policy. While most current work focuses on This book traces and explains the evolution of Chinese monetary policy in the years before 2008. The turn towards interest rate deregulation and market-oriented policy in China in recent years is often seen as a break with former command-and-control policy norms, in favour of Western central banking norms. We argue that Chinese monetary policy already went through a transformation under the influence of ‘new consensus’ macroeconomics after 1998, but that this surprisingly led to increased reliance on direct banking controls in the 2000s. Therefore, many of the controls that look to many like a remnant of central planning are in fact an outcome of an earlier attempt to ‘rationalise’ monetary policy, in unusual Chinese conditions. Specifically, policy returned to direct controls because of an underdeveloped interbank money market, and a glut of bank liquidity associated with enormous foreign exchange inflows in the mid-2000s.

Remaking the Chinese Leviathan

2004 Political Science
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Release : 2004
Genre : Political Science
Kind : eBook
Book Rating : 934/5 ( reviews)

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Book Synopsis Remaking the Chinese Leviathan by : Dali L. Yang

Download or read book Remaking the Chinese Leviathan written by Dali L. Yang. This book was released on 2004. Available in PDF, EPUB and Kindle. Book excerpt: This book examines a wide range of governance reforms in the People's Republic of China, including administrative rationalization, divestiture of businesses operated by the military, and the building of anticorruption mechanisms, to analyze how China's leaders have reformed existing institutions and constructed new ones to cope with unruly markets, curb corrupt practices, and bring about a regulated economic order.

China’s Monetary Policy and Interest Rate Liberalization

2014-05-01 Business & Economics
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Release : 2014-05-01
Genre : Business & Economics
Kind : eBook
Book Rating : 298/5 ( reviews)

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Book Synopsis China’s Monetary Policy and Interest Rate Liberalization by : Wei Liao

Download or read book China’s Monetary Policy and Interest Rate Liberalization written by Wei Liao. This book was released on 2014-05-01. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Reforms in China's Monetary Policy

2014-01-14 Science
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Release : 2014-01-14
Genre : Science
Kind : eBook
Book Rating : 898/5 ( reviews)

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Book Synopsis Reforms in China's Monetary Policy by : Sun Guofeng

Download or read book Reforms in China's Monetary Policy written by Sun Guofeng. This book was released on 2014-01-14. Available in PDF, EPUB and Kindle. Book excerpt: China's financial reforms have undergone a large-scale transformation over the past several years. This book aims to outline the structure and current features of China's monetary policy, drawing upon the author's years of experience working within the People's Bank of China and insider's view of the decision-making process.

China's Opening-up

2011 China
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Release : 2011
Genre : China
Kind : eBook
Book Rating : 186/5 ( reviews)

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Book Synopsis China's Opening-up by : Fan Zhiyong

Download or read book China's Opening-up written by Fan Zhiyong. This book was released on 2011. Available in PDF, EPUB and Kindle. Book excerpt: This series covers a wide range of economic issues related to contemporary China. Tracking the future trend in China's economic development, this account discusses monetary policy, fiscal policy, the growth of regional economies, and industrial and banking developments.

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