Money Demand in China: A Banking Approach
نویسنده
چکیده
China has been enjoyed a fast economic growth in the last three decades. One of the important reasons is its financial reform and development in banking sector. More and more foreign banks and nonstate-owned banks participate into the competition in banking industry. The productivity of banking sector keeps growing dramatically during the golden decade between the 1997 Asian financial crisis and the 2008 financial crisis. Undoubtedly, the development in financial system will have significant effects on the monetary economy, especially on money demand. This paper strives to incorporate this important factor into the study of money demand in China.
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