Economics, Econometrics and Finance
4 years ago

China's Changing Financial Landscape Sparks Shift in Money Demand Patterns.

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RePEc: Research Papers in Economics
Broad Money Demand and Asset Substitution in China
Ge Wu

Paper Summary

Recent changes in China's financial system have led to a stable broad money demand function, considering asset substitution. Income has a bigger impact on money demand than inflation. Interest rates and exchange rates don't affect money demand much, but expectations of a stronger renminbi increase money demand. Stock prices don't have a significant impact on money demand.

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