Three essays on monetary policy and economic growth in China

This article consists of three articles that consider various important macroeconomic issues that are concerned about the Chinese economy. Analyzes supporting empirical research are inspired by Post Keynesian theory. Chapter 1 proposes endogenous disinfection mechanisms by expanding demand - driven money supply theory to China. The fact that foreign exchange reserves are not integrated with the reference currency implies that there is no long-term relationship between foreign exchange reserves and supply of basic money and the fact that foreign exchange reserves are associated with long-term currency claims Verify the view of this currency. The number of bonds issued by central bank and central bank. Chapter 2 describes the Caldo legal and test overview using 29 regional panel data sets from 1986 to 2007 and the manufacturing contribution to labor productivity and gross output growth I will. Empirical results of spatial panel econometric techniques provide important support for Kaldorian thesis and the combination of spatial autocorrelation improves the performance of empirical models compared to traditional models. Chapter 3 analyzed the relationship between functional income distribution from 1993 to 2007 and economic growth in China. Based on a demand-driven macroeconomic framework, a profit-driven or wage-driven demand system may be dependent on the overall impact of change on the profit share of all factors of the final demand. According to our survey, the Chinese economy has profit-oriented characteristics in all 29 areas and coastal areas of 29. Regional and international trade expansion also plays an important role, but it turned out that investment spending determines a profit-driven economic growth model.

In addition, whenever economic growth slows and investment declines, China provides necessary funds using anti-cyclical financial and fiscal policies. It has played an important role in sustaining economic growth and enhancing investor confidence in the willingness of the government to intervene in the market. Therefore, families and entrepreneurs believe that growth will continue, which promotes capital formation. Of course, some people think this type of active intervention by the country is neither China nor sustainable. Almost all East Asian countries have followed the so-called "East Asia model" established by Japan to various degrees. This includes using the power of the government to raise the country's competitive advantage, such as supporting labor-intensive industries in the early stages of development, then maintain rapid economic growth and achieve a global advantage Includes use of financial subsidies to achieve.

The purpose of this paper is to explain China 's monetary policy during the economic growth period and to study changes in long - term monetary policy implementation. The covered period also shows the period of accelerated market economic reform that began in 1978. The Asian financial crisis of 1997 had a fundamental impact on the economic and financial markets of East Asia. At that time, basically closed capital accounts, non-convertible currencies, low-growth financial markets, and broad policy support helped China to have little or no damage compared to other countries in the region I was able to overcome the crisis. After the Asian financial crisis, the pace of China's market-oriented reform is accelerating

Europe's economic growth has only slowed to its lowest level for the first time in four years and has been relaxed by the eurozone frenzied monetary and fiscal policy. Although China is prospering in recent years, its growth rate has also slowed down, and now it is weaker than 10 years. Other emerging economies like Turkey are suffering from the current financial crisis and economic problems. There are many needs from the United States to other parts of the world. We have acquired exports from overseas. However, there is not much demand from overseas flowing to our own coast. At the same time, our growth has brought us relatively attractive investment opportunities, pushing up the demand for US assets and the dollar we need to buy them.