MONEY DEMAND IN CHINA IN THE REFORM PERIOD - AN ERROR-CORRECTION MODEL

被引：13

作者：

HUANG, GB

机构：

[1] Department of Economics and Finance, City Polytechnic of Hong Kong, Tat Chee Avenue, Kowloon

来源：

APPLIED ECONOMICS | 1994年 / 26卷 / 07期

关键词：

D O I：

10.1080/00036849400000042

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Based on integration and cointegration test findings, this paper constructs an error correction (ECM) model to evaluate the dynamic adjustment process of money demand in China in the reform period (1979 to 1990). The cointegration tests suggest that some long-run relationship exists among money demand, real income, price, and the real interest rate. The ECM model shows that the dynamic adjustment process of money demand maintains stable and significant relationships to most of its determinants.

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页码：713 / 719

页数：7

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