Реальные деньги и экономический рост

Real Money and Economic Growth

Sergey Blinov

MPRA Paper from University Library of Munich, Germany

Abstract: People recognized the important role played by money a long time ago. But it was only approximately 50 years ago that Milton Friedman convincingly proved that change in the quantity of money in the economy may have a very serious effect on the GDP. This paper reveals a most intimate non-linear linkage between growth of real GDP and growth of real money supply using the example of a number of countries and unions (Russia, Japan, Brazil, Eurozone). It is shown that exponential growth of real money supply corresponds to linear growth of real GDP. Two hypotheses are advanced which explain such a nature of the inter-linkage as well as practical recommendations are given which pertain, first of all, to monetary policy.

Keywords: GDP; economic growth; money supply; monetary policy; Central Banks (search for similar items in EconPapers)
JEL-codes: E41 E50 E51 E52 E58 O11 O23 O42 (search for similar items in EconPapers)
Date: 2015-10-16
New Economics Papers: this item is included in nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:67256

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