Why the Quantity Theory of Money Is Not Applicable to China, Together with a Tested Theory That Is

Gavin Peebles

Cambridge Journal of Economics, 1992, vol. 16, issue 1, 23-42

Abstract: Using data for the period 1952-88, this paper argues that any statistical relationship between money and prices is not evidence of causation running from money to prices but is due to the consistent nature of planners' reactions to purchasing power imbalances. This is not an econometric study. Historical, institutional, and simple statistical analysis is used. An outline, descriptive picture of money development for this period in China is offered.in the light of the simple theory applied here. Parallels with post-Keynesian monetary theory are suggested. Two appendixes explain the narrow money supply process and present all the data used. Copyright 1992 by Oxford University Press.

Date: 1992
References: Add references at CitEc
Citations: View citations in EconPapers (8)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:cambje:v:16:y:1992:i:1:p:23-42

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

Cambridge Journal of Economics is currently edited by Jacqui Lagrue

More articles in Cambridge Journal of Economics from Cambridge Political Economy Society Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().