Explaining money demand in China during the transition from a centrally planned to a market-based monetary system

Anne-Laure Delatte, Julien Fouquau and Carsten Holz

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Abstract: We examine the transition process from a centrally planned to a market-based monetary system in China, with the objective of giving a functional form to the transition in money demand. Applying the cointegrating Time-Varying Smooth Transition Regression model proposed by Choi and Saikkonen (2004) on a constructed dataset spanning the period from 1984 to 2010, and using a seasonal unit-root test developed by Hylleberg et al. (1990), our findings invalidate much of the earlier literature. Our examination of disaggregate as well as aggregate money balances yields the following findings.

Keywords: money demand; cointegrating time-varying smooth transition regression model; seasonal unit-root test; Chinese economy (search for similar items in EconPapers)
Date: 2011-11
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Published in 2011

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Related works:
Journal Article: Explaining money demand in China during the transition from a centrally planned to a market-based monetary system (2014)
Working Paper: Explaining money demand in China during the transition from a centrally planned to a market-based monetary system (2014)
Working Paper: Explaining money demand in China during the transition from a centrally planned to a market-based monetary system (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00756576

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