Endogenous money in China: Evidence and insights on recent policies

Rajen Mookerjee, Gavin Peebles

Research output: Contribution to journalArticlepeer-review

2 Scopus citations


Using a broad range of macroeconomic variables, including five definitions of money, this paper concludes that money is endogenous in China. This in turn suggests that the authorities in China find it difficult to control monetary growth through indirect levers. This recognition on the part of the authorities, has resulted in a shift in policy actions to control recent inflation.

Original languageEnglish (US)
Pages (from-to)139-158
Number of pages20
JournalJournal of Asian Economics
Issue number1
StatePublished - Jan 1 1998

All Science Journal Classification (ASJC) codes

  • Finance
  • Economics and Econometrics


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