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Frontiers of Economics in China

ISSN 1673-3444

ISSN 1673-3568(Online)

CN 11-5744/F

Postal Subscription Code 80-978

Front. Econ. China    2008, Vol. 3 Issue (2) : 209-222    https://doi.org/10.1007/s11459-008-0009-5
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Money demand elasticity, effective money supply and money market disequilibrium: “China’s Puzzle” and long-term excessive liquidity
LI Zhiguo
School of Management, Fudan University, Shanghai 200433, China;
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Abstract Chinese excessive liquidity problems are more serious than other main countries. The upgrading industrial structure and the increasing opening degree lead to the excessive money demand and higher money demand elasticity. Bad credits weaken money supply effectiveness and lead to illusive increasing money. We set up the money market disequilibrium model under the condition of the excessive liquidity. The imbalance between money demand and money supply is the key of Chinese excessive liquidity problems.
Issue Date: 05 June 2008
 Cite this article:   
LI Zhiguo. Money demand elasticity, effective money supply and money market disequilibrium: “China’s Puzzle” and long-term excessive liquidity[J]. Front. Econ. China, 2008, 3(2): 209-222.
 URL:  
http://academic.hep.com.cn/fec/EN/10.1007/s11459-008-0009-5
http://academic.hep.com.cn/fec/EN/Y2008/V3/I2/209
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