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Abstract
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Article Information:
Cycle Relationship between China’s Monetary Policy and Economic Growth Based on the View of FCI
Decai Zhou, Lujun Hong and Zhengyi Jiang
Corresponding Author: Zhengyi Jiang
Submitted: January 24, 2013
Accepted: March 02, 2013
Published: May 15, 2014 |
Abstract:
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On the issue of correlativity between monetary policy and economic growth, this study firstly concludes the study results done by foreign and domestic scholars; then, based on the latest economic data like interest rate, exchange rate, bank credit and asset price, this study constructs China’s real Financial Condition Index by using VAR model; further, this study uses spectrum analysis to study the relationship between FCI and economic growth and reaches the conclusion that monetary policy changes in consistent with and goes ahead of economic growth; lastly, this study raised some policy suggestions based on history of China’s monetary policy.
Key words: Financial condition index, spectrum analysis, transmission mechanism, value added, , ,
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Cite this Reference:
Decai Zhou, Lujun Hong and Zhengyi Jiang, . Cycle Relationship between China’s Monetary Policy and Economic Growth Based on the View of FCI. Research Journal of Applied Sciences, Engineering and Technology, (19): 3948-3956.
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ISSN (Online): 2040-7467
ISSN (Print): 2040-7459 |
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