摘要
Abstract
Since the reform and opening up, M2/GDP has been rising all the time in China. The ratio of Monetarization is 180% in 2011. Therefore, Currency Over-Issuing has become an inevitable fact. We analyzed and pointed out that there are several direct reasons leading to the phenomenon of currency Over -Issuing and high level of monetarization, such as the surging of foreign exchange, making up the deficit and repaying the national debt, high savings rate, the decline of monetary velocity, non-performing assets in the bank, high difference of loan-to-deposit in financial institutions and so on. And then we set up a multiple linear regression model to quantitatively analyze the influencing factors of currency Over-Issuing. In this paper, as the convergence point with currency Over-Issuing, we build a framework of the economic growth in china.At the same time, we find out that the deep-seated trigger of high level of monetarization is the imbalance of Chinese economy. It is the extensive mode of economic growth that leads to the expansion of currency. Finally, we put forward some relevant policy recommendations.关键词
货币超发/M2/GDP/经济增长模式/实证检验Key words
Currency Over-Issuing/M2/GDP/The mode of economic growth/Empirical Study分类
管理科学
