The changing role of money in China and its implications Carsten...
Transcript of The changing role of money in China and its implications Carsten...
![Page 1: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/1.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
The changing role of money in China and its implicationsCarsten A HolzComparative Economic Studies; Fall 2000; 42, 3; ABI/INFORM Globalpg. 77
![Page 2: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/2.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 3: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/3.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 4: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/4.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 5: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/5.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 6: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/6.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 7: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/7.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 8: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/8.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 9: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/9.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 10: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/10.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 11: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/11.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 12: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/12.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 13: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/13.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 14: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/14.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 15: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/15.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 16: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/16.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 17: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/17.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 18: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/18.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 19: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/19.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 20: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/20.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 21: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/21.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 22: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/22.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 23: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/23.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
![Page 24: The changing role of money in China and its implications Carsten …ihome.ust.hk/~socholz/Holz-Comp-Econ-Studies-Role-of... · 2017. 1. 9. · The changing role of money in China](https://reader034.fdocuments.net/reader034/viewer/2022051408/6012139ba7379d1bbc562b24/html5/thumbnails/24.jpg)
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.