scholarly journals Uncertainty shocks and monetary policy: evidence from the troika of China's economy

2021 ◽  
pp. 1-15
Author(s):  
Chenpei Hu ◽  
Zuiyi Shen ◽  
Haijing Yu ◽  
Bing Xu
Keyword(s):  
Monetary Policy ◽  
Uncertainty Shocks ◽  
China’S Economy

The Impact of Oil Price Volatility on China’s Economy: An Empirical Investigation Based on VAR Model

2012 ◽  
Vol 524-527 ◽  
pp. 3211-3215 ◽  
Author(s):  
Shu Ping Wang ◽  
Ai Mei Hu ◽  
Zhen Xin Wu
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Monetary Policy ◽  
Price Level ◽  
Price Volatility ◽  
Oil Price ◽  
Economic Growth Rate ◽  
Oil Price Volatility ◽  
China’S Economy

China has been in rapid economic growth and industrial structure reform for recent years, and oil, as a most important raw material for industrial production, its price fluctuations have direct impact on energy-intensive industries as well as non-energy-intensive industries and their associated industries’ overall demands. Under the price transmission mechanism, oil price volatility imposes significant influences on economic growth rate, price level, unemployment rate and monetary policy as well. This paper established VAR model among oil prices and economic indicators such as economic growth rate, price level, unemployment rate and monetary policy, and by data processing , stability test and cointegration test, we found that there existed long term stable cointegration relations among these sequences; through Granger Causality test we found that oil price volatility was the Granger cause of the fluctuations of economic growth rate, price level and monetary policy, and meanwhile, changes in economic growth rate is the Granger cause of that in price level. The result of our empirical study indicated that, oil price volatility has a profound influence on China’s economy, and thus, China should improve the establishment of the oil futures market to avoid risks of oil price volatility and secure long-term stability of its economic growth.

Prospects for China's economy in 2019

2018 ◽  
Keyword(s):  
Monetary Policy ◽  
Trade Policy ◽  
Gdp Growth ◽  
Content Type ◽  
Us Trade Policy ◽  
Trade Frictions ◽  
Fiscal And Monetary Policy ◽  
Trade And Investment ◽  
China’S Economy ◽  
Do So

Subject Prospects for China's economy in 2019. Significance China goes into 2019 dealing with US trade policy that is proving far more aggressive than Beijing had expected a year ago, when it was pursuing goals of deleveraging debt, reducing pollution and cutting overcapacity in specific industries, all the while keeping the economy on track for 6.5% GDP growth. Instead, Beijing has had selectively to loosen fiscal and monetary policy and put support for trade and investment ahead of the original goals. It will have to continue to do so while trade frictions persist.

Asymmetric Effects of Chinas Monetary Policy on the Stock Market: Evidence from a Nonlinear VAR Mode

2018 ◽  
Vol 8 (6) ◽  
pp. 745-761
Author(s):  
Yunpeng Sun ◽  
Xueying Wang
Keyword(s):  
Monetary Policy ◽  
Stock Market ◽  
Rapid Development ◽  
Bear Market ◽  
Asymmetric Effects ◽  
Bull Market ◽  
Virtual Economy ◽  
Main Representative ◽  
The Relationship ◽  
China’S Economy

This study uses Markov switching vector autoregression (MS-VAR) model to explore the asymmetric effects of China’s monetary policy on the stock market in the bull market and the bear market. With China’s economy in a rapid development, China’s stock market as the main representative of the virtual economy has attracted large assets. Since 1990 to the present, China’s stock market has experienced several times states’ change between the bull market and bear market. The results indicate that China’s quantity-based direct instrument and price-based indirect instrument have asymmetric effects on the stock market in the bull market and the bear market. Moreover, the relationship between China’s economy and stock market exist a degree of dichotomy. Furthermore, China’s monetary policy has stronger effects on the bull market than the bear market.

scholarly journals Oil price shocks and China's economy: Reactions of the monetary policy to oil price shocks

2017 ◽  
Vol 62 ◽  
pp. 61-69 ◽  
Author(s):  
Won Joong Kim ◽  
Shawkat Hammoudeh ◽  
Jun Seog Hyun ◽  
Rangan Gupta
Keyword(s):  
Monetary Policy ◽  
Oil Price ◽  
Oil Price Shocks ◽  
Price Shocks ◽  
China’S Economy

Markets are downplaying PiS election risks in Poland

2015 ◽  
Keyword(s):  
Monetary Policy ◽  
Financial Markets ◽  
Interest Rates ◽  
Foreign Currency ◽  
Strong Support ◽  
Commodity Prices ◽  
Wide Margin ◽  
Content Type ◽  
Opinion Polls ◽  
China’S Economy

Significance Despite PiS's costly spending pledges, its nationalist and populist views and its strong support for a controversial, Hungarian-style debt-relief scheme for holders of foreign currency-denominated mortgages, the prospect is causing little anxiety in financial markets. Investors are taking the view that PiS, which is leading the ruling Civic Platform (PO) party by a wide margin in opinion polls, will be forced to renege on many of its campaign promises. Impacts Poland is less vulnerable to the VW scandal, auto manufacture accounting for a much larger share of Czech and Hungarian jobs and GDP. A hard landing for China's economy is now seen as the largest threat to financial markets, as opposed to a rise in US interest rates. Central Europe's economies are better placed to cope with deteriorating sentiment towards EMs. Downside risks to inflation from falling commodity prices and slower EM growth put the NBP under pressure to loosen monetary policy further.

Weak lira will reflect Turkish election fears

2015 ◽  
Keyword(s):  
Monetary Policy ◽  
Strong Support ◽  
Bond Markets ◽  
Content Type ◽  
Downward Pressure ◽  
Inflation Rates ◽  
The Us ◽  
Government Bond Markets ◽  
High Share ◽  
China’S Economy

Significance Increased uncertainty in financial markets, following the US Federal Reserve's decision in September to delay tightening monetary policy because of concerns about China's economy, is testing the resilience of Emerging Europe's local government bond markets. Poland and Hungary are vulnerable given the very high share of foreign holdings, but sentiment is bleakest towards Turkish assets, with the lira falling by 10% against the dollar since mid-August. Impacts Some EM bond markets have escaped dramatic falls in equities and currencies, partly due to local institutional investors' strong support. CE economies are better placed to cope with a China- and commodities-induced deterioration in sentiment. This is because of Central Europe's negligible linkages with China and its status as a net oil importer. The 22% decline in oil prices since early July is putting further downward pressure on already subdued CE inflation rates. This will keep monetary policy loose and help underpin growth.

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