中美货币供应与经济增长的比较研究

Parallel Research on the Correlation between Money Supply and Economic Growth:China vs. U.S.

2 0世纪 90年代 ,中国和美国的经济都实现了持续较快增长。经济增长离不开货币供应的支持 ,通过对 2 0世纪 90年代中国与美国金融发展中货币供应与经济增长的相关关系进行比较研究发现 :两国的各层次货币供应量均与GDP高度相关 ,且都有显著的线性依存关系 ;但程度却不相同 ,货币流通速度也有差异。我国应充分有效地利用金融资源服务于经济、金融的发展。

In 1990s, both China and U.S. had realized a fast and continuous economic growth which would haven not been realized without the support of the money supplies. This paper implements a parallel research on the correlation between money supply and economic growth both in China and U.S., showing high correlation and a linear relation between money supply and GDP on different levels in the two countries. The research also shows that the extents of correlation and linear relation are different in both countries, and the monetary circulation velocities of them are different as well. The story then tells us that China should make use of financial resource sufficiently and efficiently to serve its economic and financial development.