fifth feature in China's economic reform. If monetization is taken to mean a process through which variations in money … interest rate and savings, money and inflation, interest rate and investment, and money and national income do not support the … evidence of such a process in China between the late 1970s and early 1990s …

China. By constructing four causality relationships between interest rate and savings, money and inflation, interest rate …Monetization has been argued as the fifth feature in China's economic reform in addition to privatization … and a restoration in the functions of money since the late 1970s in China …

results indicate a robust relationship between inflation and growth. A significant long-term effect of liberalization on …