Ma, Guonan; Xiandong, Yan; Xi, Liu - In: Journal of Chinese Economic and Business Studies 11 (2013) 2, pp. 117-137
We examine the role of reserve requirements as a cheaper substitute for the open market operations of the People’s Bank of China (PBC) to sterilise foreign exchange interventions in recent years. China’s reserve requirements have also been used to address a range of other policy objectives,...