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See discussions, stats, and author profiles for this publication at: Money supply and economic growth under environmental pressure: The strategy for re-growth Article in International Journal of Monetary Economics and Finance · January 2013 DOI: 10.1504/IJMEF.2013.055717 CITATIONS 8 READS 284 3 authors , including: Feng Dai Zhengzhou Information Engineering University 66 PUBLICATIONS 119 CITATIONS SEE PROFILE Songtao Wu Toyota Motor 25 PUBLICATIONS 181 CITATIONS SEE PROFILE All content following this page was uploaded by Feng Dai on 23 January 2015. The user has requested enhancement of the downloaded file.
Int. J. Monetary Economics and Finance, Vol. 6, No. 1, 2013 55 Copyright © 2013 Inderscience Enterprises Ltd. Money supply and economic growth under environmental pressure: the strategy for re-growth Feng Dai*, Ling Liang and Songtao Wu Department of Management Science, Zhengzhou Information Engineering University, Zhengzhou, Henan 450002, China Email: [email protected] Email: [email protected] Email: [email protected] *Corresponding author Abstract: This paper focuses on money supply and economic growth under environmental pressure. Based on the Solow growth model, a formal advance- retreat course (ARC) model and nominal ARC model for money supply are constructed, the basic conditions for increasing money to promote output growth are presented, measurement methods for liquidity are designed, and the empirical research is presented. The findings include the following: increasing money supply promotes conditional economic growth, only major reforms can start a new growth process and promote effective economic recovery and re- growth, and economic reforms and their timing are vital. Keywords : economic process; ARC; advance-retreat course; money supply; liquidity control; recovery strategy; economic re-growth. Reference to this paper should be made as follows: Dai, F., Liang, L. and Wu, S. (2013) ‘Money supply and economic growth under environmental pressure: the strategy for re-growth’, Int. J. Monetary Economics and Finance , Vol. 6, No. 1, pp.55–80. Biographical notes: Feng Dai is Professor of Economic Management and Science at Department of Management Science, Zhengzhou Information Engineering University (China). His publications include nine books and more than 60 articles in renowned international journals/conferences. He is Director of Management Science Society in China and is Member of IAES. Ling Liang is Associate Professor at Department of Management Science, Zhengzhou Information Engineering University (China). Her publications include two books and more than 30 articles. Songtao Wu is Associate Professor at Department of Management Science, Zhengzhou Information Engineering University (China). His publications include four books and more than 40 articles.

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