A Study on Optimal Scale of China Gold Reserves

Bingnan ZHANG, Yanfei WANG, Xiaoyan WANG

Abstract


According to the data of 1992-2010 years, paper use optimal portfolio model to determine the weight of the great benefits law foreign exchange reserves, so as to obtain the optimal scale of gold reserves. Forecast the optimal gold reserve capacity in the next 20 years. The conclusion is: 2020, China’s gold optimal reserves should be 5787 tons - 6750 tons. 2030 should be 8995 tons - 10532 tons. Combination of the above quantitative measure and the forecast results, the thesis put some forward countermeasures and suggestions include increasing the gold reserves.

Key words: International reserve assets; Gold reserves; Foreign exchange reserves; Optimal scale


Keywords


International reserve assets; Gold reserves; Foreign exchange reserves; Optimal scale

References


Agarwal, J.P. (1971). Optimal Monetary Reserve for Developing Countries. Weltwirts Chaft Lichs Archiv, (CVII).

BA, Shusong, & ZHU, Yuanqiang (2007). Analysis of Foreign Exchange Reserves Empirical Model. Institute for Monetary Research, (11), 1-12.

CHEN, Xieping (2007). A Number of Views on China’s Foreign Exchange Reserves. Institute for Monetary Research, (8), 58-63.

GAO, Feng, & YU, Yongda (2003). The Economic Impact and the Appropriate Scale of the Chinese Foreign Exchange Reserves. Finance and Economy, (6), 11-15.

GUO, Taifeng (2006). Thinking About Quantity of China’s Foreign Exchange Reserves. International Financial Research, (7), 62-66.

Heller, H.R. (1966). Optimal International Reserves. Economic Journal, 76, 296-311.

HONG, Jiaxin (2008). Moderate-Scale Empirical Analysis About Chinese Foreign Exchange Reserves. Economy of the South, (8), 72-75.

HUANG, Ji (2002). Dynamic Analysis the Demand for China’s Foreign Exchange Reserves. World Economic Papers, (6), 62-69.

JIANG, Boke (1984). Western Demand for International Reserves Theory and Method of Evaluation. Institute for Monetary Research, (2), 49-53.

Jeanne, Olivier, & Ranciere, Romain (2006). The Optimal Level of Intenrational Reserves for Emerging Market Countries. Formulas and Application IMF Working Paper.

LI, Chao, & ZHOU, Chengjun (2008). China’s Excess Liquidity and Foreign Exchange Reserves Accumulated. Institute for Monetary Research, (12), 37-46.

QIU, Bo, & ZHU, Yihong (1999). On China’s Foreign Exchange Reserves Moderate Scale. Ningbo University (Liberal Arts Edition), (4), 92-96.

QU, Qiang (2009). Foreign Exchange Reserve Growth, the Effectiveness of Monetary Sterilization and the Dynamic Effects of Price Fluctuations. Institute for Monetary Research, (5), 47-60.

WU, Jian (1998). China’s Foreign Exchange Reserves Analysis and Definition. Economic Research, (6), 20-29.

XU, Chengming (2001). China’s Foreign Exchange Reserves Needs of the Dynamic Adjustment Model. Economic Science, (5), 71-74.

ZHANG, Bingnan, & FEN, Genfu (2011). China’s Gold Industry Development Status and Related Policies. Management World, (11), 175.

ZHANG, Shuguang, & ZHANG, Bin (2007). Economic Consequences of the Accumulation of Continued Foreign Exchange Reserves. Economic Research, (4), 19-28.

ZHOU, Guangyou, & LUO, Sumei (2011). The Optimal Size of Dynamically Determined Foreign Exchange Reserves - Based on the Analytical Framework of the Multi-Layer Substitution Effect. Financial Research, (5), 30-36.




DOI: http://dx.doi.org/10.3968/j.css.1923669720120804.Z0897

Refbacks

  • There are currently no refbacks.


Copyright (c)



Reminder

  • How to do online submission to another Journal?
  • If you have already registered in Journal A, then how can you submit another article to Journal B? It takes two steps to make it happen:

1. Register yourself in Journal B as an Author

  • Find the journal you want to submit to in CATEGORIES, click on “VIEW JOURNAL”, “Online Submissions”, “GO TO LOGIN” and “Edit My Profile”. Check “Author” on the “Edit Profile” page, then “Save”.

2. Submission

Online Submission: http://cscanada.org/index.php/css/submission/wizard

  • Go to “User Home”, and click on “Author” under the name of Journal B. You may start a New Submission by clicking on “CLICK HERE”.
  • We only use four mailboxes as follows to deal with issues about paper acceptance, payment and submission of electronic versions of our journals to databases: caooc@hotmail.com; office@cscanada.net; ccc@cscanada.net; ccc@cscanada.org

 Articles published in Canadian Social Science are licensed under Creative Commons Attribution 4.0 (CC-BY).

 

Canadian Social Science Editorial Office

Address: 1020 Bouvier Street, Suite 400, Quebec City, Quebec, G2K 0K9, Canada.
Telephone: 1-514-558 6138 
Website: Http://www.cscanada.net; Http://www.cscanada.org 
E-mail:caooc@hotmail.com; office@cscanada.net

Copyright © Canadian Academy of Oriental and Occidental Culture