International Journal of Social Science & Economic Research
Submit Paper

Title:
THE INTERACTIVE RELATIONSHIP BETWEEN BANK CREDIT AND COAL PRICE FLUCTUATIONS

Authors:
Shao Jiatong

|| ||

Shao Jiatong
College of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing, Jiangsu, 211106, P. R. China

MLA 8
Jiatong, Shao. "THE INTERACTIVE RELATIONSHIP BETWEEN BANK CREDIT AND COAL PRICE FLUCTUATIONS." Int. j. of Social Science and Economic Research, vol. 3, no. 10, Oct. 2018, pp. 5567-5585, ijsser.org/more2018.php?id=389. Accessed Oct. 2018.
APA
Jiatong, S. (2018, October). THE INTERACTIVE RELATIONSHIP BETWEEN BANK CREDIT AND COAL PRICE FLUCTUATIONS. Int. j. of Social Science and Economic Research, 3(10), 5567-5585. Retrieved from ijsser.org/more2018.php?id=389
Chicago
Jiatong, Shao. "THE INTERACTIVE RELATIONSHIP BETWEEN BANK CREDIT AND COAL PRICE FLUCTUATIONS." Int. j. of Social Science and Economic Research 3, no. 10 (October 2018), 5567-5585. Accessed October, 2018. ijsser.org/more2018.php?id=389.

References
[1]. Simone Manganelli, Alexander Popov. Financial development, sectoral reallocation, and volatility: International evidence [J]. Journal of International Economics, 2015, (96): 323- 337.
[2]. Philip Arestis, Ana Rosa Gonzalez. Endogenous Bank Credit and Its Link to Housing in OECD Countries [R]. Levy Economics Institute of Bard College, 2013.
[3]. Pengfei Wang, Yi Wen. Financial Development and Long-Run Volatility Trends [R]. Federal Reserve Bank of St. Louis Working Paper, 2013-003A .
[4]. Bernanke, B. S., Gertler M. Agency Costs, Net Worth and Business Fluctuations [J]. American Economic Review, 1989, 79:14-31.
[5]. Braun, M., Larrain, B. Finance and the business cycle: international, inter-industry evidence [J]. Financ. 2005, (50): 1097-1128.
[6]. Wurgler, J.. Financial markets and the allocation of capital [J]. Financ. Econ. 2000, (58): 187- 214.
[7]. Koren, M., Tenreyro, S. Volatility and development [J]. Econ. 2007, (122): 243-287.
[8]. Ball. R.P. Brown. Risk and Return from Equity Investments in the Australian Mining Industry [J]. Australian Journal of Management, 1980, 5(10): 45-66.
[9]. Diamond D. Financial intermediation and delegated monitoring [J]. Review of Economics Studies, 1984, (51): 393-414.
[10]. Jean Imbs. Growth and Volatility [J]. Journal of Monetary Economics, 2007, 54(7): 1848-1862 Strauss, S.D. Capital Requirements of the Mineral Industry [Z]. www.onemine.org. 2005.1.
[11]. Yu Yongdin?National income distribution, financial structure and macroeconomic stability [J]. Economic Research Journal?1996, (12):34-40.
[12]. Wang Yupeng, Zhao qingming. Financial Development and Macroeconomic Fluctuations: Empirical Evidence from 214 Countries in the World [J]. Studies of International Finance?2015, (2): 3-13.
[13]. Sa Qiurong. The Relation Between Real Estate Price Fluctuations And Bank Credit [D]. Nankai University, 2011.
[14]. Lin Yiwen. The Research on the Bank Credit And the Real Estate Price Fluctuations Based on VAR Model in Guangdong Province [D]. Guangdong University of Technology?2012.
[15]. Zhang Yanqin, Liu Manzhi. Research on China's Coal Price Fluctuation--An Empirical Analysis Based on GARCH Model [J] Price: Theory & Practice?2014, 357 (3) 75-76.
[16]. Feng Yu, Xie Shouxiang. Research on Characteristics of China's Coal Price Cycle Fluctuation [J]. Price: Theory & Practice?2014, 355 (1): 65-66.
[17]. Lin Xiang. Thoughts on Credit Risk of China's Coal Industry [J]. Energy and Environment?2006, (1): 47-49.
[18]. Zhang Xiaomei, Luo Peng. Credit growth, financial development and macroeconomic fluctuations [J]. Studies of International Finance?2014, (5): 14-23.
[19]. Yan Lili, Wang Yiming. Financial Development, Financial Market Shock and Economic Fluctuation--Analysis Based on Dynamic Stochastic General Equilibrium Model [J]. Journal of Financial Research?2012, 390 (12): 82-95.
[20]. Hao Dongli. Financial institutions focusing on regional development and sustainable development of the coal industry [J]. Hebei Finance?2006, (11): 6-8.

Abstract:
This article chooses quarterly data of national coal products and commodity retail price index, domestic loans of the coal industry and coal output. The data range is 2004 to 2014. By establishing cointegration regression model, we explore and explain the interactive relationship between them in the long term. And by establishing VAR model, we explain the interactive relationship in the short term. The empirical analysis shows that there is a long-term equilibrium relationship between coal price fluctuations, bank credit and coal output. But in the short term, the relationship between them is not significant. So if we want to adjust coal prices through the supply of bank credit, the effects may not be so obvious. Finally, the paper puts forward a series of reasonable suggestions on the adjustments of relations between coal prices and the supply of bank credit.

IJSSER is Member of