现代增长与信用货币

赵燕菁

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Volume 52 Issue 8

October 2020

Article Contents

Citation: Yanjing ZHAO. Modern Growth and Credit Money[J]. Academic Monthly, 2020, 52(8): 83-98. shu

Modern Growth and Credit Money

Yanjing ZHAO

Abstract

In neoclassical macroeconomic theory, monetary theory and growth theory are two independent branches. Within the framework of the two-stage growth model, this paper further constructs a dynamic “double helix” modern growth model, which integrates the issues of money and growth into a consistent framework. Under this framework, the economy is regarded as a set of business models. All business models can be divided into two stages: capital growth and operational growth. Modern growth connects the two stages through credit, forming a “double helix” growth cycle. Obtaining capital by discounting future income is the most important feature of modern growth which is different from traditional growth. Money based on credit plays a central role in modern growth.
- modern growth,
- macroeconomy,
- credit money
References
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1. [1]
  ZHANG Jun , FANG Hongsheng . Intergovernmental Fiscal Relations and Economic Growth. Academic Monthly, 2026, 58(8): 70-90.
2. [2]
  SHI Dan , LI Peng . The Least-Cost Path for Energy Use in the Process of Modernization——Scenario Analysis and Theoretical Examination. Academic Monthly, 2026, 58(1): 45-58.
3. [3]
  LIU Fengjie . “The Flower's Color Become Lucid Immediately”——The Aesthetic Implications and Modern Reverberations of Wang Yangming's “Mind-Thing Relationship”. Academic Monthly, 2026, 58(1): 180-193.
4. [4]
  SHEN Yifei . Theoretical Genealogies of the Emotional Economy and the Chinese Context. Academic Monthly, 2026, 58(7): 129-142.
5. [5]
  YANG Dian , DONG Shuhao . The Social Construction of Economic Value——Evidence from Financial Markets, with a Discussion on Building a Valuation System with Chinese Characteristics. Academic Monthly, 2026, 58(1): 131-146.
6. [6]
  LIU Wei . Several Important Theoretical Issues Needing Further Clarification for the Growth and Expansion of the Private Economy. Academic Monthly, 2026, 58(7): 41-53.

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沈阳化工大学材料科学与工程学院沈阳 110142

Modern Growth and Credit Money

Yanjing ZHAO

Available Online: 2020-08-20

Abstract: In neoclassical macroeconomic theory, monetary theory and growth theory are two independent branches. Within the framework of the two-stage growth model, this paper further constructs a dynamic “double helix” modern growth model, which integrates the issues of money and growth into a consistent framework. Under this framework, the economy is regarded as a set of business models. All business models can be divided into two stages: capital growth and operational growth. Modern growth connects the two stages through credit, forming a “double helix” growth cycle. Obtaining capital by discounting future income is the most important feature of modern growth which is different from traditional growth. Money based on credit plays a central role in modern growth.