A Research On Seigniorage Of Renminbi

The government of a country in economy transition is inclined to impose on mint tax to make up the large fiscal deficit in the reformation for the non-perfect and low efficient economic regime. After extensively reviewing the research on Seigniorage in and aboard, this paper compute scale of the mint tax based on the momentary Seigniorage and opportunity Seigniorage, positively analysis the structure factors of China's mint tax and the distribution of mint tax, and further analysis the similarity and difference in the distribution structure between China and other economy transition country, developed market economy country. In the last section, the author positively analysises the relationship between the scale of mint tax and macroeconomic variable. The positive research draws a general conclusion on the constitutional factors and distribution structure, and finds some new character of the constitutional factors and distribution structure of Chinese Seigniorage. Finally, the positive verifies the relationship between the scale of mint tax and macroeconomic variable.