| Summary: | 碩士 === 淡江大學 === 金融研究所 === 81 === The Central Bank of Taiwan has been dominating exchange rate
and controlled funds, which make U.S.A. based on its own
merits, regrested the Central Bank of Taiwan to reduce its in-
fluence in th exchange rate on the negoiation conference. In
order not to have big impact on the domestic economics, the
Central Bank has make the N.T.dollar appreciating slowly.
However this measure has increased the money supply in co-
existence with the fluctuations of the stock price on a large
scale. The research interval is from July 1978 to June
1992.There are two research periods in the interval. The first
period was also divided into two parts. The first part is from
July 1978 to June 1992.However construction and banking &
insuranc differ in time,the second part is defined as the time
span from Jan 1987 to June 1992. In the second research period,
the interactions among banking & insurance, industries, money
supply and exchange ratewere examined. The listed results were
obtained as follows:⑴Money and excahange:according to the long
term analysis, there is a one way relationship between the
exchange rate and money. But since 1987, our country has made
our currency independent.⑵Money and classified stock price:in
the first part, the result which banking & insurance influenced
the money supply, the other had one way influences on money
supply and in the second part except the construction which has
had its relationship with money supply,the rest all have
effected the money supply.
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