Kawai, Masahiro; Liu, Li-Gang - In: Asian Development Review 32 (2015) 1, pp. 49-89
diminishing monetary policy autonomy in the PRC. To regain policy autonomy, the monetary authority needs to substantially increase … liberalization, and monetary policymaking in the People's Republic of China (PRC). It then observes that the PRC's monetary policy … autonomy may have been reduced with falling capital control effectiveness and a rigid exchange regime that is still tightly …