Asian economies have undergone significant transformation since 1997/98 financial crisis. In order to reduce risks of balance of payment crisis, Asian policymakers introduced a number of policy reforms, including promotion of current account surpluses, accumulation of foreign reserves and some...

We examine determinants of inflation in China. Analyses of both yearonyear and monthonmonth growth data confirm excess liquidity, output gap, housing prices and stock prices positively affecting inflation. Impulse response analyses indicate that most effects occur during the initial five months...

We apply a computable general equilibrium framework to assess likely impacts of the Lewis turning point on China and the rest of the world. Modeling results suggest that China will probably transition from an abnormal economy to a normal economy with somewhat lower growth but higher inflation,...

Chinas large current account surpluses not only destabilize its macroeconomic conditions but also are also at the center of global rebalancing. The literature offered five explanations for such surpluses, most of which are important but fail to account for the recent surge and/or offer...

In this paper we attempt to explain the China Puzzle : coexistence of accelerating economic growth and worsening growth outlook. The root cause lies in Chinas unique liberalization approach, i.e., the combination of complete liberalization of product markets and continued distortions in factor...

The effects of environmental regulations on the international competitiveness of domestic industries have become an increasing concern in the trade liberalisation process in the 1990s. This paper examines the significance of environmental policy for trade. A generalised GNP function, which...

In this paper I examine whether stringent environmental standards reduce the international competitiveness of environmentally sensitive industries using a comprehensive dataset of trade flows of environmentally sensitive goods (ESGs) disaggregated at the four-digit level of the Standard...

The accession of both China and Taiwan to the World Trade Organization (WTO) had important implications for relations across the Taiwan Strait and Taiwans position in the regional economy although it did not fundamentally change trade policies by either side towards the other. Accession...

We argue that the industry and ownership structure of Chinese ODI is firstly in-line with the country’s own industrial features and secondly mirrored in the investment motives behind. It is found that large Chinese investors are mainly driven by natural resource seeking and strategic...

The current account surplus of the People’s Republic of China (PRC) has drawn much foreign and domestic attention. This paper focuses on the reasons and remedies for the PRC’s current account surpluses. Rather than deploying the standard explanations, we argue that asymmetric...