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differences can be partly explained by an economy's geographic distance, political distance, and trade linkages with China …. However, it also reflects the impact of policy measures by the People's Bank of China, including establishing bilateral swap … lines and offshore clearing banks. Both policy measures helped to address offshore RMB liquidity shortages given China …
Persistent link: https://www.econbiz.de/10015059540
This paper gauges the potential effects on employment of rebalancing China's exportoriented growth model toward … existing and new services as well as reorienting the production of tradable goods toward domestic markets. In China's case … paper shows that while rebalancing China's growth toward a domestic-demand-led economy would likely raise aggregate e …
Persistent link: https://www.econbiz.de/10012677831
Over the past decade, China's growth model has become more reliant on investment and its footprint in global imports … has widened substantially. Several economies within China's supply chain are increasingly exposed to its investment …-led growth and face growing risks from a deceleration in investment in China. This note quantifies potential global spillovers …
Persistent link: https://www.econbiz.de/10012677549
We present a stylized real model of the Chinese economy with the objective of explaining two features: (1) domestic production is highly competitive in the sense that an accumulation of capital that raises the marginal product of labor elicits increases in employment and output rather than only...
Persistent link: https://www.econbiz.de/10012677576
It is generally acknowledged that the government's output is difficult to define and its value is hard to measure. The practical solution, adopted by national accounts systems, is to equate output to input costs. However, several studies estimate significant inefficiencies in government...
Persistent link: https://www.econbiz.de/10009620981
Persistent link: https://www.econbiz.de/10012691090
This paper examines economic growth and various dimensions of regional disparities in Slovakia. We find that regional disparities in the levels of GDP per capita, labor productivity, and labor utilization have widened since 2000, coinciding with the time that Slovakia initiated negotiations on...
Persistent link: https://www.econbiz.de/10012677811
While the level of disparities across regions in 10 advanced European economies studied in this paper mostly reflects productivity gaps, the increase since the Great Recession has resulted from diverging unemployment rates. Following the pandemic, this could be further exacerbated given...
Persistent link: https://www.econbiz.de/10015060090
An influential theoretical literature has observed that economic diversification can reduce risk and increase financial development. But causality operates in both directions, as a well functioning financial system can enable a society to invest in more productive but risky projects, thereby...
Persistent link: https://www.econbiz.de/10005825840
We investigate the relation between changes in tax composition and long-run economic growth using a new dataset covering a broad cross-section of countries with different income levels. We specifically consider 69 countries with at least 20 years of observations on total tax revenue during the...
Persistent link: https://www.econbiz.de/10009659768