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This paper summarizes the macroeconomic performance of the transition economies. We first review the initial conditions confronting these economies, the reform strategy that was proposed, and the associated controversies that arose a decade ago. We then account for the widely different outcomes,...
Persistent link: https://www.econbiz.de/10014399915
China is transitioning to a greener, more inclusive, more consumer and service based, and less credit-driven economy …
Persistent link: https://www.econbiz.de/10011715356
China and Australia have increasingly strong links, especially through trade. These are driven by demand from China for … Australian commodities (coal and iron ore) and services (tourism and education). These links are influenced by China's transition …, three risks (both upside and downside) to China during this transition process are considered, focusing on their spillovers …
Persistent link: https://www.econbiz.de/10011866353
recommendations for China. The simulations highlight the importance of the criteria being used for determining speed and sequencing …
Persistent link: https://www.econbiz.de/10014401153
This paper examines China’s reform experience since 1978, reviewing major initiatives taken and assessing their impact … special conditions before and during the reform process that impinged on China’s capacity to implement reforms, and, in … particular, those where China may differ from other countries undertaking reform, including former CPEs. A further consideration …
Persistent link: https://www.econbiz.de/10014397706
indirect evidence against the existence of substantial repressed inflation in China during the sample period. This is a working …Error correction models of the demand for a range of monetary aggregates in China are estimated with quarterly data for … found to be sensitive to changes in expected inflation. In the case of currency, demand increases in the short term in …
Persistent link: https://www.econbiz.de/10014396177
Market-oriented economic reforms in centrally planned economies have altered the functions and objectives of key policy instruments, particularly in the case of fiscal policy. As a result of reform, economic management requires the use of “indirect” levers to regulate the behavior of...
Persistent link: https://www.econbiz.de/10014396291
This paper examines the relationship between macroeconomic stabilization and market-oriented reform in planned economies. It emphasizes that market-oriented reform should enhance the likelihood that adjustment to exogenous disturbances will involve genuine adjustment in the sense of actually...
Persistent link: https://www.econbiz.de/10014396471
in China during the last decade, drawing upon previous analytical work and also employing the “Granger causality” test …
Persistent link: https://www.econbiz.de/10014395816
Persistent link: https://www.econbiz.de/10009424828