Tyers, Rod; Golley, Jane - In: Journal of Economic Integration 23 (2008), pp. 547-574
economic growth is due to relative tradable productivity gains which cause rising relative non-traded prices. The puzzle is … that, while evidence on China’s productivity and prices supports this hypothesis, its real exchange rate showed no tendency … with WTO accession trade reforms, have more than offset the Balassa-Samuelson productivity effects. …