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This paper studies the causes, mechanisms and consequences of decreasing firm value and welfare loss in an economy under a fixed exchange rate regime when there is an unexpected appreciation in domestic currency. We also study the possible economic crisis caused by the exchange rate shock. We...
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This paper examines China and Africa co-operation from the angle of structural transformation as a major driver of … growth and job creation. Being a bit ahead in the structural transformation process, China can provide ideas, tacit knowledge …, opportunities as well as development finances in Africa's transformation. We review critical parts of China's transformation to see …
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Many transition policies, based on neoclassical economics, failed in Eastern Europe, the former Soviet Union, and China …
Persistent link: https://www.econbiz.de/10011470722
This paper argues that both openness and poverty in a country are endogenously determined by the country’s long-term economic development strategy. Development strategies can be broadly divided into two mutually exclusive groups: (i) the comparative advantage-defying (CAD) strategy, which...
Persistent link: https://www.econbiz.de/10010284522
This paper argues that the regional income gap of China is endogenously determined by its long-term economic … comparative advantages. Since the founding of the People’s Republic of China, the government has pushed a CAD strategy, i …
Persistent link: https://www.econbiz.de/10010284822