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China's macroeconomic imbalances: causes and consequences
Knight, John; Wang, Wei - 2011
sense of very high investment and very low consumption, giving rise to rapid capital accumulation; and an imbalance between …. Both imbalances imply a low rate of time discount by both govern-ment and society: consumption in the present is forgone in … favour of consumption in the future. The paper examines how these imbalances came about, and goes on to consider whether they …
Persistent link: https://www.econbiz.de/10012148634
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China’s Macroeconomic Imbalances: Causes and Consequences
Knight, John; Wang, Wei - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2011
sense of very high investment and very low consumption, giving rise to rapid capital accumulation; and an imbalance between …. Both imbalances imply a low rate of time discount by both government and society: consumption in the present is forgone in … favour of consumption in the future. The paper examines how these imbalances came about, and goes on to consider whether they …
Persistent link: https://www.econbiz.de/10009146904
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The determinants of household saving in China: A dynamic panel analysis of provincial data
Horioka, Charles Yuji; Wan, Junmin - 2006
In this paper, we conduct a dynamic panel analysis of the determinants of the household saving rate in China using a life cycle model and panel data on Chinese provinces for the 1995-2004 period from China's household survey. We find that China's household saving rate has been high and rising...
Persistent link: https://www.econbiz.de/10010332228
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Making Sense of China’s Excessive Foreign Reserves
Wen, Yi - 2011
Large uninsured risk, severe borrowing constraints, and rapid income growth can create excessively high household saving rates and large current account surpluses for emerging economies. Therefore, the massive foreign-reserve buildups by China are not necessarily the intended outcome of any...
Persistent link: https://www.econbiz.de/10013130666
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Explaining China's Trade Imbalance Puzzle
Wen, Yi - 2011
The current global-imbalance literature (which explains why capital flows from poor to rich countries) is unable to explain China's foreign asset positions because capital cannot flow out of China under capital controls. Hence, this literature has not succeeded in explaining China's large and...
Persistent link: https://www.econbiz.de/10013121003
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China's Macroeconomic Imbalances : Causes and Consequences
Knight, John B. - 2011
sense of very high investment and very low consumption, giving rise to rapid capital accumulation; and an imbalance between …. Both imbalances imply a low rate of time discount by both government and society: consumption in the present is forgone in … favour of consumption in the future. The paper examines how these imbalances came about, and goes on to consider whether they …
Persistent link: https://www.econbiz.de/10013123488
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China Meets the Middle-Income Trap : The Large Potholes in the Road to Catching-Up
Woo, Wing Thye - 2012
We follow Woo (2011) in using the Catch-Up Index (CUI) to define the middle-income trap and identify the countries caught in it. The CUI shows that China became a middle-income country in 2007-2008. We see five major types of middle-income trap that China is vulnerable to (a) fiscal stress from...
Persistent link: https://www.econbiz.de/10013097879
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Chapter 4. Global Demographic Trends : Consumption, Saving, and International Capital Flows
Attanasio, O.; Bonfatti, A.; Kitao, S.; Weber, G. - In: Handbook of the economics of population aging : Volume 1, (pp. 179-235). 2016
In this chapter we review the recent literature on the effects of changing global demographic trends on consumption …
Persistent link: https://www.econbiz.de/10014023467
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The Travails of Current Macroeconomic and Exchange Rate Management in China: The Complications of Switching to a New Growth Engine
Woo, Wing Thye - EconWPA - 2003
Just when China’s leaders receive conflicting signals of “overheating” and “below-potential growth”, they encounter tremendous external pressure to revalue the Renminbi (RMB) substantially. Our conclusion is that the major macroeconomic challenges have their roots in China’s...
Persistent link: https://www.econbiz.de/10005062405
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The External Sector Vulnerability Monitoring Index (Λ): The case of Chinese and Asean-5 economies
Estrada, Mario Arturo Ruiz; Samad, Diwa; Ho, Yew Joe - In: Contemporary Economics 12 (2018) 3, pp. 301-314
This paper introduces an alternative indicator to evaluate the external sector behavior of a country or region. The objective of this indicator, titled 'The External Sector Vulnerability Monitoring Index' (henceforth ESVM) (λ), is to offer policy-makers and researchers a new analytical tool to...
Persistent link: https://www.econbiz.de/10014544532