This paper argues that the tradtitional way of gauging a country's fiscal policy stance by looking at government budget deficit or cyclically adjusted budget deficits is misleading in the case of China, since a lot of what usually would be considered fiscal policy is conducted via investment by...

This paper calculates a unit labor-cost based real effective exchange rate for China for the period 1987-2002. It examines carefully which data sources can be used given the known limitations of Chinese data and constructs to them together with internationally available unit labor cost...

This article discusses the probability of growth of neoliberalism in modern China and its implications for Chinese constitutionalism. A China polity under the vision of a neo-liberal regime engenders problems of prescribing a legal system and identifying constitutional ethos. The genesis of this...

In this paper we apply a simple macro model to explore and evaluate certain optimal monetary policy rules for China's economy. To be more consistent with the central bank (the People's Bank of China)'s behaviour, we use money supply as a monetary policy instrument rather than the commonly used...

Our central proposition is that monitoring costs increase with physical distance, and hence, direct investments located further from the foreign investor’s home base should be more likely formed as joint ventures. Tests on a data set of Taiwanese direct investments in Mainland China provide...

This paper investigates how estimates of the extent and trend of income poverty in China between 1990 and 2001 vary as a result of alternative plausible assumptions concerning key parameters that influence the poverty line and estimated consumption levels. Our methodology focuses on the...

Young (1995) estimated Total Factor Productivity (TFP) growth for Hong Kong, Taiwan, Singapore and South Korea. He reported moderate growth rates for these four regions. This means that rapid growth of GDP in these four economies is due mainly to fast increase of inputs. Young (2000) also...

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...

Factor-endowment based trade with the leading economy helps to explain the differing development performances of the Americas and East Asia in the past two centuries. Between 1830 and 1945, labor-abundant Britain, the most advanced country, traded heavily with land-abundant countries in the...