Most developing and transition countries have adopted a mixed strategy in the management of their exchange rate. This article provides an indicator that measures the trade-off between nominal anchor and real target strategies. The relevance of the indicator is assessed for the cases of Poland...

This article investigates the causes of the deflation which occurs in China since 1998. The analysis is based on a theoretical model which addresses supply shocks as well as demand shocks and on the estimation of a reduced equation of consumer prices variations for the period 1986-2002, the...

On July 21, China slightly revalued the Renminbi and officially modified the exchange rate regime. Interpreting this move as only the outcome of international pressures to reduce international trade imbalances is however misleading. To support our argument, we explore the rationale of the July...

While some scholars argue that fiscal decentralization gave Chinese local officials strong incentives to promote local economic growth, traditional fiscal federalism theories are not directly relevant to explain such an effect in the particular context of China. In this paper, we explain the...

A bilateral export demand function is developed to study the effects on the Chinese bilateral exports of three real exchange rates, corresponding respectively to the price-competitiveness of Chinese products on the market of the considered import country (traditional effect), on China’s other...

The main objective of this paper is to evaluate the impact of globalization on internal migrations using data on Chinese provinces. The opening-up policy launched by Chinese authorities at the end of the 1970s, has resulted in widening regional disparities in terms of income and job...

This paper provides empirical evidence on the relation between industrial structure and growth performance in Chinese provinces. The influence of two types of variables is examined along with traditional production factors: industrial structure (degree of concentration, diversity in the...

Since 1978 China has been experiencing a strong monetary growth. However annual inflation has not exceeded 20%. One of the outcomes has been a high level of seigniorage. This paper looks for the factors that have enabled to collect this quasi-inflation-free revenue and asks the question of...

In this paper, the impact of real exchange rate on employment is theoretically investigated. Three channels are identified. 1. Capital/labor intensity channel: the real appreciation, which decreases the cost of imported inputs and increases real wages expressed in tradable goods, exerts a...