We build a structural small open economy model to examine the impact of monetary and macroprudential policy actions in a commodity exporting economy. The model incorporates labor market, credit market, macroprudential policy tools such as time-varying capital and reserve requirements, and shocks...

The Chinese model for economic growth is undergoing a fundamental reorientation. While output has been driven by investments and exports in recent decades, private consumption is expected to become a major trigger for future GDP growth. However, the conditions for higher demand from households...

Mit der wirtschaftlichen Integration Chinas in die Weltwirtschaft entsteht ein neues Wachstumszentrum, das die globale Konjunktur maßgeblich beeinflussen kann. So könnten starke Produktionszuwächse in China dazu beitragen, eine schwächelnde Konjunktur in den Industrieländern zu stützen. In...

Processing trade in China has been prevalent, despite rapid economic growth and consequent structural changes. This study examines the role of the processing trade, especially as it relates to exports productivity and export variety. Our model predicts that high productivity of processing...

This paper examines the aspects of changes in China's consumer market since the mid-1980s. By comparing urban and rural residents' expenditures, I find that the rural consumer market has exhibited extraordinary growth. Over the past decade, the consumption growth rate and average propensity to...

In China zeichnet sich eine fundamentale Neuausrichtung des wirtschaftlichen Wachstumsmodells ab. Während die Produktion in den vergangenen Jahrzehnten vor allem aufgrund der hohen Investitionen und zunehmenden Exporte gestiegen ist, soll künftig der private Konsum einen höheren Anteil zum...

The present paper attempts to examine three types of mechanisms, including specialized division of labor, innovation, and demand-induced mechanisms that are crucial in the development of the service industry in the modern economy. The underdevelopment of transacted-through-market services in...

After the 18th National Congress, the Chinese government should speed up tax reform and tax reduction. Tax structure should switch to direct tax. Consumption tax reform of lower tax burden could start within a short time. Replacing business tax by value-added tax should be quickly completed....

The 60th anniversary of China-Pakistan relations was celebrated in 2011. Pakistan was the third non-communist and the first Muslim country to recognize China in 1950. The diplomatic relations between China and Pakistan were established in May 1951.The friendship between China and Pakistan is all...

As a response to the COVID-19 shock, the Uruguayan government expanded an existing public credit guarantee and introduced deductions in local currency reserve requirements. Policies of the same nature were also implemented by several governments throughout the world. This paper contributes to...