liberalization in China. A more flexible exchange rate regime would allow China to operate a more independent monetary policy …, providing a useful buffer against domestic and external shocks. At the same time, weaknesses in China’s financial system suggest … concludes that greater exchange rate flexibility is in China’s own interest and that, along with a more stable and robust …

China's increasing openness to foreign direct investment (FDI) has contributed importantly to its exceptional growth … performance. This paper examines China's experience with FDI and identifies some lessons for other countries. Most of the factors … explaining China's success have also been important in attracting FDI to other countries: market size, labor costs, quality of …

This paper gauges the key determinants of China''s private consumption in relation to GDP using data on the Chinese … China. Rather, the challenge is to explain why the conditioning variables-notably a low level of service sector employment …, the level of financial sector development, and low real interest rates-are so different in China relative to other …

This paper reviews China's experience with market-oriented reform since 1978, including domestic reforms, the opening … conditions that may have affected China's capacity to implement reforms, assesses the impact of the reforms on the structure of … and stability, and draws implications for the direction of China's future reform strategy …

China’s high corporate savings rate is commonly claimed to be a key driver for the country’s large current account …

Consumption in China is unusually low and has continued to decline as a share of GDP over the past decade. A key policy …

household consumption in China. The paper first undertakes an empirical study of the relationship between the savings rate and … social expenditures for a panel of OECD countries and provides illustrative estimates of their implications for China. It …

This paper presents some facts on China’s role in the world economy and measures the impact of China’s growth on growth … suggest that spillover effects of China’s growth have increased in recent decades. Long-term spillover effects, estimated …

As China''s economy becomes more market based and continues its rapid integration into the global economy, having an … modern principles of monetary policy in light of the current state of China''s financial institutions, we motivate and … low long-run inflation objective, operational independence for the People''s Bank of China (PBC) with formal strategic …

The rapid aging of China''s population over the next few decades makes it important for a new pension system with broad …