The People’s Republic of China and Global Imbalances from a View of Sectorial Reforms
Ito, Hiro; Volz, Ulrich | November 2012
Abstract
"This paper examines the impact of sectorial reforms on current account imbalances, with a special focus on the People’s Republic of China (PRC). In particular, we investigate to what extent reforms pertaining to the financial sector, social protection, and healthcare may contribute to a rebalancing of the PRC’s persistent current account imbalances. Our forecasting results suggest that reforming the financial sector would be a significant contributor to the country’s rebalancing with an effect much larger than that of capital account liberalization. Strengthened provisions of social protection and publicly-funded healthcare are also found to contribute to a rebalancing of the PRC economy."
Citation
Ito, Hiro; Volz, Ulrich. 2012. The People’s Republic of China and Global Imbalances from a View of Sectorial Reforms. © Asian Development Bank Institute. http://hdl.handle.net/11540/1155. License: CC BY-NC-ND 3.0 IGO.Keywords
Financial Sector Reform
Financial Reform
Financial Policy
Rural Poverty
Economic Development and Finance
Development Financing
Business Financing
Investment Requirements
Show allCollapse
Citable URI
http://hdl.handle.net/11540/1155Metadata
Show full item record
Users also downloaded
-
CAREC Transport and Trade Facilitation Strategy 2020
(Asian Development Bank, 2013-10-24)The Central Asia Regional Economic Cooperation (CAREC) Transport and Trade Facilitation Strategy (TTFS) was refined to account for changes in the CAREC Program since 2008, particularly expanded membership and the new strategic framework (CAREC 2020). ... -
ADB Private Sector Operations Innovation, Impact, Integrity
(Asian Development Bank, 2012-03-01)This publication about ADB's nonsovereign operations explains ADB's approach to catalyzing and strengthening private sector investments in Asia and the Pacific. -
Bangladesh Quarterly Economic Update (March-June 2015)
(Asian Development Bank, 2015-12-28)The Bangladesh Quarterly Economic Update (QEU) has been produced by the Bangladesh Resident Mission of the Asian Development Bank since March 2001. The QEU provides information and analysis on Bangladesh’s macroeconomic and sector developments, key ...
Related items
-
The People’s Republic of China’s Growth, Stability, and Use of International Reserves
(Asian Development Bank Institute, 2014-01-24)In the run-up to the financial crisis, the world economy was characterized by large and growing current account imbalances. Since the onset of the crisis, the People’s Republic of China and the United States have rebalanced. As a share of gross domestic ... -
Navigating a Changing World Economy: ASEAN, the People’s Republic of China, and India
(Asian Development Bank Institute, 2013-01-22)Most projections envision continued rapid growth in the members of the Association of Southeast Asian Nations (ASEAN), the People’s Republic of China (PRC), and India (collectively, ACI) over the next two decades. By 2030, they could quadruple their ... -
Impact of Production Linkages on Industrial Upgrading in ASEAN, the People’s Republic of China, and India: Organizational Evidence of a Global Supply Chain
(Asian Development Bank Institute, 2012-11-30)"This paper presents a simple model of industrial upgrading as a result of backward and forward information linkages between upstream and downstream relations. It also serves as an empirical investigation of the impact of mutual knowledge exchange on ...