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
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