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    Channels of Interprovincial Consumption Risk Sharing in the People's Republic of China

    Julan Du, Qing He; Rui, Oliver M. | December 2010
    Abstract
    This paper analyzes consumption risk sharing among provinces in the People’s Republic of China (PRC) during 1980–2007. The analysis finds that 9.4% of shocks to gross provincial product are smoothed by the interprovincial fiscal transfer system. This system also cushions a relatively large percentage of province-specific shocks in coastal areas. Using a variety of indicators, we explored nonfiscal channels of consumption risk sharing. We found that the migration of rural labor to urban areas and the remittance of migrant wages play an important role in promoting interprovincial consumption risk sharing in inland PRC provinces. In contrast, the extent of risk sharing through financial intermediation and capital markets is very limited. These factors have resulted in a low degree of risk sharing among provinces, especially during the last decade.
    Citation
    Julan Du, Qing He; Rui, Oliver M.. 2010. Channels of Interprovincial Consumption Risk Sharing in the People's Republic of China. © Asian Development Bank. http://hdl.handle.net/11540/3922. License: CC BY 3.0 IGO.
    Keywords
    Economic Crisis
    Economic Efficiency
    Economic Policies
    Regional Economic Development
    Public Sector Wages
    Crisis
    Unemployment
    Economic cooperation
    Gross domestic product
    Employment
    Wage payment systems
    Wages
    Financial crisis
    Labor economics
    Regional economics
    Guaranteed annual wage
    Wage differentials
    Wages and labor productivity
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    Citable URI
    http://hdl.handle.net/11540/3922
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    Author
    Julan Du, Qing He
    Rui, Oliver M.
    Theme
    Economics
    Public Sector
    Labor Migration
     
    Copyright 2016-2020 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2020 Asian Development Bank Institute, except as explicitly marked otherwise