Do capital controls deflect capital flows?

Paolo Giordani, Michele Ruta, Hans Weisfeld, Ling Zhu 23 June 2014

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The size and volatility of capital flows to developing countries have increased significantly in recent years (Figure 1), leading many economists to argue that national policies and multilateral institutions are needed to govern these flows (Forbes and Klein 2013, Blanchard and Ostry 2012). The IMF itself has reviewed its position on the liberalisation and management of capital flows, while recognising that “much further work remains to be done to improve policy coordination in the financial sector” (IMF 2012, p. 28).

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Topics:  International finance

Tags:  China, capital flows, spillovers, South Africa, capital controls, Brazil, Capital inflows, international capital flows

Curriculum and ideology

Davide Cantoni, Yuyu Chen, David Y. Yang, Noam Yuchtman, Y. Jane Zhang 29 May 2014

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Education shapes young minds. Contemporary debates rage on whether it also shapes people’s political views, attitudes, and their values. Examples range from teaching of evolution in US schools, to the role of madrassas in the Islamic world, and the coverage of World War II in Japanese history textbooks. In 2012, an attempt to introduce a mainland Chinese curriculum into Hong Kong schools led to tens of thousands of people taking to the streets in protest.

Scholars across the social sciences have argued that schools play an important role in shaping political attitudes:

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Topics:  Education

Tags:  education, China, curriculum reform

Why are savings so high among the young in urban China?

Mark R. Rosenzweig, Junsen Zhang 21 May 2014

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A well-known phenomenon in contemporary China is the high personal savings rates of households compared with those in developed countries and many low-income countries. A less-studied aspect of this is the elevated savings rates of the young relative to the middle-aged, first shown by Chamon and Prasad (2010) based on urban household data covering the years 1986–2005 for ten provinces.

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Topics:  Frontiers of economic research Global economy

Tags:  China, housing, family, savings, one-child policy

Minimum wages and firm employment: Evidence from China

Yi Huang, Prakash Loungani, Gewei Wang 16 May 2014

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The impact of the minimum wage on employment is a polarising issue in ‘advanced’ – the term commonly used for ‘high-income’ – economies. In the blogosphere, one side is often accused of cruelty (‘they don’t care about the working poor’) and the other of stupidity (‘they don’t realise that labour demand curves slope downwards’). The evidence is mixed. The majority of studies find that minimum wage changes lower employment by a modest amount (Neumark and Wascher 2007) or have little impact (Schmitt 2013).

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Topics:  Labour markets

Tags:  China, minimum wage

China is not yet number one

Jeffrey Frankel 09 May 2014

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Widespread recent reports have trumpeted: “China to overtake US as top economic power this year.” The claim is basically wrong. The US remains the world’s largest economic power by a substantial margin.

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Topics:  Global economy

Tags:  US, China, purchasing power parity, statistics

Increased export performance and competitiveness of developing countries is mainly a China story

M. Ataman Aksoy, Francis Ng 03 May 2014

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One of the important developments of the last couple of decades has been the rapid expansion of manufacturing exports from developing countries to high-income industrial countries, as well as to other developing countries. Developing economies have also gained significant market share in both major industrial countries and in each other’s markets during this period (Aksoy and Ng 2013a, 2013b).

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Topics:  International trade

Tags:  China, market shares, south-south trade

China’s regional and bilateral trade agreements

John Whalley, Chunding Li 05 March 2014

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China’s efforts at international trade diplomacy did not stop with its 2001 WTO accession. China is increasingly active in her pursuit of regional trade agreements (RTAs).

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Topics:  International trade

Tags:  China, RTAs

China’s one-child policy and saving puzzle

Taha Choukhmane, Nicolas Coeurdacier , Keyu Jin 22 January 2014

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The Chinese household saving rate is high and has been rising sharply. Between 1983 and 2011, the average urban household saving rate rose by about 20 percentage points – from 10.4% to a staggeringly high level of 30.5%. This stands in sharp contrast with the low household savings rate in developed countries (about 5% in OECD economies). A fast-growing economy should in principle be borrowing against future income to bring forward consumption.

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Topics:  Education Gender Microeconomic regulation

Tags:  China, fertility, demographics, savings, one-child policy

China's growth, stability, and use of international reserves

Joshua Aizenman, Yothin Jinjarak, Nancy P. Marion 05 January 2014

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Pre-crisis imbalances

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Topics:  Global crisis

Tags:  US, global imbalances, China, global crisis

Has China’s new labour contract law worked?

Richard B. Freeman, Xiaoying Li 22 December 2013

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In 2007 China enacted a new Labour Contract Law (LCL) – the first major labour reform in over a decade. The law sought to pressure firms to give workers written contracts that would help workers enforce their legal rights at the workplace. Because local governments put economic growth and business interests above worker well-being, implementation of labour laws in China has historically been weak (Tang 2008) with the result that many workers in China suffered ill treatment by employers (Lee 2007, Chan 2001).

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Topics:  Labour markets

Tags:  China, labour contracts

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