Both China and India have attracted global attention for rapid growth, but their growth patterns are very different (Rajan 2006, Pack 2008, Bosworth and Maertens 2010). China took the conventional route of manufacturing-led growth and is recognised as a global leader in manufactured exports.
Are China and India converging?
Ejaz Ghani, 23 January 2012
Global value chains are not all born identical: Policymakers beware
Carlo Altomonte, Filippo di Mauro, Gianmarco I.P. Ottaviano, Vincent Vicard, Armando Rungi, 4 January 2012
Global value chains are increasingly important in international trade. The breakup of goods and services production between different companies often operating in different parts of the world (creating a ‘global’ value chain) can be seen all around us.
The contribution of Chinese FDI to Africa’s pre-crisis growth surge
John Whalley, Aaron Weisbrod, 21 December 2011
In the three years before the 2008 financial crisis, GDP growth in sub-Saharan Africa (averaged over individual economies) was around 6%, 2 percentage points above the mean growth in the preceding ten years. This period also coincided with significant Chinese foreign direct investment (FDI) flows into these countries, accounting for as much as 10% of total inward FDI for some countries.
China’s dominance hypothesis and the emergence of a tripolar global currency system
Marcel Fratzscher, Arnaud Mehl, 15 December 2011
The 2007–08 global financial crisis has brought the reform of the international monetary system back to the forefront of the international policy debate. Some G20 leaders, notably from emerging economies, are questioning the configuration of the current system based on a single currency, the US dollar, as global reference currency, and the euro, as a more regional currency.
The renminbi and poor-country growth
Helmut Reisen, 5 December 2011
China’s current-account surplus over the past two decades can be explained in large part by its savings rate. Song et al (2010) have stressed the role of rising corporate savings due to reallocation within the manufacturing sector from low- to high-productivity companies. Wei (2010), meanwhile, explains China’s rising household savings with gender imbalances.
The price of children and fertility responses: Evidence from the Israeli Kibbutz
Avraham Ebenstein, Moshe Hazan, Avi Simhon, 2 December 2011
To what extent does economics affect fertility decisions? Ever since Gary Becker’s seminal work on the economics of the family in the 1960s (Becker 1960), economists have argued that money weighs heavily on the minds of would-be parents, and policymakers throughout the world have been heavily influenced by such research.
How to agree emissions targets at Durban
Valentina Bosetti, Jeffrey Frankel, 28 November 2011
The parties to the UN Framework Convention on Climate Change will meet once again in Durban, South Africa, from 28 November to 9 December. The clock is running out on negotiations for a successor agreement to the Kyoto Protocol.
Market-economy status for China is not automatic
Bernard O’Connor, 27 November 2011
In EU trade-defence law (antidumping and anti-subsidies), there is provision for different treatment between those exporting countries which are considered to have the status of being a market economy and those which are not. If a country does not have market-economy status it is easier to construct the normal value of the exported goods.
Are Chinese individuals prone to money illusion?
Heleen Mees, Philip Hans Franses, 20 November 2011
China’s monetary policy and its inflation have got people talking – particularly about the effect on other countries (see for example the eBook edited by Evenett 2010). But what about its effect on China’s people? Are they fooled by money illusion?
Does openness generate growth? Reconciling the experiences of Mexico and China
Timothy Kehoe, Kim Ruhl, 19 November 2011
Does opening to international trade and foreign investment generate economic growth? A large empirical literature employs regressions with a country’s growth rate as the dependent variable and some measure of openness among the independent variables.
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