The renminbi and poor-country growth

Helmut Reisen, 5 December 2011

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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.

Topics: Development, International trade
Tags: China, exchange-rate policy, poor countries

The price of children and fertility responses: Evidence from the Israeli Kibbutz

Avraham Ebenstein, Moshe Hazan, Avi Simhon, 2 December 2011

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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.

Topics: Frontiers of economic research, Health economics
Tags: China, demographics, fertility, France, Israel, population

How to agree emissions targets at Durban

Valentina Bosetti, Jeffrey Frankel, 28 November 2011

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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.

Topics: Environment, International trade
Tags: China, India, Kyoto Protocol, UN Convention on Climate Change, US

Market-economy status for China is not automatic

Bernard O’Connor, 27 November 2011

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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.

Topics: Global governance, International trade
Tags: antidumping, China, WTO

Are Chinese individuals prone to money illusion?

Heleen Mees, Philip Hans Franses, 20 November 2011

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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?

Topics: Frontiers of economic research, Monetary policy
Tags: China, inflation, money illusion, US

Does openness generate growth? Reconciling the experiences of Mexico and China

Timothy Kehoe, Kim Ruhl, 19 November 2011

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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.

Topics: International finance, International trade
Tags: China, financial globalisation, free trade, Mexico, openness

The financial trilemma in China and a comparative analysis with India

Rajeswari Sengupta, Joshua Aizenman, 15 November 2011

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Policymakers dealing with the Great Recession of 2008–09 are confronted with what we call the ‘financial trilemma’.

Topics: Development, International finance, International trade
Tags: China, emerging markets, exchange-rate policy, financial trilemma, India

China’s economic growth ‘miracle’ and its outlook by 2020

Yuhan Zhang, 13 November 2011

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China’s economy has taken off since Deng Xiaoping’s economic reforms in 1978. Contrary to the conventional wisdom that China’s economic growth has been driven by exports, it is investment that actually contributes the most. China’s fixed capital formation and inventories jumped from 30% of GDP in 1980 to around 47.5% in 2010.

Topics: Development
Tags: China, growth

Should India join the sovereign-wealth-fund herd?

Kavaljit Singh, 31 October 2011

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New Delhi will soon take a final call on the issue of setting up of a sovereign wealth fund. The idea of setting up an Indian sovereign wealth fund has been going around since 2007 when China established its major sovereign wealth fund, China Investment Corporation (CIC), with an initial capital fund of $200 billion.

Topics: International finance, International trade
Tags: China, India, sovereign wealth funds

The rise of the renminbi as international currency: Historical precedents

Jeffrey Frankel, 10 October 2011

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All of a sudden, the renminbi is being touted as the next big international currency. Just in the last year or two, the Chinese currency has begun to internationalise along a number of dimensions. A renminbi bond market has grown rapidly in Hong Kong, and one in renminbi bank deposits. Some of China’s international trade is now invoiced in the currency.

Topics: International finance
Tags: China, dollar, renminbi, reserve currency

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