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.
Does openness generate growth? Reconciling the experiences of Mexico and China
Timothy Kehoe, Kim Ruhl, 19 November 2011
The financial trilemma in China and a comparative analysis with India
Rajeswari Sengupta, Joshua Aizenman, 15 November 2011
Policymakers dealing with the Great Recession of 2008–09 are confronted with what we call the ‘financial trilemma’.
China’s economic growth ‘miracle’ and its outlook by 2020
Yuhan Zhang, 13 November 2011
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.
Should India join the sovereign-wealth-fund herd?
Kavaljit Singh, 31 October 2011
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.
The rise of the renminbi as international currency: Historical precedents
Jeffrey Frankel, 10 October 2011
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.
Will India overtake China in the next decade?
Ganeshan Wignaraja , 29 September 2011
There is renewed interest in the Asian giants in the wake of sluggish growth in advanced industrial economies. Over the past decades China and India have become super-exporters and surpassed all other developing countries (Winters and Yusuf 2007; Bardhan 2010). Some are predicting that India’s trade and growth performance will soon outpace China’s.
Special economic zones: What have we learned?
Thomas Farole, 28 September 2011
It is more than 50 years since the establishment of the first modern special economic zones. But it is only relatively recently, particularly since the 1990s, that their popularity as a policy instrument has taken off.
Is the dragon learning to fly? An analysis of the Chinese patent explosion
Zhihong Yu , Markus Eberhardt, Christian Helmers, 27 September 2011
China’s economic success over the past three decades has been widely regarded as the result of its ability to produce manufactured goods at low cost, building on the availability of cheap labour and scale economies, while relying on existing (albeit in part advanced) technologies of production.
Legal origin: A Chinese perspective
Debin Ma, 14 September 2011
Recent scholarship stresses the key role of a nation’s 'legal origin' – eg common law versus civil law regimes – in accounting for growth performance, and current financial institutions (La Porta et al 1998). This work, however, has a big hole in it – non-Western legal traditions are nowhere mentioned.
China: Temporary trade barriers and recent trends
Piyush Chandra, 4 September 2011
As tariffs have decreased around the world, many countries have started using other contingent measures of protection, such as antidumping duties, countervailing duties, and safeguards. China too had a period of dramatic tariff liberalisation, with its average tariff decreasing substantially from roughly 40% in 1993 to about 17% in 2000.
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