"Big Bang" Versus Gradualism in Economic Reforms PDF Download
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Author: Andrew Feltenstein
Publisher: International Monetary Fund
ISBN:
Category : Capitalism
Languages : en
Pages : 46
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Book Description
Author: Andrew Feltenstein
Publisher: International Monetary Fund
ISBN:
Category : Capitalism
Languages : en
Pages : 46
Get Book Here
Book Description
Author: Andrew Feltenstein
Publisher:
ISBN:
Category :
Languages : en
Pages : 41
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Book Description
This paper reviews briefly the controversy in the literature concerning the speed of adjustment and sequencing of reforms, and presents a model parameterized with Chinese data. The model is used to generate different policy simulations to illustrate some of the key issues in the debate on the speed and sequencing of reforms, and not to provide a basis for policy recommendations for China. The simulations highlight the importance of the criteria being used for determining speed and sequencing. The paper also underscores the limitations involved in attempting to derive conclusions from the model, given the complexity of the issues.
Author: Mr.Andrew Feltenstein
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781451852141
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
This paper reviews briefly the controversy in the literature concerning the speed of adjustment and sequencing of reforms, and presents a model parameterized with Chinese data. The model is used to generate different policy simulations to illustrate some of the key issues in the debate on the speed and sequencing of reforms, and not to provide a basis for policy recommendations for China. The simulations highlight the importance of the criteria being used for determining speed and sequencing. The paper also underscores the limitations involved in attempting to derive conclusions from the model, given the complexity of the issues.
Author: Isabella M. Weber
Publisher: Routledge
ISBN: 042995395X
Category : Business & Economics
Languages : en
Pages : 256
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Book Description
China has become deeply integrated into the world economy. Yet, gradual marketization has facilitated the country’s rise without leading to its wholesale assimilation to global neoliberalism. This book uncovers the fierce contest about economic reforms that shaped China’s path. In the first post-Mao decade, China’s reformers were sharply divided. They agreed that China had to reform its economic system and move toward more marketization—but struggled over how to go about it. Should China destroy the core of the socialist system through shock therapy, or should it use the institutions of the planned economy as market creators? With hindsight, the historical record proves the high stakes behind the question: China embarked on an economic expansion commonly described as unprecedented in scope and pace, whereas Russia’s economy collapsed under shock therapy. Based on extensive research, including interviews with key Chinese and international participants and World Bank officials as well as insights gleaned from unpublished documents, the book charts the debate that ultimately enabled China to follow a path to gradual reindustrialization. Beyond shedding light on the crossroads of the 1980s, it reveals the intellectual foundations of state-market relations in reform-era China through a longue durée lens. Overall, the book delivers an original perspective on China’s economic model and its continuing contestations from within and from without.
Author: Shang-Jin Wei
Publisher:
ISBN:
Category : Monetary policy
Languages : en
Pages : 24
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Book Description
Author: Yew-Kwang Ng
Publisher:
ISBN:
Category : China
Languages : en
Pages : 59
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Book Description
Author: Bruno Merlevede
Publisher:
ISBN:
Category :
Languages : en
Pages : 42
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Book Description
We analyse how the choice of reform speed and economic growth affect one another. We estimate a system of three equations where economic growth, economic reform and FDI are jointly determined. New reforms affect economic growth negatively, whereas the level of past reform leads to higher growth and attracts FDI. This means that the immediate adjustment cost of new reforms is counterbalanced by a future increase in FDI inflows and higher future growth through a higher level of past reform. Reform reversals contribute to lower growth. We use the model to simulate the impact of big bang reform and gradualist reform on economic growth. This is only meaningful in the presence of reform reversals, which requires aggregate uncertainty about the appropriate reform path. Using the coefficients from the empirical model, we find that even relatively small ex ante reversal probabilities suffice to tilt the balance in favour of gradualism. The case for gradualism gains strength if policymakers are short-sighted, but weakens if voters are myopic.
Author: Sweder van Wijnbergen
Publisher: World Bank Publications
ISBN:
Category : Control de precios
Languages : en
Pages : 38
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Book Description
In a big bang. Under gradual decontrol, speculation and hoarding create shortages which make reformist governments vulnerable to early perceptions of failure - a strong argument against gradualism in the decontrol of prices.
Author: Michael Kúnin
Publisher:
ISBN: 9788073440114
Category :
Languages : en
Pages : 23
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Book Description
Author: Clement Allan Tisdell
Publisher: Nova Publishers
ISBN: 9781560725305
Category : Business & Economics
Languages : en
Pages : 548
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Book Description
Contains updated papers from an international conference held in Brisbane, Australia, centering on China's economic reforms and economic growth, regional issues and property rights in China, environmental issues and land use, and science and technology policies. Specific topics include China's market reforms and its new forms of scientific and business alliances, sustainable land use in the Three-Gorges area, and inter-village income inequality in China. Annotation copyrighted by Book News, Inc., Portland, OR
