Remaking Monetary Policy In China
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Remaking Monetary Policy In China
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Author : Michael Beggs
language : en
Publisher: Springer
Release Date : 2019-08-16
Remaking Monetary Policy In China written by Michael Beggs and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-08-16 with Business & Economics categories.
This book covers the recent history of Chinese monetary policy. While most current work focuses on This book traces and explains the evolution of Chinese monetary policy in the years before 2008. The turn towards interest rate deregulation and market-oriented policy in China in recent years is often seen as a break with former command-and-control policy norms, in favour of Western central banking norms. We argue that Chinese monetary policy already went through a transformation under the influence of ‘new consensus’ macroeconomics after 1998, but that this surprisingly led to increased reliance on direct banking controls in the 2000s. Therefore, many of the controls that look to many like a remnant of central planning are in fact an outcome of an earlier attempt to ‘rationalise’ monetary policy, in unusual Chinese conditions. Specifically, policy returned to direct controls because of an underdeveloped interbank money market, and a glut of bank liquidity associated with enormous foreign exchange inflows in the mid-2000s.
China S Monetary Policy Communication Frameworks Impact And Recommendations
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Author : Michael McMahon
language : en
Publisher: International Monetary Fund
Release Date : 2018-11-16
China S Monetary Policy Communication Frameworks Impact And Recommendations written by Michael McMahon and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-11-16 with Business & Economics categories.
Financial markets are eager for any signal of monetary policy from the People’s Bank of China (PBC). The importance of effective monetary policy communication will only increase as China continues to liberalize its financial system and open its economy. This paper discusses the country’s unique institutional setup and empirically analyzes the impact on financial markets of the PBC’s main communication channels, including a novel communication channel. The results suggest that there has been significant progress but that PBC communication is still evolving toward the level of other major economies. The paper recommends medium-term policy reforms and reforms that can be adopted quickly.
China S Monetary Policy And Interest Rate Liberalization
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Author : Wei Liao
language : en
Publisher: International Monetary Fund
Release Date : 2014-05-01
China S Monetary Policy And Interest Rate Liberalization written by Wei Liao and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-01 with Business & Economics categories.
China has been moving to a more market oriented financial system, which has implications for the monetary policy environment. The paper investigates the stability of the money demand function (MDF) in light of progress in financial sector reforms that, for example, have resulted in significant financial innovation (so-called shadow banking) and more liberalized interest rates. The analysis of international experience suggests that rapid development of the financial system often leads to structural shifts in the MDF. For example, financial innovation and liberalization alter the sensitivity of money balances to income and the interest rate. For China, we find that the stable long-run relationship between money demand, output, and interest rates that existed between 2002 and 2008 disappears after 2008. This coincides with the period of rapid financial innovation, especially the growth in off-balance sheet and nonbank financial intermediation. The results suggest that usefulness of M2 as an intermediate monetary target has declined with financial innovation and reform. A result that underscores the importance of moving toward increased reliance on more price-based targets such as interest rates.
China S Opening Up
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Author : Fan Zhiyong
language : en
Publisher: Enrich Professional Publishing
Release Date : 2011
China S Opening Up written by Fan Zhiyong and has been published by Enrich Professional Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with China categories.
This series covers a wide range of economic issues related to contemporary China. Tracking the future trend in China's economic development, this account discusses monetary policy, fiscal policy, the growth of regional economies, and industrial and banking developments.
China S Monetary Policy Regulation And Financial Risk Prevention
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Author : Hui Zhou
language : en
Publisher:
Release Date : 2015
China S Monetary Policy Regulation And Financial Risk Prevention written by Hui Zhou and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Financial risk management categories.
One Road Many Dreams
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Author : Daniel Drache
language : en
Publisher: Bloomsbury China
Release Date : 2019-09-10
One Road Many Dreams written by Daniel Drache and has been published by Bloomsbury China this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-10 with History categories.
One Road, Many Dreams reveals the true extent of China's ambition, analyzes the impact of the One Belt, One Road initiative and assesses its chances of success and failure. This is the Asian century and China has a plan--to remake the world economy. Under its audacious One Belt, One Road strategy, China is investing trillions of dollars in hundreds of projects all around the globe. It's buying up ports, building transport networks and constructing major infrastructure. From hydroelectric plants to oil pipelines, China supplies the labour if needed, the raw materials and the finance, creating customers and boosting its own economy in the process. The objective? To challenge the existing economic and political world order. More than 80 nations have already joined China's increasingly less exclusive club and by 2049, when One Belt, One Road is set to end, its number of members is likely to rival the UN. So far, China has exercised its soft power of debt diplomacy and financial might shrewdly, serving the planet's overlooked middle-income and poor countries. The rest of the world needs to wake up because the scale of One Belt, One Road is unprecedented. Its implications for the global structure of power are potentially seismic as the geopolitical ties between Europe and Asia deepen. Written by three highly regarded political economists, One Road, Many Dreams examines the One Belt, One Road initiative from all angles. It looks at the projects and the players, the alliances and the governance. It explores the opportunities for China and the threat to the West, particularly for Trump's isolationist US administration. At home and abroad, China is staking its credibility as a superpower on One Belt, One Road. Its resources appear limitless, but One Road, Many Dreams asks a tough question: has China overreached? Or can it really pull this off and remake the world economy in its own interests?
Remaking The Chinese Leviathan
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Author : Dali L. Yang
language : en
Publisher: Stanford University Press
Release Date : 2004
Remaking The Chinese Leviathan written by Dali L. Yang and has been published by Stanford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Political Science categories.
This book examines a wide range of governance reforms in the People's Republic of China, including administrative rationalization, divestiture of businesses operated by the military, and the building of anticorruption mechanisms, to analyze how China's leaders have reformed existing institutions and constructed new ones to cope with unruly markets, curb corrupt practices, and bring about a regulated economic order.
China S Impossible Trinity
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Author : Chi Lo
language : en
Publisher: Springer
Release Date : 2016-04-29
China S Impossible Trinity written by Chi Lo and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-29 with Business & Economics categories.
This book highlights the difficult policy choice that must ultimately be made during China's structural reform according to the theory of the Impossible Trinity, between exchange rate and monetary policy autonomy.
How China Escaped Shock Therapy
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Author : Isabella M. Weber
language : en
Publisher: Routledge
Release Date : 2021-05-26
How China Escaped Shock Therapy written by Isabella M. Weber and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-26 with Business & Economics categories.
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.
China S Great Train
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Author : Abrahm Lustgarten
language : en
Publisher: Macmillan
Release Date : 2009-05-12
China S Great Train written by Abrahm Lustgarten and has been published by Macmillan this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-05-12 with History categories.
A vivid account of China's unstoppable quest to build a railway into Tibet, and its obsession to transform its land and its people In the summer of 2006, the Chinese government fulfilled a fifty-year plan to build a railway into Tibet. Since Mao Zedong first envisioned it, the line had grown into an imperative, a critical component of China's breakneck expansion and the final maneuver in strengthening China's grip over this remote and often mystical frontier, which promised rich resources and geographic supremacy over South Asia. Through the lives of the Chinese and Tibetans swept up in the project, Fortune magazine writer Abrahm Lustgarten explores the "Wild West" atmosphere of the Chinese economy today. He follows innovative Chinese engineer Zhang Luxin as he makes the train's route over the treacherous mountains and permafrost possible (for now), and the tenacious Tibetan shopkeeper Rinzen, who struggles to hold on to his business in a boomtown that increasingly favors the Han Chinese. As the railway—the highest and steepest in the world—extends to Lhasa, and China's "Go West" campaign delivers waves of rural poor eager to make their fortunes, their lives and communities fundamentally change, sometimes for good, sometimes not. Lustgarten's book is a timely, provocative, and absorbing first-hand account of the Chinese boom and the promise and costs of rapid development on the country's people.