The Chinese Approach To Capital Inflows

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The Chinese Approach To Capital Inflows

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Author : Eswar S. Prasad
language : en
Publisher:
Release Date : 2011

The Chinese Approach To Capital Inflows written by Eswar S. Prasad and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.

In this paper, we adopt a cross-country perspective to examine the evolution of capital flows into China, both in terms of volumes and composition. China`s inflows have generally been dominated by foreign direct investment (FDI), a pattern that appears to be favorable in light of the recent literature on the experiences of developing countries with financial globalization. We provide a detailed documentation of the evolution of China`s capital controls, a proximate determinant of the pattern of capital inflows. We also discuss a number of other intriguing hypotheses that attempt to capture the deeper causes underlying China`s approach to capital flows. In particular, we argue that some popular mercantilist-type arguments are inconsistent with the facts. We also analyze the recent rapid rise of China`s international reserves and discuss its implications. Contrary to some popular perceptions, the dramatic surge in foreign exchange reserves since 2001 is mainly attributable to non-FDI capital inflows, rather than current account surpluses or FDI.

The Chinese Approach To Capital Inflows

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Author : Mr.Eswar Prasad
language : en
Publisher: International Monetary Fund
Release Date : 2005-04-01

The Chinese Approach To Capital Inflows written by Mr.Eswar Prasad 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 2005-04-01 with Business & Economics categories.

In this paper, we adopt a cross-country perspective to examine the evolution of capital flows into China, both in terms of volumes and composition. China's inflows have generally been dominated by foreign direct investment (FDI), a pattern that appears to be favorable in light of the recent literature on the experiences of developing countries with financial globalization. We provide a detailed documentation of the evolution of China's capital controls, a proximate determinant of the pattern of capital inflows. We also discuss a number of other intriguing hypotheses that attempt to capture the "deeper" causes underlying China's approach to capital flows. In particular, we argue that some popular mercantilist-type arguments are inconsistent with the facts. We also analyze the recent rapid rise of China's international reserves and discuss its implications. Contrary to some popular perceptions, the dramatic surge in foreign exchange reserves since 2001 is mainly attributable to non-FDI capital inflows, rather than current account surpluses or FDI.

China S Growing Role In World Trade

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Author : Robert C. Feenstra
language : en
Publisher: University of Chicago Press
Release Date : 2010-03-10

China S Growing Role In World Trade written by Robert C. Feenstra and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-03-10 with Business & Economics categories.

In less than three decades, China has grown from playing a negligible role in international trade to being one of the world's largest exporters, a substantial importer of raw materials, intermediate outputs, and other goods, and both a recipient and source of foreign investment. Not surprisingly, China's economic dynamism has generated considerable attention and concern in the United States and beyond. While some analysts have warned of the potential pitfalls of China's rise—the loss of jobs, for example—others have highlighted the benefits of new market and investment opportunities for US firms. Bringing together an expert group of contributors, China's Growing Role in World Trade undertakes an empirical investigation of the effects of China's new status. The essays collected here provide detailed analyses of the microstructure of trade, the macroeconomic implications, sector-level issues, and foreign direct investment. This volume's careful examination of micro data in light of established economic theories clarifies a number of misconceptions, disproves some conventional wisdom, and documents data patterns that enhance our understanding of China's trade and what it may mean to the rest of the world.

The Belt Road And Beyond

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Author : Min Ye
language : en
Publisher: Cambridge University Press
Release Date : 2020-03-05

The Belt Road And Beyond written by Min Ye and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-03-05 with Business & Economics categories.

This investigation uses state-mobilized globalization as a framework to understand China's capitalism and emergence as a global power.

Capitalizing China

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Author : Joseph P. H. Fan
language : en
Publisher: University of Chicago Press
Release Date : 2013

Capitalizing China written by Joseph P. H. Fan and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.

La 4e de couverture indique : "Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist features disguise the profoundly unfamiliar foundations of "market socialism with Chinese characteristics." The Chinese Communist Party (CCP), by controlling the career advancement of all senior personnel in all regulatory agencies, all state-owned enterprises (SOEs), and virtually all major financial institutions state-owned enterprises (SOEs), and senior Party positions in all but the smallest non-SOE enterprises, retains sole possession of Lenin's Commanding Heights. The chapters in this volume examine China's high savings rate, banking system, financial markets, financial regulations, corporate governance, and public finances; and consider policy alternatives the CCP might consider if its goal is China's elevation into the ranks of high income countries."

Capitalism From Below

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Author : Victor Nee
language : en
Publisher: Harvard University Press
Release Date : 2012-06-19

Capitalism From Below written by Victor Nee and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-06-19 with Business & Economics categories.

Over 630 million Chinese escaped poverty since the 1980s, the largest decrease in poverty in history. Studying 700 manufacturing firms in the Yangzi region, the authors argue that the engine of China’s economic miracle—private enterprise—did not originate at the top but bubbled up from below, overcoming initial obstacles set up by the government.

Capital Controls And Capital Flows In Emerging Economies

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Author : Sebastian Edwards
language : en
Publisher: University of Chicago Press
Release Date : 2009-02-15

Capital Controls And Capital Flows In Emerging Economies written by Sebastian Edwards and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-02-15 with Business & Economics categories.

Some scholars argue that the free movement of capital across borders enhances welfare; others claim it represents a clear peril, especially for emerging nations. In Capital Controls and Capital Flows in Emerging Economies, an esteemed group of contributors examines both the advantages and the pitfalls of restricting capital mobility in these emerging nations. In the aftermath of the East Asian currency crises of 1997, the authors consider mechanisms that eight countries have used to control capital inflows and evaluate their effectiveness in altering the maturity of the resulting external debt and reducing macroeconomic vulnerability. This volume is essential reading for all those interested in emerging nations and the costs and benefits of restricting international capital flows.

Oecd Economic Surveys China 2010

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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2010-02-02

Oecd Economic Surveys China 2010 written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-02-02 with categories.

This 2010 edition of OECD's periodic review of China's economy finds that China's spectacular expansion has continued in recent years, making for impressive improvements in living standards. The slowdown associated with the global financial and ...

China S Exchange Rate Regime

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Author : China Development Research Foundation
language : en
Publisher: Routledge
Release Date : 2014-12-05

China S Exchange Rate Regime written by China Development Research Foundation and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-05 with Business & Economics categories.

The imbalance between China’s currency, the RMB, and those of other countries is widely regarded as a major problem for the world economy. There was a reform of China’s exchange rate mechanism in 2005, following which the RMB appreciated 17% against the US dollar, but many people argue that further reform is still needed. This book reports on a major research project undertaken following the 2005 reform to assess the impact on China’s economy. It considers the impact in a number of areas of the economy, including export-oriented companies, the banking industry, international trade, international capital flows, and China’s macroeconomic policy. It concludes that the policies pursued so far have been correct, and that further reform, both to the exchange rate, and to the system overall, would be desirable, but that any reform should be gradual and incremental, preserving economic stability, and integrating changes with reform in other parts of the economy.

China And Asia

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Author : Yin-Wong Cheung
language : en
Publisher: Routledge
Release Date : 2008-12-05

China And Asia written by Yin-Wong Cheung and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-12-05 with Business & Economics categories.

It is difficult to overstate the growing importance of China and Asia in the global economy. Despite the sharp downturn experienced in the 1997 financial crisis, China and Asia have bounced back strongly in the new millennium and delivered solid economic growth. In this book, Ying-Wong Cheung and Kar-Yiu Wong have gathered together 35 renowned researchers from four continents to examine contemporary issues on the economic and financial interactions with a focus on China and Asia. Four broad areas are discussed. The first part deals with China and her interactions with other economies, the second with economic interactions within the region, the third with foreign exchange rate issues facing Asian economies, and the fourth with financial market development in the region. Within these chapters, some interesting results are explained, many of which differ from what is commonly believed. For example it is explained how exports from China and other Asian economies follow the "flying geese’ pattern and that these economies can grow in harmony; that appreciating the Asian exchange rates would not have much impact on their current account surpluses; that financial liberalization in Thailand did not create the short-term debt problem, which is believed to a major cause of the 1997 financial crisis. It is also described how developments in the US have very strong influences on Asian economies and that Mainland China was a less important source of external shocks than is commonly held.