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The transmission effects of iron ore price shocks on China's economy and industries: a CGE approach

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  • Lafang Wang
  • Mingyong Lai
  • Baojun Zhang

Abstract

This paper assesses the transmission impacts of world iron ore price fluctuation on China's macroeconomics and industries. The analytical framework is a computable general equilibrium model. The results demonstrate that a sharp increase in imported iron ore price will exert certain negative effects on macroeconomic and industries in China. It exerts a negative chain-effect on regional output and employment in Beijing, Tianjin, Liaoning, Shanghai and Hainan province, while a slight impact on Gansu and Qinghai province. Finally, we carry out the systematic sensitivity analysis, and found that the sensitivity of the model results with respect to import trade function is not strong.

Suggested Citation

  • Lafang Wang & Mingyong Lai & Baojun Zhang, 2007. "The transmission effects of iron ore price shocks on China's economy and industries: a CGE approach," International Journal of Trade and Global Markets, Inderscience Enterprises Ltd, vol. 1(1), pages 23-43.
    • Handle: RePEc:ids:ijtrgm:v:1:y:2007:i:1:p:23-43
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    Cited by:

    1. Chen, Yufeng & Yang, Shuo, 2021. "Time-varying effect of international iron ore price on China’s inflation: A complete price chain with TVP-SVAR-SV model," Resources Policy, Elsevier, vol. 73(C).
    2. Sun, Sizhong & Anwar, Sajid, 2019. "R&D activities and FDI in China’s iron ore mining industry," Economic Analysis and Policy, Elsevier, vol. 62(C), pages 47-56.

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