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Effects of the Global Financial Crisis on Chinese Economy

Author

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  • Cenk Gokce Adas
  • Bibigul Tussupova

Abstract

China is one of very few countries to escape the world financial crisis and experienced only a mild slowdown in economic activity without a recession. Experts point out that the global financial crisis in United States has had no major impact on China. Also, it has been estimated that China was less affected by the financial meltdown than other countries, due to its more closed financial system. The aim of this paper is to investigate the effects of the global financial crisis on Chinese economy. For this reason we have studied two models; one is the E-GARCH Model, which estimated the effect of the crisis on the Chinese stock exchange, and second is the Extended Gravity Model with Panel Least Square Method, which examined how China¡¯s exports have been affected by the global financial crisis. Our empirical results suggest that global financial crisis moderately impacted the Chinese stock exchange and but it badly affected China¡¯s exports.

Suggested Citation

  • Cenk Gokce Adas & Bibigul Tussupova, 2016. "Effects of the Global Financial Crisis on Chinese Economy," International Journal of Social Science Studies, Redfame publishing, vol. 4(4), pages 136-150, April.
    • Handle: RePEc:rfa:journl:v:4:y:2016:i:4:p:136-150
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    Citations

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    Cited by:

    1. GuoXiang Tang & Kwangtae Park & Anurag Agarwal & Feng Liu, 2020. "Impact of Innovation Culture, Organization Size and Technological Capability on the Performance of SMEs: The Case of China," Sustainability, MDPI, vol. 12(4), pages 1-14, February.
    2. Konstantinos N. Konstantakis & Panayotis G. Michaelides & Livia Chatzieleftheriou & Arsenios‐Georgios N. Prelorentzos, 2022. "Crisis and the Chinese miracle: A network—GVAR model," Bulletin of Economic Research, Wiley Blackwell, vol. 74(3), pages 900-921, July.

    More about this item

    Keywords

    China; E-GARCH model; extended Gravity model; the Global Financial Crisis;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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