The Peopleâ€™s Republic of China and Global Imbalances from a View of Sectorial Reforms
AbstractThis paper examines the impact of sectorial reforms on current account imbalances, with a special focus on the Peopleâ€™s Republic of China (PRC). In particular, we investigate to what extent reforms pertaining to the financial sector, social protection, and healthcare may contribute to a rebalancing of the PRCâ€™s persistent current account imbalances. Our forecasting results suggest that reforming the financial sector would be a significant contributor to the countryâ€™s rebalancing with an effect much larger than that of capital account liberalization. Strengthened provisions of social protection and publicly-funded healthcare are also found to contribute to a rebalancing of the PRC economy.
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Bibliographic InfoPaper provided by East Asian Bureau of Economic Research in its series Macroeconomics Working Papers with number 23353.
Date of creation: Nov 2012
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the PRC and Global Imbalances; financial sector; current account imbalances; Capital account liberalization; social protection; rebalancing;
Other versions of this item:
- Hiro Ito & Ulrich Volz, 2012. "The Peopleâ€™s Republic of China and Global Imbalances from a View of Sectorial Reforms," Finance Working Papers 23353, East Asian Bureau of Economic Research.
- F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-12-06 (All new papers)
- NEP-SEA-2012-12-06 (South East Asia)
- NEP-TRA-2012-12-06 (Transition Economics)
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