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China in 2005 Revisited: The Implications of International Capital Mobility

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  • Ianchovichina, Elena
  • Robert McDougall
  • Thomas W. Hertel

Abstract

This paper revisits the analysis of the implications of China's economic growth on her trading partners presented in Arndt et al. (1997) using a dynamic, applied general equilibrium model that features international capital mobility. We find that accounting for the impact of China's growth on international capital markets reverses some of the findings in the paper by Arndt et al. In particular, net creditor regions lose while net debtor regions benefit from an economic slowdown in China due to the resulting decline in the cost of capital. Our analysis also reveals the importance of capital accumulation effects which interact with non-capital factor productivity and tax distortions in determining regional welfare.

Suggested Citation

  • Ianchovichina, Elena & Robert McDougall & Thomas W. Hertel, 2000. "China in 2005 Revisited: The Implications of International Capital Mobility," GTAP Working Papers 402, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
    • Handle: RePEc:gta:workpp:402
    Note: GTAP Working Paper No. 12
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    File URL: https://www.gtap.agecon.purdue.edu/resources/res_display.asp?RecordID=402
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    Cited by:

    1. Hertel, Thomas & Zhai, Fan, 2006. "Labor market distortions, rural-urban inequality and the opening of China's economy," Economic Modelling, Elsevier, vol. 23(1), pages 76-109, January.
    2. Jiao Wang & David G. Mayes & Guanghua Wan, 2005. "Income Distribution and Labour Movement in China After WTO Membership: a CGE Analysis," WIDER Working Paper Series RP2005-38, World Institute for Development Economic Research (UNU-WIDER).
    3. repec:zbw:bofitp:2005_018 is not listed on IDEAS
    4. Wang, Jiao & Mayes, David & Wan, Guanghua, 2005. "Effects of WTO membership on income distribution and labour movement in China : A CGE analysis," BOFIT Discussion Papers 18/2005, Bank of Finland, Institute for Economies in Transition.

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