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From closed to open door policy: An empirical study of Chinas international capital mobility, 1958-98

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Author Info
Adler, Johan (Department of Economics, School of Economics and Commercial Law, Göteborg University)
Abstract

This paper employs the intertemporal consumption smoothing approach to the current account to measure the effective degree of Chinas international capital mobility during the period 1958-98. In contrast to all previous known country studies using this framework, the hypothesis that capital has been at least mobile enough to allow for full consumption smoothing behavior is rejected. Also, although there is clear evidence of a drastic increase in mobility following the introduction of the open door policy in the late 1970s, the result indicate that there remain effective barriers to Chinas international capital movements.

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File URL: http://hdl.handle.net/2077/2869
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Publisher Info
Paper provided by Göteborg University, Department of Economics in its series Working Papers in Economics with number 64.

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Length: 34 pages
Date of creation: 18 Oct 2001
Date of revision:
Handle: RePEc:hhs:gunwpe:0064

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Postal: Department of Economics, School of Business, Economics and Law, Göteborg University Box 640, SE 405 30 GÖTEBORG, Sweden
Phone: 031-773 10 00
Web page: http://www.handels.gu.se/econ/
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Related research
Keywords: Capital mobility; China; Consumption smoothing; Current account;

Find related papers by JEL classification:
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
F47 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Forecasting and Simulation

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