IDEAS home Printed from https://ideas.repec.org/a/cai/recosp/reco_596_1059.html
   My bibliography  Save this article

Croissance par les exportations, fragilité financière et gradualisme. Quels défis pour la Chine ?

Author

Listed:
  • Jean-Luc Gaffard
  • Francesco Saraceno

Abstract

The paper begins by discussing the features of the impressive macroeconomic performance of China since the reform started, linking them to the choice of an export led growth strategy. We then argue that such a strategy entails a structural change for the economy, whose analysis cannot be limited to the comparison between the initial and final equilibria. We then propose a sequential two sector model suited to analyze the disequilibrium transition following a trade shock. Our main conclusions are that, for a smooth successful transition towards the new equilibrium we need: (a) some frictions, notably in the mobility of firms across sectors; and (b) the availability of external financial means for firms undergoing the restructuring required by the transition. In China, these external means of financing were provided by fdis that compensated an insufficiently developed credit market.

Suggested Citation

  • Jean-Luc Gaffard & Francesco Saraceno, 2008. "Croissance par les exportations, fragilité financière et gradualisme. Quels défis pour la Chine ?," Revue économique, Presses de Sciences-Po, vol. 59(6), pages 1059-1073.
  • Handle: RePEc:cai:recosp:reco_596_1059
    as

    Download full text from publisher

    File URL: http://www.cairn.info/load_pdf.php?ID_ARTICLE=RECO_596_1059
    Download Restriction: free

    File URL: http://www.cairn.info/revue-economique-2008-6-page-1059.htm
    Download Restriction: free

    Other versions of this item:

    References listed on IDEAS

    as
    1. repec:cup:apsrev:v:78:y:1984:i:04:p:952-958_25 is not listed on IDEAS
    2. Laslier, Jean-François, 2006. "Spatial Approval Voting," Political Analysis, Cambridge University Press, vol. 14(02), pages 160-185, March.
    3. Igerseim, Herrade & Baujard, Antoinette & Laslier, Jean-François, 2016. "La question du vote. Expérimentations en laboratoire et In Situ," L'Actualité Economique, Société Canadienne de Science Economique, vol. 92(1-2), pages 151-189, Mars-Juin.
    4. Jean-François Laslier, 2009. "The Leader rule: a model of strategic approval voting in a large electorate," Post-Print hal-00363218, HAL.
    5. Francesco Sinopoli & Bhaskar Dutta & Jean-François Laslier, 2006. "Approval voting: three examples," International Journal of Game Theory, Springer;Game Theory Society, vol. 35(1), pages 27-38, December.
    6. Herrade Igersheim & Antoinette Baujard & Jean-François Laslier, 2016. "La question du vote. Expérimentations en laboratoire et In Situ," Working Papers 1633, Groupe d'Analyse et de Théorie Economique (GATE), Centre national de la recherche scientifique (CNRS), Université Lyon 2, Ecole Normale Supérieure.
    Full references (including those not matched with items on IDEAS)

    More about this item

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cai:recosp:reco_596_1059. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jean-Baptiste de Vathaire). General contact details of provider: http://www.cairn.info/revue-economique.htm .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.