A Novel End to the Big Inflation in China in 1950
The Chinese inflation of 1949-1950 was fueled by large budget deficits but was ended in March 1950 before significant deficit reduction occurred. We discuss the fiscal strains that gave rise to this inflation and consider the role played by early Communist market-based anti-inflationary measures such as the "economic warfare" against speculators conducted by the government’s state trading companies. While later monetary and fiscal tightening sustained the stabilization achieved in March—at considerable cost to the real economy—the Chinese experience seems to confirm that there is more to inflation stabilization than fiscal balance alone.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:|
|Date of revision:|
|Contact details of provider:|| Postal: 500 E. 9th Street, Claremont, CA 91711|
Phone: (909) 607-3041
Fax: (909) 621-8249
Web page: http://www.claremontmckenna.edu/rdschool/papers/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Obstfeld, Maurice & Rogoff, Kenneth S., 1983.
"Speculative Hyperinflations in Maximizing Models: Can We Rule Them Out?,"
12491027, Harvard University Department of Economics.
- Obstfeld, Maurice & Rogoff, Kenneth, 1983. "Speculative Hyperinflations in Maximizing Models: Can We Rule Them Out?," Journal of Political Economy, University of Chicago Press, vol. 91(4), pages 675-87, August.
- Maurice Obstfeld & Kenneth Rogoff, 1982. "Speculative Hyperinflations in Maximizing Models: Can We Rule Them Out?," NBER Working Papers 0855, National Bureau of Economic Research, Inc.
- Maurice Obstfeld & Kenneth S. Rogoff, 1981. "Speculative hyperinflations in a maximizing models: can we rule them out?," International Finance Discussion Papers 195, Board of Governors of the Federal Reserve System (U.S.).
- Carl Blumstein & Paul Komor, 1996. "Another look at the strategic petroleum reserve: Should its oil holdings be privatized?," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 15(2), pages 271-275.
- Eckstein,Alexander, 1977. "China's Economic Revolution," Cambridge Books, Cambridge University Press, number 9780521291897, December.
- Richard C.K. Burdekin, . "Ending Inflation in the People's Republic of China: From Chairman Mao to the 21st Century," Claremont Colleges Working Papers 2000-08, Claremont Colleges.
When requesting a correction, please mention this item's handle: RePEc:clm:clmeco:1999-30. 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: ()
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.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 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.