Rebalancing Growth in China: A Three-Handed Approach
Our paper is an attempt to define the contours of the right macroeconomic strategy for China. In a nutshell, we believe that the package includes a decrease in saving, with a focus on private saving, an increase in the supply of services, in particular health services, and an appreciation of the RMB. This is why we refer to this strategy as a 'three-handed approach': action on the fiscal and budgetary front, accompanied by currency revaluation. We start by asking how the Chinese economy got to where it is - what the strategy has been since the beginning of the reforms, and what the main characteristics of the economy are today. We then ask what is the desirable path for the future, and which are the main policy tradeoffs implied by such a path. Finally, we put the various pieces together to describe what we believe is a consistent policy package.
|Date of creation:||Jan 2006|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: 44 - 20 - 7183 8801
Fax: 44 - 20 - 7183 8820
|Order Information:|| Email: |
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.:
- Rodrik, Dani, 2006.
"What's So Special about China's Exports?,"
Working Paper Series
rwp06-001, Harvard University, John F. Kennedy School of Government.
- Feldstein, Martin S, 1973. "The Welfare Loss of Excess Health Insurance," Journal of Political Economy, University of Chicago Press, vol. 81(2), pages 251-80, Part I, M.
- Jonathan Gruber & Aaron Yelowitz, 1999.
"Public Health Insurance and Private Savings,"
Journal of Political Economy,
University of Chicago Press, vol. 107(6), pages 1249-1274, December.
- Jonathan Gruber & Aaron Yelowitz, 1997. "Public Health Insurance and Private Savings," UCLA Economics Working Papers 772, UCLA Department of Economics.
- J. Gruber & A. Yelowitz, . "Public Health Insurance and Private Savings," Institute for Research on Poverty Discussion Papers 1135-97, University of Wisconsin Institute for Research on Poverty.
- Jonathan Gruber & Aaron S. Yelowitz, 1998. "Public Health Insurance and Private Savings," JCPR Working Papers 42, Northwestern University/University of Chicago Joint Center for Poverty Research.
- Jonathan Gruber & Aaron Yelowitz, 1997. "Public Health Insurance and Private Savings," NBER Working Papers 6041, National Bureau of Economic Research, Inc.
- Jones, Derek C. & Li, Cheng & Owen, Ann L., 2003.
"Growth and regional inequality in China during the reform era,"
China Economic Review,
Elsevier, vol. 14(2), pages 186-200.
- Derek C. Jones & Cheng Li & Ann L. Owen, 2003. "Growth and Regional Inequality in China During the Reform Era," William Davidson Institute Working Papers Series 2003-561, William Davidson Institute at the University of Michigan.
- Brun, J. F. & Combes, J. L. & Renard, M. F., 2002.
"Are there spillover effects between coastal and noncoastal regions in China?,"
China Economic Review,
Elsevier, vol. 13(2-3), pages 161-169.
- Jean-François BRUN & Jean-Louis COMBES & Mary-Françoise RENARD, 2001. "Are There Spillover Effects Between Coastal and Non-Coastal Regions in China ?," Working Papers 200113, CERDI.
- Raghuram G. Rajan & Eswar S. Prasad, 2005.
"Controlled Capital Account Liberalisation: A Proposal,"
- Eswar Prasad & Raghuram Rajan, 2005. "Controlled Capital Account Liberalization; A Proposal," IMF Policy Discussion Papers 05/7, International Monetary Fund.
- Fang, Cheng & Zhang, Xiaobo & Fan, Shenggen, 2002. "Emergence of urban poverty and inequality in China: evidence from household survey," China Economic Review, Elsevier, vol. 13(4), pages 430-443, December.
- Zhu, Nong, 2002. "The impacts of income gaps on migration decisions in China," China Economic Review, Elsevier, vol. 13(2-3), pages 213-230.
- Zhang, Xiaobo & Kanbur, Ravi, 2005.
"Spatial inequality in education and health care in China,"
China Economic Review,
Elsevier, vol. 16(2), pages 189-204.
- Zhang, Xiaobo & Kanbur, Ravi, 2003. "Spatial Inequality In Education And Health Care In China," Working Papers 127256, Cornell University, Department of Applied Economics and Management.
- Kanbur, Ravi & Zhang, Xiaobo, 2003. "Spatial Inequality in Education and Health Care in China," CEPR Discussion Papers 4136, C.E.P.R. Discussion Papers.
- Xiaobo Zhang & Ravi Kanbur, 2004. "Spatial Inequality in Education and Health Care in China," Working Papers 159, Institute for Social and Economic Change, Bangalore.
- Peter Diamond, 2004. "Social Security," American Economic Review, American Economic Association, vol. 94(1), pages 1-24, March.
- Kuijs, Louis, 2005. "Investment and saving in China," Policy Research Working Paper Series 3633, The World Bank.
- Wagstaff, Adam & Pradhan, Menno, 2005. "Health insurance impacts on health and nonmedical consumption in a developing country," Policy Research Working Paper Series 3563, The World Bank.
- Albert G. Z. Hu & Gary H. Jefferson & Qian Jinchang, 2005. "R&D and Technology Transfer: Firm-Level Evidence from Chinese Industry," The Review of Economics and Statistics, MIT Press, vol. 87(4), pages 780-786, November.
- Manning, Willard G. & Marquis, M. Susan, 1996. "Health insurance: The tradeoff between risk pooling and moral hazard," Journal of Health Economics, Elsevier, vol. 15(5), pages 609-639, October.
- Zhang, Kevin Honglin & Song, Shunfeng, 2003. "Rural-urban migration and urbanization in China: Evidence from time-series and cross-section analyses," China Economic Review, Elsevier, vol. 14(4), pages 386-400.
When requesting a correction, please mention this item's handle: RePEc:cpr:ceprdp:5403. 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: ()The email address of this maintainer does not seem to be valid anymore. Please ask to update the entry or send us the correct address
If references are entirely missing, you can add them using this form.