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Measuring China's Fiscal Policy Stance

  • Sebastian Dullien

    (Financial Times Deutschland)

This paper argues that the tradtitional way of gauging a country's fiscal policy stance by looking at government budget deficit or cyclically adjusted budget deficits is misleading in the case of China, since a lot of what usually would be considered fiscal policy is conducted via investment by state owned enterprises. The paper therefore proposes a different indicator for the fiscal policy stance, constructed from government consumption, government expenditure, the state-owned- enterprises' investments and tax revenue. Using this indicator, it can be shown that fiscal policy has been strongly counter-cyclical in China over the past two decades.

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File URL: http://econwpa.repec.org/eps/mac/papers/0502/0502032.pdf
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Paper provided by EconWPA in its series Macroeconomics with number 0502032.

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Length: 11 pages
Date of creation: 28 Feb 2005
Date of revision:
Handle: RePEc:wpa:wuwpma:0502032
Note: Type of Document - pdf; pages: 11
Contact details of provider: Web page: http://econwpa.repec.org

References listed on IDEAS
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  1. Jia, Kang, 2002. "Pro-active fiscal policy in China since 1998: backgrounds and its emphases in practice," Journal of Asian Economics, Elsevier, vol. 13(5), pages 615-622.
  2. Lin, Guijun & Schramm, Ronald M., 2003. "China's foreign exchange policies since 1979: A review of developments and an assessment," China Economic Review, Elsevier, vol. 14(3), pages 246-280.
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