Putting The Cart Before The Horse Capital Account Liberalization And Exchange Rate Flexibility In China

Author : Mr.Eswar Prasad
Publisher : International Monetary Fund
ISBN 13 : 1451975457
Total Pages : 32 pages
Book Rating : 4.51/5 ( download)

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Download or read book Putting the Cart Before the Horse? Capital Account Liberalization and Exchange Rate Flexibility in China written by Mr.Eswar Prasad and published by International Monetary Fund. This book was released on 2005-01-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the issues involved in moving towards greater exchange rate flexibility and capital account liberalization in China. A more flexible exchange rate regime would allow China to operate a more independent monetary policy, providing a useful buffer against domestic and external shocks. At the same time, weaknesses in China’s financial system suggest that capital account liberalization poses significant risks and should be a lower priority in the short term. This paper concludes that greater exchange rate flexibility is in China’s own interest and that, along with a more stable and robust financial system, it should be regarded as a prerequisite for undertaking a substantial liberalization of the capital account.

Author : Eswar Prasad
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.17/5 ( download)

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Download or read book Putting the Cart Before the Horse? written by Eswar Prasad and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Jeffrey M. Chwieroth
Publisher : Princeton University Press
ISBN 13 : 1400833825
Total Pages : 332 pages
Book Rating : 4.25/5 ( download)

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Download or read book Capital Ideas written by Jeffrey M. Chwieroth and published by Princeton University Press. This book was released on 2009-12-14 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: The right of governments to employ capital controls has always been the official orthodoxy of the International Monetary Fund, and the organization's formal rules providing this right have not changed significantly since the IMF was founded in 1945. But informally, among the staff inside the IMF, these controls became heresy in the 1980s and 1990s, prompting critics to accuse the IMF of indiscriminately encouraging the liberalization of controls and precipitating a wave of financial crises in emerging markets in the late 1990s. In Capital Ideas, Jeffrey Chwieroth explores the inner workings of the IMF to understand how its staff's thinking about capital controls changed so radically. In doing so, he also provides an important case study of how international organizations work and evolve. Drawing on original survey and archival research, extensive interviews, and scholarship from economics, politics, and sociology, Chwieroth traces the evolution of the IMF's approach to capital controls from the 1940s through spring 2009 and the first stages of the subprime credit crisis. He shows that IMF staff vigorously debated the legitimacy of capital controls and that these internal debates eventually changed the organization's behavior--despite the lack of major rule changes. He also shows that the IMF exercised a significant amount of autonomy despite the influence of member states. Normative and behavioral changes in international organizations, Chwieroth concludes, are driven not just by new rules but also by the evolving makeup, beliefs, debates, and strategic agency of their staffs.

Author : Zheng Yong-nian
Publisher : World Scientific
ISBN 13 : 9811203636
Total Pages : 360 pages
Book Rating : 4.33/5 ( download)

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Download or read book China's Economic Modernisation And Structural Changes: Essays In Honour Of John Wong written by Zheng Yong-nian and published by World Scientific. This book was released on 2019-03-05 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a timely update on the ongoing transformation of the Chinese economy. As the world's second largest economy, China marked the 40th anniversary of economic reform and opening-up in 2018. In this book, top scholars on Chinese economic studies review China's remarkable economic achievement in the past four decades and analyse the challenges facing economic development in the country.The book focusses on structural changes of China's economy, which are essential to steer the country towards sustainable development. It studies the long-term factors affecting the Chinese economy such as education and innovation, and emerging sources of economic growth, such as e-commerce. Other important aspects of the Chinese economy explored in this book include the economic role of the Chinese government, fiscal reforms, capital account liberalisation, housing policies, competition policy and anti-monopoly law, China's export, trends of regional development and reforms of state-owned enterprises.This rich collection of policy-oriented economic studies is also a tribute to Professor John Wong, former research director of the East Asian Institute, National University of Singapore, who passed away in June 2018. For over three decades, Professor Wong had followed and provided insightful analyses on China's economic development.

Author : Morris Goldstein
Publisher : Peterson Institute
ISBN 13 : 0881325392
Total Pages : 401 pages
Book Rating : 4.93/5 ( download)

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Download or read book Debating China's Exchange Rate Policy written by Morris Goldstein and published by Peterson Institute. This book was released on 2008 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Ross Garnaut
Publisher : ANU E Press
ISBN 13 : 1921313382
Total Pages : 466 pages
Book Rating : 4.87/5 ( download)

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Download or read book China. Linking Markets for Growth written by Ross Garnaut and published by ANU E Press. This book was released on 2007-08-01 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's prosperity is at the core of the emerging Platinum Age of global economic growth. Rapid economic growth has been underpinned by expansion in its domestic markets, and the integration of domestic and international markets in goods, services, capital, labour and foreign exchange. Global commodity prices have reached historic highs, while Chinas capital outflows have helped to hold down interest rates worldwide. Linking markets, both domestic and international, has been key to Chinas success. In sustaining its strong economic growth, China has become one of the worlds most voracious consumers of energy. The challenge now facing the government and people of China is in achieving cooperation with the international community to avert the costs - both economic and environmental - of accelerating energy consumption. CHINA: LINKING MARKETS FOR GROWTH gathers together leading scholars on Chinas economic success and its effect on the world economy into the next few decades.

Author : United States. Congress. Senate. Committee on Finance
Publisher :
ISBN 13 :
Total Pages : 108 pages
Book Rating : 4.02/5 ( download)

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Download or read book Risks and Reform written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 2007 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Yin-Wong Cheung
Publisher : MIT Press
ISBN 13 : 0262304945
Total Pages : 473 pages
Book Rating : 4.48/5 ( download)

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Download or read book The Evolving Role of China in the Global Economy written by Yin-Wong Cheung and published by MIT Press. This book was released on 2012-11-30 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: Experts analyze four factors in China's economic growth: exchange rate policy, savings and investments, monetary policy, and foreign direct investments. China is now the world's second largest economy and may soon overtake the United States as the world's largest. Despite its adoption of some free-market principles, China considers itself a “socialist-market economy,” suggesting that the government still plays a major role in the country's economic development. This book offers a systematic analysis of four factors in China's rapid economic growth: exchange rate policy, savings and investment, monetary policy and capital controls, and foreign direct investment (FDI). Contributors offer fresh perspectives on the undervaluation of the renminbi, the dollar peg, and China's macroeconomic relationships with the rest of the world. They review factors shaping China's saving dynamics and analyze the growth of the private sector despite limited access to external finance. They examine the monetary policy independence of the People's Bank of China, offshore markets for China's currency, and the effectiveness of China's capital controls. Finally, they consider Chinese FDI in terms of China's growing demand for energy and raw materials, exploring the factors that drive China's FDI in the conventional oil-producing countries and in Africa.

Author : Dali L. Yang
Publisher : World Scientific
ISBN 13 : 9812834257
Total Pages : 215 pages
Book Rating : 4.56/5 ( download)

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Download or read book China's Reforms at 30 written by Dali L. Yang and published by World Scientific. This book was released on 2009 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book consists of papers presented at the International Conference on OC China: The Next DecadeOCO, organized by the East Asian Institute at the National University of Singapore in 2007 to commemorate the Institute''s 10th anniversary. With eight papers covering China''s economic, social and political development, this volume offers a balanced yet in-depth assessment of the challenges facing China in the next decade.

Author : Chi Lo
Publisher : Springer
ISBN 13 : 1137538791
Total Pages : 220 pages
Book Rating : 4.96/5 ( download)

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Download or read book China’s Impossible Trinity written by Chi Lo and published by Springer. This book was released on 2016-04-29 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book highlights the difficult policy choice that must ultimately be made during China's structural reform according to the theory of the Impossible Trinity, between exchange rate and monetary policy autonomy.