Download or read book People s Republic of China written by International Monetary Fund and published by International Monetary Fund. This book was released on 2008-02-04 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hong Kong has grown strongly as a result of its successful transformation from a manufacturing presence to a services hub over past decades. Executive Directors support the government’s commitment for the Linked Exchange Rate System. Hong Kong’s future as a financial center is linked to its expanding role in mainland intermediation. Although the current fiscal stance is appropriate, some fiscal reforms remain pending. The government is aware of the central importance of Hong Kong’s traditional strengths to its ongoing success.
Download or read book China s Growing Role in World Trade written by Robert C. Feenstra and published by University of Chicago Press. This book was released on 2010-03-10 with total page 603 pages. Available in PDF, EPUB and Kindle. Book excerpt: In less than three decades, China has grown from playing a negligible role in international trade to being one of the world's largest exporters, a substantial importer of raw materials, intermediate outputs, and other goods, and both a recipient and source of foreign investment. Not surprisingly, China's economic dynamism has generated considerable attention and concern in the United States and beyond. While some analysts have warned of the potential pitfalls of China's rise—the loss of jobs, for example—others have highlighted the benefits of new market and investment opportunities for US firms. Bringing together an expert group of contributors, China's Growing Role in World Trade undertakes an empirical investigation of the effects of China's new status. The essays collected here provide detailed analyses of the microstructure of trade, the macroeconomic implications, sector-level issues, and foreign direct investment. This volume's careful examination of micro data in light of established economic theories clarifies a number of misconceptions, disproves some conventional wisdom, and documents data patterns that enhance our understanding of China's trade and what it may mean to the rest of the world.
Download or read book Exchange Rate Misalignment written by Lawrence E. Hinkle and published by World Bank Publications. This book was released on 1999 with total page 638 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study cautiously identifies exchange rate misalignment as an important element in most of the exchange rate crises that plagued the developing world during the last decade. Given that the increasing integration of world capital markets, has escalated the costs of such crises, a broad consensus emerged in recent years, that the overriding objective of exchange rate policy in developing countries, should be to avoid episodes of prolonged, and substantial misalignment, i.e., situations in which the actual real exchange rate differs significantly from its long-run equilibrium value. It was the Bank's involvement in one such misalignment episode, that eventually led to this book. Following an overview on the concepts and measurement of exchange rate misalignment, its impact on the purchasing power parity, and the relationship between the external real exchange rate (RER), and the two-good internal RER for tradables non-tradables, the study presents methodologies - empirical applications - for estimating the RER equilibrium. The study reaches an optimistic conclusion - that enough is known to identify cases of misalignment, and be able to sound clear warning signals. The implication for exchange rate policy is that ignorance about the empirical value of the equilibrium exchange rate, cannot be used to clinch arguments for extreme exchange arrangements, such as clean floats, currency boards, and "dollarization."
Download or read book People s Republic of China Hong Kong Special Administrative Region written by International Monetary Fund and published by International Monetary Fund. This book was released on 2009-12-04 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2009 Article IV Consultation highlights that Hong Kong Special Administrative Region’s economy was severely affected by the global financial crisis. The recovery is now under way, fueled by growth on the Mainland, supportive policies, and accommodative monetary conditions imported from the United States. Despite the steepness of the downturn in early 2009, job losses have been relatively modest and unemployment now stands at 5.2 percent. Executive Directors have welcomed the robustness of the Hong Kong banking system, the result of banks’ careful risk management, and the authorities’ vigilant, prudent regulation and enforcement.
Download or read book China s Evolving Exchange Rate Regime written by Mr.Sonali Das and published by International Monetary Fund. This book was released on 2019-03-07 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquidity in the onshore FX market is relatively low compared to other countries with de jure floating currencies. Allowing a greater role for market forces within the existing regime, and greater two-way flexibility of the exchange rate, are important steps to build on the progress already made. This should be complemented by further steps to develop the FX market, improve FX risk management, and modernize the monetary policy framework.
Download or read book Asia And China In The Global Economy written by Yin-wong Cheung and published by World Scientific. This book was released on 2011-07-29 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: The volume represents a collection of papers that examine important topical themes related to the rise of China and Asia in the global economy. It offers many useful insights on several issues that are hotly debated in the international community, especially in the aftermath of the recent global financial crisis. The contributors are renowned experts from academic institutions, central banks, and international organizations. Their analyses and points of view offer valuable insights for researchers and policymakers who are interested in the recent developments in China, Asia, and the global economy.Specifically, the thirteen chapters contained in the volume address four broad themes. The first theme is on open macroeconomics and transmission mechanisms that highlight the interactions between countries in the globalization era. The second theme covers the contentious issue of renminbi valuation, which has significant implications for the debate on global imbalances. The third theme covers currency internationalization and financial markets in Asia. In particular, two chapters discuss renminbi internationalization and yen internationalization, while the other two papers examine yen carry trade and the Asian credit card market. The fourth theme is external demand and fiscal stimulus in Asian countries.
Download or read book Chinese Macroeconomy written by Ninghua Sun and published by Taylor & Francis. This book was released on 2022-10-17 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deploys quantitative methods to focus on the operation of the Chinese economy as a whole since the reforms in 1978, by combining a range of mathematical, algorithmic and computational methods to analyze rich empirical data, seeking to demonstrate the long-term economic trends and dynamics of economic growth and fluctuations in China. To answer the core question of how the Chinese economy became what it is, the author draws on dynamic stochastic general equilibrium (DSGE) modeling and calibration, while also exploring microfoundations to reveal optimization behavior within a context of economic change at the macrolevel. The book examines internal shocks in the Chinese economic system, including institutional changes, credit policy and monetary policy, which are all closely associated with issues of enhancing the coordination and sustainability of development and the effectiveness and efficiency of policy reforms. It also elaborates on China’s close interactions with the global economy, shedding light on the dynamic effects of energy prices, the Chinese Yuan exchange rate and foreign direct investment. This book is an essential reference for researchers and students interested in the Chinese economy, methods of microeconomic dynamics and macroeconomic theory and policy.
Download or read book Reforms in China s Monetary Policy written by Sun Guofeng and published by Springer. This book was released on 2016-04-29 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's financial reforms have undergone a large-scale transformation over the past several years. This book aims to outline the structure and current features of China's monetary policy, drawing upon the author's years of experience working within the People's Bank of China and insider's view of the decision-making process.
Download or read book China s Exchange Rate Regime written by China Development Research Foundation and published by Routledge. This book was released on 2014-12-05 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: The imbalance between China’s currency, the RMB, and those of other countries is widely regarded as a major problem for the world economy. There was a reform of China’s exchange rate mechanism in 2005, following which the RMB appreciated 17% against the US dollar, but many people argue that further reform is still needed. This book reports on a major research project undertaken following the 2005 reform to assess the impact on China’s economy. It considers the impact in a number of areas of the economy, including export-oriented companies, the banking industry, international trade, international capital flows, and China’s macroeconomic policy. It concludes that the policies pursued so far have been correct, and that further reform, both to the exchange rate, and to the system overall, would be desirable, but that any reform should be gradual and incremental, preserving economic stability, and integrating changes with reform in other parts of the economy.
Download or read book Are Chinese Exports Sensitive to Changes in the Exchange Rate written by Shaghil Ahmed and published by DIANE Publishing. This book was released on 2011-04 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Builds a model of two types of Chinese exports, those processed and assembled from imported inputs ("processed" exports (PE)) and "non-processed" exports (NPE). When the source of the increase in the Chinese real exchange rate (CRER) is appreciation against the currencies of other emerging Asian trading partners, the effect on PE is positive but insignificant, while the effect on NPE is negative. By contrast, when the source of the increase in the CRER is appreciation against China's advanced-economy trading partners, the effects on both types of exports are negative. Thus greater exchange rate flexibility could contribute to lowering China's trade surplus through restraining growth of exports. Illustrations. A print on demand report.
Download or read book Rising China written by Jane Golley and published by ANU E Press. This book was released on 2011-06-01 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: Where the last three decades of the 20th century witnessed a China rising on to the global economic stage, the first three decades of the 21st century are almost certain to bring with them the completion of that rise, not only in economic, but also political and geopolitical terms. China's integration into the global economy has brought one-fifth of the global population into the world trading system, which has increased global market potential and integration to an unprecedented level. The increased scale and depth of international specialisation propelled by an enlarged world market has offered new opportunities to boost world production, trade and consumption; with the potential for increasing the welfare of all the countries involved. However, China's integration into the global economy has forced a worldwide reallocation of economic activities. This has increased various kinds of friction in China's trading and political relations with others, as well as generating several globally significant externalities. Finding ways to accommodate China's rise in a way that ensures the future stability and prosperity of the world economy and polity is probably the most important task facing the world community in the first half of the 21st century. The book delves into these issues to reflect upon the wide range of opportunities and challenges that have emerged in the context of a rising China.
Download or read book Globalization and East Asia written by Erdener Kaynak and published by Routledge. This book was released on 2014-06-03 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: Learn to apply the strategies used in East Asia’s phenomenal economic expansion The phenomenal economic growth of many countries in East Asia has no historic parallel. Globalization and East Asia: Opportunities and Challenges examines different aspects of the economic performance of the region over the past three decades, with a focus on what it takes to replicate the experience elsewhere. Nineteen of the finest presentations from the 12th International Conference of the International Trade and Finance Association in Bangkok, Thailand, have been carefully selected and revised by their expert authors, providing powerful, practical economic development approaches that can be used to develop other economies. This comprehensive volume presents an insightful four-part view of the intricate economic workings of East Asia. The first part introduces the distinctive qualities of the policies that sparked economic growth and development. Part two provides comparative studies of different countries and industries in the region and an in-depth study of the East Asian area over the past fifty years. Part three presents sector specific studies within several countries, focusing on international finance. The fourth part spotlights important industry-specific elements and explores the future of globalization in relation to its effects on East Asia. Each chapter is extensively referenced, and several use tables and charts to clearly reinforce crucial points. Globalization and East Asia includes topics such as: the characteristics of East Asian economic growthand how other areas will benefit the rapid economic growth of the region since the end of World War II an evaluation of efficiency and leveraging of assets comparing the United States and the Four Dragon (FD) industries structural weaknesses within Asian countries trade flows between the United States and Thailand a bilateral study the progress of APEC’s environmental cooperation financial resource flows during the 1990s Malaysian financial markets and the Asian financial crisis China’s economic transition and exchange rate policies the use of dual production theory as a model in the world economy Thailand’s telecommunications sectorand how it provides illustration for other sector specific industries in developing countries development of bilateral trade negotiations between the United States and Vietnam the status of United States apparel imports Globalization and East Asia is important, insightful reading for researchers, scholars, and professionals specializing in regional economics and economic development.
Download or read book Agricultural Producer Support Estimates for Developing Countries written by Orden, David and published by Intl Food Policy Res Inst. This book was released on 2007 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: By examining and comparing agricultural policies in India, Indonesia, China, and Vietnam, this study helps fill a significant gap in development research. The report provides an assessment of conceptual and measurement issues related to the effects of trade and domestic-support policies and policy reforms on the incentives of agricultural producers and presents empirical estimates of the degree of protection or disprotection in the four countries. From India's countercyclical policy outcomes and Indonesia's high levels of agricultural protection, to the trend toward modest support of agriculture in China and Vietnam, the report's results demonstrate both how changes in agricultural policy can improve farmers' incentives as economic growth occurs and how difficult it is to reform entrenched policy interventions. Through such findings, the report contributes to policy discussions on creating propoor policies related to agricultural support and trade, both at the domestic level and in international negotiations.
Download or read book Global Linkages And Economic Rebalancing In East Asia written by Shigeyuki Hamori and published by World Scientific. This book was released on 2012-12-19 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the global financial crisis, leading industrialized countries have managed to show only a gradual recovery, while East Asian economies have surged ahead. In particular, China achieved growth in excess of 10% in 2010 and is expected to continue growing at a rapid pace. It appears that in the coming years, East Asia will play an even greater role as a growth center leading global economic expansion. Following the Asian currency crisis of 1997-98, consumption and investment in the region decreased considerably, and East Asian economies recovered on the strength of exports. Presently, however, amid a less-than-robust recovery in the US and Europe, the sustainability of East Asia's reliance on export-led growth has been called into question. The region's transition to growth based on a balance of foreign and domestic demand is important for both building a stronger foundation for sustainable growth and buttressing global economic expansion. Moreover, the rebalancing of demand in East Asia holds the key to rectifying global current account imbalances — the disadvantage of uneven international capital flows. This unique volume illuminates policy issues involved in the efforts to promote the rebalancing of demand in East Asia.
Download or read book People s Republic of China written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2017-08-15 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2017 Article IV Consultation highlights China’s continuing transition to a more sustainable growth path and the advance of reforms across a wide domain. Growth slowed to 6.7 percent in 2016 and is projected to remain robust, at 6.7 percent, in 2017 owing to the momentum from last year’s policy support, strengthening external demand, and progress in domestic reforms. Inflation rose to 2 percent in 2016 and is expected to remain stable, at 2 percent, in 2017. Essential supervisory and regulatory action is being taken against financial sector risks, and corporate debt is growing more slowly, reflecting restructuring initiatives and overcapacity reduction.
Download or read book Exchange Rate Policies in Emerging Asian Countries written by Stefan Collignon and published by Routledge. This book was released on 2003-09-02 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the future of Asian currencies in a changing monetary system assessing the roles of the dollar, Euro and yen.
Download or read book Handbook of Exchange Rates written by Jessica James and published by John Wiley & Sons. This book was released on 2012-05-29 with total page 674 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for Handbook of Exchange Rates “This book is remarkable. I expect it to become the anchor reference for people working in the foreign exchange field.” —Richard K. Lyons, Dean and Professor of Finance, Haas School of Business, University of California Berkeley “It is quite easily the most wide ranging treaty of expertise on the forex market I have ever come across. I will be keeping a copy close to my fingertips.” —Jim O’Neill, Chairman, Goldman Sachs Asset Management How should we evaluate the forecasting power of models? What are appropriate loss functions for major market participants? Is the exchange rate the only means of adjustment? Handbook of Exchange Rates answers these questions and many more, equipping readers with the relevant concepts and policies for working in today’s international economic climate. Featuring contributions written by leading specialists from the global financial arena, this handbook provides a collection of original ideas on foreign exchange (FX) rates in four succinct sections: • Overview introduces the history of the FX market and exchange rate regimes, discussing key instruments in the trading environment as well as macro and micro approaches to FX determination. • Exchange Rate Models and Methods focuses on forecasting exchange rates, featuring methodological contributions on the statistical methods for evaluating forecast performance, parity relationships, fair value models, and flow–based models. • FX Markets and Products outlines active currency management, currency hedging, hedge accounting; high frequency and algorithmic trading in FX; and FX strategy-based products. • FX Markets and Policy explores the current policies in place in global markets and presents a framework for analyzing financial crises. Throughout the book, topics are explored in-depth alongside their founding principles. Each chapter uses real-world examples from the financial industry and concludes with a summary that outlines key points and concepts. Handbook of Exchange Rates is an essential reference for fund managers and investors as well as practitioners and researchers working in finance, banking, business, and econometrics. The book also serves as a valuable supplement for courses on economics, business, and international finance at the upper-undergraduate and graduate levels.
