Two Sides Of The Same Coin Rebalancing And Inclusive Growth In China

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Two Sides of the Same Coin? Rebalancing and Inclusive Growth in China

Author : Mr.Il Houng Lee
Publisher : International Monetary Fund
ISBN 13 : 1484386574
Total Pages : 24 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Two Sides of the Same Coin? Rebalancing and Inclusive Growth in China by : Mr.Il Houng Lee

Download or read book Two Sides of the Same Coin? Rebalancing and Inclusive Growth in China written by Mr.Il Houng Lee and published by International Monetary Fund. This book was released on 2013-08-27 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses the Shapley Value decomposition technique to assess the factors behind the rise of inequality in China. It finds that, in many ways, inequality may have been an inevitable by-product of China’s investment and export-led growth model. Between Chinese households, we find that the most important factors explaining income inequality are location, education, access to health insurance, and labor market variables, including the sector of employment and enterprise size. Across China’s provinces, divergences in per capita incomes are driven by the relative level of capital-intensity, public spending, financial access, privatization, and urbanization. In addition, excess liquidity may have exacerbated inequality in the last decade, by driving up property prices and the wealth gap. Based on these results, policies that could help broaden the benefits of growth in China include maintaining prudent monetary and credit policies, a more progressive fiscal tax and expenditure system, higher public spending on health and education, deregulation and reforms to increase competition, measures to raise labor incomes and assist vulnerable workers, and better access to finance for both households and SMEs, including in rural areas. Not surprisingly, given the argued nexus between China’s growth strategy and inequality, many of these reforms are the same ones that would help rebalance its economy toward consumption and household incomes.

Two Sides of the Same Coin? Rebalancing and Inclusive Growth in China

Author : Il Lee
Publisher :
ISBN 13 :
Total Pages : 25 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Two Sides of the Same Coin? Rebalancing and Inclusive Growth in China by : Il Lee

Download or read book Two Sides of the Same Coin? Rebalancing and Inclusive Growth in China written by Il Lee and published by . This book was released on 2013 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses the Shapley Value decomposition technique to assess the factors behind the rise of inequality in China. It finds that, in many ways, inequality may have been an inevitable by-product of China's investment and export-led growth model. Between Chinese households, we find that the most important factors explaining income inequality are location, education, access to health insurance, and labor market variables, including the sector of employment and enterprise size. Across China's provinces, divergences in per capita incomes are driven by the relative level of capital-intensity, public spending, financial access, privatization, and urbanization. In addition, excess liquidity may have exacerbated inequality in the last decade, by driving up property prices and the wealth gap. Based on these results,policies that could help broaden the benefits of growth in China include maintaining prudent monetary and credit policies, a more progressive fiscal tax and expenditure system, higher public spending on health and education, deregulation and reforms to increase competition, measures to raise labor incomes and assist vulnerable workers, and better access to finance for both households and SMEs, including in rural areas. Not surprisingly, given the argued nexus between China's growth strategy and inequality, many of these reforms are the same ones that would help rebalance its economy toward consumption and household incomes.

Rebalancing and Sustaining Growth in China

Author : Huw McKay
Publisher : ANU E Press
ISBN 13 : 1921862807
Total Pages : 386 pages
Book Rating : 4.9/5 (218 download)

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Book Synopsis Rebalancing and Sustaining Growth in China by : Huw McKay

Download or read book Rebalancing and Sustaining Growth in China written by Huw McKay and published by ANU E Press. This book was released on 2012-07-01 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: The idea that China’s economy needs to rebalance is no longer controversial inside or outside the country. Whether it be the increasing recognition of income inequality at home; the still large external surplus; the focus on consumption and industrial upgrading in the policy discourse; the economic, political and social tensions associated with the major decline in housing affordability; the profound conflict between industrialisation, urbanisation and the biosphere; the profitability gulf between the top SOEs and private firms; or the uni-directional pressures pushing on the real exchange rate; the evidence in favour of a highly imbalanced structure is omnipresent. Rebalancing and Sustaining Growth in China brings together some of the world’s leading observers of the Chinese economy to debate the multifarious questions pertaining to rebalancing. How are we to make sense of the many, often contradictory, proposals that seek the same ultimate objective of a more sustainable growth model? What mix of policies will be most effective in addressing the required structural change without sacrificing prosperity along the way? Where should we look for root causes, and how can we avoid getting distracted by symptoms? How do China’s unique internal migration dynamics – and the Lewis turning point – constrain its options? What role will and should financial, fiscal and welfare reform play in the process? Where do water and energy security fit in? Can China innovate before it gets old – or can China get smart before it gets rich? And are intergenerational issues being taken into account?

Research Bulletin, June 2014

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
ISBN 13 : 1498366821
Total Pages : 14 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Research Bulletin, June 2014 by : International Monetary Fund. Research Dept.

Download or read book Research Bulletin, June 2014 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2014-06-12 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Articles in the June 2014 issue of the IMF Research Bulletin look at “The Rise and Fall of Current Account Deficits in the Euro Area Periphery and the Baltics” (Joong Shik Kang and Jay C. Shambaugh) and “The Two Sides of the Same Coin?: Rebalancing and Inclusive Growth in China” (Il Houng Lee, Murtaza Syed, and Xin Wang). The Q&A looks at “Seven Questions on the Monetary Transmission Mechanism in Low-Income Countries” (Andrew Berg, Luisa Charry, Rafael A. Portillo, and Jan Vleck). This issue of the Research Bulletin includes updated listings of IMF Working Papers, Staff Discussion Notes, and Recommended Readings from the IMF Bookstore. Readers can also find information on free access to a featured article from “IMF Economic Review.”

A Political Economy of the United States, China, and India

Author : Shalendra D. Sharma
Publisher : Cambridge University Press
ISBN 13 : 1316879895
Total Pages : 236 pages
Book Rating : 4.3/5 (168 download)

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Book Synopsis A Political Economy of the United States, China, and India by : Shalendra D. Sharma

Download or read book A Political Economy of the United States, China, and India written by Shalendra D. Sharma and published by Cambridge University Press. This book was released on 2018-05-17 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: The precipitous rise in global and national economic inequality, which the inexorable force of globalization promised to address with affluence and abundance for all, has returned with a vengeance. The problem of worsening socioeconomic inequality and how best to ameliorate this pernicious resurgence occupies center stage of national and international politics. This study investigates the coexistence of high rates of economic growth and unparalleled prosperity (including a review of the decline in poverty levels in China and India and many other developing countries) with rises in income and wealth inequality in the United States, China, and India. This book examines the overall effectiveness of the measures taken by these three countries to address such anomalies, and what they should do to tackle the problem of widening inequality. This study breaks new ground by providing an original comparative analysis of the challenges facing the world's three major economies.

Inequality and Fiscal Policy

Author : Mr.Benedict J. Clements
Publisher : International Monetary Fund
ISBN 13 : 1513567756
Total Pages : 450 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Inequality and Fiscal Policy by : Mr.Benedict J. Clements

Download or read book Inequality and Fiscal Policy written by Mr.Benedict J. Clements and published by International Monetary Fund. This book was released on 2015-09-21 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sizeable increase in income inequality experienced in advanced economies and many parts of the world since the 1990s and the severe consequences of the global economic and financial crisis have brought distributional issues to the top of the policy agenda. The challenge for many governments is to address concerns over rising inequality while simultaneously promoting economic efficiency and more robust economic growth. The book delves into this discussion by analyzing fiscal policy and its link with inequality. Fiscal policy is the government’s most powerful tool for addressing inequality. It affects households ‘consumption directly (through taxes and transfers) and indirectly (via incentives for work and production and the provision of public goods and individual services such as education and health). An important message of the book is that growth and equity are not necessarily at odds; with the appropriate mix of policy instruments and careful policy design, countries can in many cases achieve better distributional outcomes and improve economic efficiency. Country studies (on the Netherlands, China, India, Republic of Congo, and Brazil) demonstrate the diversity of challenges across countries and their differing capacity to use fiscal policy for redistribution. The analysis presented in the book builds on and extends work done at the IMF, and also includes contributions from leading academics.

Growing (Un)equal

Author : Mr.Serhan Cevik
Publisher : International Monetary Fund
ISBN 13 : 1475519974
Total Pages : 26 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Growing (Un)equal by : Mr.Serhan Cevik

Download or read book Growing (Un)equal written by Mr.Serhan Cevik and published by International Monetary Fund. This book was released on 2015-03-25 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the empirical characteristics of income inequality in China and a panel of BRIC+ countries over the period 1980–2013, with a focus on the redistributive contribution of fiscal policy. Using instrumental variable techniques to deal with potential endogeneity, we find evidence supporting the hypothesis of the existence of a Kuznets curve—an inverted Ushaped relationship between income inequality and economic development—in China and the panel of BRIC+ countries. In the case of China, the empirical results indicate that government spending and taxation have opposing effects on income inequality. While government spending appears to have a worsening impact, taxation improves income distribution. Even though the redistributive effect of fiscal policy in China appears to be stronger than what we identify in the BRIC+ panel, it is not large enough to compensate for the adverse impact of other influential factors.

People's Republic of China

Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
ISBN 13 : 1475566921
Total Pages : 93 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis People's Republic of China by : International Monetary Fund. Asia and Pacific Dept

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 2013-07-17 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: This staff report on People’s Republic of China 2013 Article IV Consultation highlights macroeconomic developments and outlook. China has maintained robust growth since the global crisis, but the heavy reliance on credit and investment to sustain activity is raising vulnerabilities. The consequence is a steady build-up of leverage that is eroding the strength of the financial sector, local government, and corporate balance sheets. This is most apparent in the continued rapid expansion in total social financing. The development of nontraditional finance marks a shift to more market-based intermediation, and the migration of activity to less-regulated parts of the system poses risks to financial stability.

IMF Research Bulletin, December 2013

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
ISBN 13 : 1484378431
Total Pages : 14 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis IMF Research Bulletin, December 2013 by : International Monetary Fund. Research Dept.

Download or read book IMF Research Bulletin, December 2013 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2013-12-17 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the December 2013 IMF Research Bulletin, the Research Summaries look at “Reforming Dual Labor Markets in Advanced Economies” (Giovanni Ganelli) and “Rating Through-The-Cycle: What Does the Concept Imply for Rating Stability Accuracy” (John Kiff, Michael Kisser, and Liliana Schumacher). The Q&A discusses Seven Questions on Financial Crises (Stijn Claessens, M. Ayhan Kose, Luc Laeven, and Fabián Valencia). This issue also includes a listing of recent IMF Working Papers and IMF Staff Discussion Notes, as well as Recommended Readings from the IMF Bookstore. The top-viewed articles from recent of issues of “IMF Economic Review” are featured.

China's Economy in Transition

Author : Mr.Anoop Singh
Publisher : International Monetary Fund
ISBN 13 : 1484303938
Total Pages : 292 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis China's Economy in Transition by : Mr.Anoop Singh

Download or read book China's Economy in Transition written by Mr.Anoop Singh and published by International Monetary Fund. This book was released on 2013-11-07 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's current account surplus has declined to around one-quarter the peak reached before the global financial crisis. While this is a major reduction in China's external imbalance, it has not been accompanied by a decisive shift toward consumption-based growth. Instead, the compression in its external surplus has been accomplished through increasing fixed investment so that it is now an even higher share of China's national economy. This increasing reliance on fixed investment as the main driver of China's growth raises questions about the durability of the compression in the external surplus and the sustainability of the current growth model that has had unprecedented success in lifting about 500 million people out of poverty over the last three decades. This volume examines various aspects of the rebalancing process underway in China, highlighting policy lessons for achieving stable, sustainable, and inclusive growth.

People’s Republic of China: Selected Issues

Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 83 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis People’s Republic of China: Selected Issues by : International Monetary

Download or read book People’s Republic of China: Selected Issues written by International Monetary and published by International Monetary Fund. This book was released on 2022-02-04 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: Selected Issues

Avoiding the Fall

Author : Michael Pettis
Publisher : Brookings Institution Press
ISBN 13 : 0870034081
Total Pages : 172 pages
Book Rating : 4.8/5 (7 download)

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Book Synopsis Avoiding the Fall by : Michael Pettis

Download or read book Avoiding the Fall written by Michael Pettis and published by Brookings Institution Press. This book was released on 2013-09-24 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: The days of rapid economic growth in China are over. Mounting debt and rising internal distortions mean that rebalancing is inevitable. Beijing has no choice but to take significant steps to restructure its economy. The only question is how to proceed. Michael Pettis debunks the lingering bullish expectations for China's economic rise and details Beijing's options. The urgent task of shifting toward greater domestic consumption will come with political costs, but Beijing must increase household income and reduce its reliance on investment to avoid a fall.

The Philosophy, Politics and Economics of Finance in the 21st Century

Author : Patrick O'Sullivan
Publisher : Routledge
ISBN 13 : 1135122520
Total Pages : 509 pages
Book Rating : 4.1/5 (351 download)

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Book Synopsis The Philosophy, Politics and Economics of Finance in the 21st Century by : Patrick O'Sullivan

Download or read book The Philosophy, Politics and Economics of Finance in the 21st Century written by Patrick O'Sullivan and published by Routledge. This book was released on 2015-04-10 with total page 509 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 2008, the financial sector has been the subject of extensive criticism. Much of this criticism has focused on the morality of the actors involved in the crisis and its extended aftermath. This book analyses the key moral and political philosophical issues of the crisis and relates them to the political economy of finance. It also examines to what extent the financial sector can or should be reformed. This book is unified by the view that the financial sector had been a self-serving and self-regulating elite consumed by greed, speculation and even lawlessness, with little sense of responsibility to the wider society or common good. In light of critical analysis by authors from a variety of backgrounds and persuasions, suggestions for reform and improvement are proposed, in some cases radical reform. By placing the world of finance under a microscope, this book analyses the assumptions that have led from hubris to disgrace as it provides suggestions for an improved society. Rooted in philosophical reflection, this book invites a critical reassessment of finance and its societal role in the 21st century. This book will be of interest to academics, politicians, central bankers and financial regulators who wish to improve the morality of finance.

Inequality in China – Trends, Drivers and Policy Remedies

Author : Ms.Sonali Jain-Chandra
Publisher : International Monetary Fund
ISBN 13 : 1484357531
Total Pages : 31 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Inequality in China – Trends, Drivers and Policy Remedies by : Ms.Sonali Jain-Chandra

Download or read book Inequality in China – Trends, Drivers and Policy Remedies written by Ms.Sonali Jain-Chandra and published by International Monetary Fund. This book was released on 2018-06-05 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: China has experienced rapid economic growth over the past two decades and is on the brink of eradicating poverty. However, income inequality increased sharply from the early 1980s and rendered China among the most unequal countries in the world. This trend has started to reverse as China has experienced a modest decline in inequality since 2008. This paper identifies various drivers behind these trends – including structural changes such as urbanization and aging and, more recently, policy initiatives to combat it. It finds that policies will need to play an important role in curbing inequality in the future, as projected structural trends will put further strain on equity considerations. In particular, fiscal policy reforms have the potential to enhance inclusiveness and equity, both on the tax and expenditure side.

Reconstructing China’s Participation in the Global Order

Author : SHAO Binhong
Publisher : BRILL
ISBN 13 : 9004355715
Total Pages : 275 pages
Book Rating : 4.0/5 (43 download)

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Book Synopsis Reconstructing China’s Participation in the Global Order by : SHAO Binhong

Download or read book Reconstructing China’s Participation in the Global Order written by SHAO Binhong and published by BRILL. This book was released on 2018-07-17 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chinese scholars offer perspectives on global governance, China's participation in the global order and China's new foreign economic relations

Shifting Priorities in Russia's Foreign and Security Policy

Author : Rémi Piet
Publisher : Routledge
ISBN 13 : 1317055381
Total Pages : 233 pages
Book Rating : 4.3/5 (17 download)

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Book Synopsis Shifting Priorities in Russia's Foreign and Security Policy by : Rémi Piet

Download or read book Shifting Priorities in Russia's Foreign and Security Policy written by Rémi Piet and published by Routledge. This book was released on 2016-03-09 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: Given the resurgence of Russian economic capabilities and of Russia's role as a regional, even global, political actor, much of the literature written more than 4-5 years ago is already dated. The editor and contributors to this timely volume draw upon a broad range of analysts who deal with various aspects of Russian relations with its neighbours to the West and to the East. Implications for Russian foreign and security policy are key to understanding Russia's position in the 21st Century. Readers in Russian foreign and security policy; European, Eurasian, and Asian security; and contemporary international politics/security will find this volume invaluable.

Finance and Development, December 2013

Author : International Monetary Fund. External Relations Dept.
Publisher : International Monetary Fund
ISBN 13 : 1484316916
Total Pages : 60 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Finance and Development, December 2013 by : International Monetary Fund. External Relations Dept.

Download or read book Finance and Development, December 2013 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 2013-11-25 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.