The Study of the Chinese Economy

The purpose of this chapter is to provide an overview of the issues, approaches, and problems of American economists who have studied China’s economy in recent decades, beginning with research done before the 1980s. Data access problems defined the field at that time. New research opportunities that emerged in conjunction with reform in China and improved U.S.-China relations are discussed next. The impact these changes had on the field are then seen from a review of research done since 1980. This review underscores the importance of data in allowing a variety of methods and issues, but it also suggests that data problems are far from over. The chapter concludes with a discussion of the study of the Chinese economy as it relates to Chinese area studies and to the economics discipline generally

Moderate inflation

Inflation persists at moderate rates (15-30 percent) in all the countries that successfully reduced triple-digit inflation in the 1980s. Several other countries--for example, Colombia--have experienced moderate inflation for prolonged periods. The authors introduce types of theories of persistent inflation. Theories emphasizing seigniorage as a source of government finance and those emphasizing the costs of ending inflation were detailed. They examine thesources and persistence of episodes of moderate inflation. Most episodes were triggered by commodity price shocks and were brief. Very few ended in higher inflation. This report presents case studies of eight countries, including three that now suffer from moderate inflation and four that successfully moved down to single-digit inflation rates. The authors analyze the roles of seigniorage, indexation and disindexation, the exchange rate commitment, and monetary and fiscal policy. The evidence suggests that seigniorage plays, at most, a modest role in the persistence of moderate inflation and that such inflation can be reduced only at a substantial short-term cost to growth.Economic Theory&Research,Environmental Economics&Policies,Inflation,Banks&Banking Reform,Economic Conditions and Volatility

The Impacts of China\u27s Rise on the Pacific and the World

This book provides the perspectives of a group of noted China experts on how China’s economic expansion and internal reforms are impacting its neighbors in the Pacific region as well as the United States and the rest of the world.https://research.upjohn.org/up_press/1267/thumbnail.jp