Aggregate savings and external imbalances in China

Arbeitspapier

Over the last decade, the internal and external macroeconomic imbalances in China have risen to unprecedented levels. In 2008, China's national savings rate soared to over 53 percent of its GDP, whereas its current account surplus exceeded 9 percent of GDP. The current paper presents a unified framework for understanding the structural causes of these imbalances. I argue that the imbalances are attributable to a set of policies and institutions embedded in the economy. Moreover, the accession of China to the World Trade Organization has dramatically amplified the effects of these structural distortions. I document major trends in aggregate savings, investment, trade, and net foreign asset positions in China, and explore options for policy reforms aimed at rebalancing the Chinese economy.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: IZA Discussion Papers ; No. 6964

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Macroeconomics: Consumption; Saving; Wealth ; Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance ; Current Account Adjustment; Short-term Capital Movements
• Thema: aggregate savings ; current account ; income distribution ; structural distortions ; trade policies ; China ; Sparen ; Leistungsbilanz ; Zahlungsbilanzungleichgewicht ; Einkommensverteilung ; Außenwirtschaftspolitik ; China

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Yang, Dennis Tao
• Ereignis: Veröffentlichung
• (wer): Institute for the Study of Labor (IZA)
• (wo): Bonn
• (wann): 2012

Weitere Informationen

• Handle: http://hdl.handle.net/10419/67291
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ