Kiel Working Papers, Kiel Institute for World Economics
No 1278:
China ; Understanding a New Global Economic Player
Horst Siebert
Abstract: This paper analyzes China's economic performance in the
last 25 years and discusses its prospect for growth in the future. China
has enjoyed high annual GDP growth rates of about ten percent in the last
25 years. Exports and investment were the two driving forces of the growth
process. FDI plays an important role. However, property rights, a crucial
element in transforming a communist society, are far from being clearly
developed. Structural issues such as the state-owned firms and the
loss-making of the banking industry have to be solved. Monetary policy is
complicated by the accumulation of reserves. Major policy issues in the
future include the institutional deficit, especially with respect to the
rule of law and the lack of democracy.
Keywords: Growth process, FDI, developing countries, transformation, exchange rate policy, property rights, future scenarios; (follow links to similar papers)
JEL-Codes: E2,; E4,; F10,; F43,; K; (follow links to similar papers)
35 pages, June 2006
Before downloading any of the electronic versions below
you should read our statement on
copyright.
Download GhostScript
for viewing Postscript files and the
Acrobat Reader for viewing and printing pdf files.
Downloadable files:
kap1278.pdf 
Download Statistics
Report other problems with accessing this service to Sune Karlsson ()
or Helena Lundin ().
Programing by
Design Joakim Ekebom
