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The Chinese economy today is at a critical crossroads. Sustained rapid growth has given rise to structural strains as well as sectoral imbalances. It has also generated socio-economic problems such as rising income inequality, rural discontent and environmental degradation. All of these must be addressed before China can enter the next lap of high growth. Containing 12 chapters, this volume is a collaborative effort of leading economists from Beijing, Singapore and elsewhere in the region in analyzing China's economic growth prospects and their concomitant problems and constraints.
Finance -- China. --- Business & Economics --- Economic History --- CN / China - Chine --- 331.31 --- 338.8 --- 331.30 --- Economisch beleid. --- Economische groei. --- Economische toestand. --- China --- Economic conditions --- Economic policy --- Economisch beleid --- Economische groei --- Economische toestand
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With China's share in global trade increasing rapidly, some argued in 2002-03 that China was exporting deflation to other countries as it was dumping cheap goods in mature markets. Later, others argued that China was sucking in commodities and thus causing sharp increases in global prices. The theoretical literature so far has provided mixed conclusions regarding the strength of international transmission of inflation. This paper uses a number of econometric techniques to assess the extent of the link between inflation rates between China and the United States and Japan. It finds only limited empirical evidence at the aggregate level for consumer price inflation in China leading to price changes in the United States and Japan. However, it finds some evidence that inflation in the United States has an impact on Chinese inflation, consistent with the literature that argues that inflation is propagated from the reserve currency economy to other economies. In either case, the impact is short lived. At a more disaggregate level, there appears to be stronger sector-specific linkages between prices in China and in the United States and Japan, both for food and at the household level for manufactured goods.
Electronic books. -- local. --- Exports -- China. --- Inflation (Finance) -- China. --- Inflation (Finance) -- United States. --- Prices -- China. --- Finance --- Business & Economics --- Money --- Inflation (Finance) --- Exports --- Prices --- Exports and Imports --- Inflation --- Macroeconomics --- Price Level --- Deflation --- Open Economy Macroeconomics --- Agriculture: Aggregate Supply and Demand Analysis --- Trade: General --- International economics --- Import prices --- Food prices --- Consumer prices --- International trade --- Imports --- United States
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This volume provides a history of the domination of the Big Four in the Chinese accounting industry, explaining why China was unable to keep the market for its own accounting firms. The book details how easy access to U.S. capital markets led to major accounting scandals, and a clash between U.S. and Chinese regulators.
Accounting -- China. --- Auditing -- China. --- Finance -- China. --- Accounting firms --- Accounting --- Commerce --- Business & Economics --- Auditing --- Finance --- E-books --- PricewaterhouseCoopers LLP. --- Deloitte Touche Tohmatsu (Firm) --- Ernst & Young. --- KPMG Peat Marwick. --- Klynveld Peat Marwick Goerdeler. --- Peat Marwick --- Peat Marwick (U.S.A.) --- KPMG Peat Marwick (U.S.) --- KPMG --- KPMG LLP --- KPMG International. --- KPMG ピートマーウィック --- KPMG LLP (U.S.) --- Ernst and Young --- Ernst & Young LLP --- Ernst & Young International --- EYI (Firm) --- E&Y (Firm) --- EY (Firm) --- Ernst & Whinney --- Arthur Young & Company --- PricewaterhouseCoopers (Organization) --- PwC --- Price Waterhouse LLP --- Coopers & Lybrand
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In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
China -- Politics and government -- 20th century. --- China -- Social conditions -- 20th century. --- International finance -- China. --- International Monetary Fund. --- Banks and Banking --- Exports and Imports --- Foreign Exchange --- Macroeconomics --- Business and Financial --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Aggregate Factor Income Distribution --- Interest Rates: Determination, Term Structure, and Effects --- Current Account Adjustment --- Short-term Capital Movements --- Currency --- Foreign exchange --- Banking --- International economics --- Finance --- Exchange rates --- Income --- Real interest rates --- Current account surpluses --- Banks and banking --- Interest rates --- Balance of payments --- China, People's Republic of
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Finance --- Monetary policy --- Banks and banking --- China --- Economic conditions --- Foreign economic relations. --- Banks and bankingChina --- ChinaEconomic conditions --- CN / China - Chine --- 331.30 --- 37 --- Economische toestand. --- Geografische economie. Monografieën van streken en landen. --- Economische toestand --- Geografische economie. Monografieën van streken en landen --- Finance - China --- Monetary policy - China --- Banks and banking - China --- China - Economic conditions - 2000 --- -Finance --- Économie politique --- Compétitivité (économie politique) --- Développement économique --- Finances --- Chine --- Conditions économiques --- 2000-.... --- Politique économique --- 1992-.... --- Économie politique --- Compétitivité (économie politique) --- Développement économique --- Conditions économiques --- Politique économique
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The People's Bank of China (PBC) has made great strides in modernizing its monetary policy frameworks but their effectiveness will diminish as the sophistication of the economy increases. Empirical evidence supports maintaining a reference to money in China's monetary strategy and enhancing the role of interest rates in its conduct. We advocate adoption of an eclectic strategy involving the monitoring of several indicators, and of a short-term interest rate as the operational target. The PBC should be granted discretion to change its policy rate, and there are no technical obstacles for such a move to occur in the near future.
Demand for money -- China. --- Finance -- China. --- Monetary policy -- China -- Econometric models. --- Monetary policy -- China. --- Banks and Banking --- Finance: General --- Inflation --- Money and Monetary Policy --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- General Financial Markets: General (includes Measurement and Data) --- Price Level --- Deflation --- Banking --- Monetary economics --- Finance --- Macroeconomics --- Money markets --- Monetary base --- Bank credit --- Banks and banking --- Money market --- Money supply --- Prices --- Credit --- China, People's Republic of --- Monetary policy. --- Money. --- Multiplier (Economics) --- Zhongguo ren min yin hang.
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China has been moving to a more market oriented financial system, which has implications for the monetary policy environment. The paper investigates the stability of the money demand function (MDF) in light of progress in financial sector reforms that, for example, have resulted in significant financial innovation (so-called shadow banking) and more liberalized interest rates. The analysis of international experience suggests that rapid development of the financial system often leads to structural shifts in the MDF. For example, financial innovation and liberalization alter the sensitivity of money balances to income and the interest rate. For China, we find that the stable long-run relationship between money demand, output, and interest rates that existed between 2002 and 2008 disappears after 2008. This coincides with the period of rapid financial innovation, especially the growth in off-balance sheet and nonbank financial intermediation. The results suggest that usefulness of M2 as an intermediate monetary target has declined with financial innovation and reform. A result that underscores the importance of moving toward increased reliance on more price-based targets such as interest rates.
Finance -- China. --- Interest rates -- China. --- Monetary policy -- China. --- Finance --- Business & Economics --- Money --- Banks and Banking --- Macroeconomics --- Money and Monetary Policy --- Real Estate --- Demand for Money --- Financial Markets and the Macroeconomy --- Monetary Policy --- International Financial Markets --- Personal Income, Wealth, and Their Distributions --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Housing Supply and Markets --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Monetary economics --- Banking --- Property & real estate --- Demand for money --- Personal income --- Velocity of money --- Housing prices --- National accounts --- Prices --- Monetary base --- Income --- Banks and banking --- Housing --- Money supply --- China, People's Republic of
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Assessing default risks for Chinese firms is hard. Standard measures of risk using market indicators may be unreliable because of implicit guarantees, the large role played by less-informed investors, and other market imperfections. We test this assertion by estimating stand-alone 1-year default probabilities for non-financial firms in China using an equity-based structural model and debt costs. We find evidence that the equity measure of default risk is sensitive to a firm’s balance sheet health, profitability, and ownership; specifically, default probabilities are higher for weaker, less profitable, and state-owned firms. In contrast, measures based on the cost of debt seem largely detached from fundamentals and instead determined by implicit guarantees. We conclude that for individual firms, equity-based measures, while far from perfect, provide a better measure of stand-alone default risks than borrowing costs.
China -- Economic conditions. --- Corporations -- Valuation -- China. --- Finance -- China. --- Local Commerce --- Commerce --- Business & Economics --- Banks and Banking --- Exports and Imports --- Financial Risk Management --- Investments: Stocks --- Money and Monetary Policy --- Contingent Pricing --- Futures Pricing --- option pricing --- Financial Forecasting and Simulation --- Bankruptcy --- Liquidation --- International Financial Markets --- International Lending and Debt Problems --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Financing Policy --- Financial Risk and Risk Management --- Capital and Ownership Structure --- Value of Firms --- Goodwill --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Finance --- International economics --- Monetary economics --- Financial services law & regulation --- Investment & securities --- Asset valuation --- Debt default --- Credit ratings --- Credit risk --- Stocks --- Asset and liability management --- External debt --- Money --- Financial regulation and supervision --- Financial institutions --- Asset-liability management --- Debts, External --- Financial risk management --- China, People's Republic of --- Option pricing
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Finance --- 332.04150951 --- 333.600 --- CN / China - Chine --- Financiële markten. Kapitaalmarkten (algemeenheden) --- World Trade Organization --- Biśva Bāṇijya Saṃsthā --- Dėlkhiĭn Khudaldaany Baĭguullaga --- DTÖ --- Dünya Ticaret Örgütü --- Munaẓẓamat al-Tijārah al-ʻĀlamīyah --- O.M.C. --- OMC --- ʻOngkān Kānkhā Lōk --- Organisation mondiale du commerce --- Organização Mundial do Comércio --- Organización Mundial de Comercio --- Organización Mundial del Comercio --- Organizația Mondială de Comerț --- Organizzazione mondiale del commercio --- Organizzazione mondiale per il commercio --- Qaṅgkār Bāṇijjakamm Bibhab Lok --- Sāzmān-i Tijārat-i Jahānī --- Shi jie mao yi zu zhi --- SOT --- Světová obchodní organizace --- Svitova orhanizat︠s︡ii︠a︡ torhivli --- Światowa Organizacja Handlu --- Tổ chức thương mại thế giới --- Viśva Vyapāra Saṅgaṭhana --- Vsemirnai︠a︡ torgovai︠a︡ organizat︠s︡ii︠a︡ --- VTO --- W.T.O. --- Welthandelsorganisation --- World Trade Organisation --- WTO --- منظمة التجارة العالمية --- 世界貿易組織 --- 世界贸易组织 --- General Agreement on Tariffs and Trade (Organization) --- Capital market - China. --- Finance - China. --- Capital market
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