A Bridge on Economic Issues between China and the World
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The Real Driver of China’s Growth: Internal Economic Reform
Trevor Tombe, Xiaodong Zhu, Apr 03, 2019Many people have attributed China’ s growth since 2001 to its accession to WTO and the resulting rapid export expansion. We provide quantitative evidence showing that internal economic reform, not export expansion, was the real driver of China’ s growth in the period after 2001. We also show that there is still large potential growth from further internal reform in China.
A Tale of Tier 3 Cities
Kenneth Rogoff, Yuanchen Yang, Mar 29, 2023This paper provides new estimates of the housing stock, construction rates, and price developments by city tier in China.
E-Commerce Integration and Economic Development: Evidence from China
Victor Couture, Benjamin Faber, Yizhen Gu, Lizhi Liu, Apr 11, 2018In our recent work (Couture et al., 2018), we combine an experiment that we implement across Chinese villages with a new collection of survey and administrative microdata to provide evidence on the potential of e-commerce integration to foster economic development in the countryside. We also explore the underlying channels and the distribution of the gains from e-commerce across households and villages.
Serial Entrepreneurship in China
Loren Brandt, Ruochen Dai, Gueorgui Kambourov, Kjetil Storesletten, Xiaobo Zhang, Jul 06, 2022New firms have been an important engine of growth in the Chinese economy (Brandt, Van Biesebroeck, and Zhang 2012). Drawing on data on the universe of all firms in China, we study entrepreneurship and the creation of new firms in China through the lens of entrepreneurs who operate a series of firms over their lifetime, i.e., serial entrepreneurs (SE).
Shadow Banking: China’s Dual-Track Interest Rate Liberalization
Hao Wang, Honglin Wang, Lisheng Wang, Hao Zhou, Jul 26, 2017Professors Hao Wang and Hao Zhou, both of Tsinghua University, Honglin Wang formerly of Hong Kong Institute for Monetary Research (HKIMR) and Lisheng Wang of Chinese University of Hong Kong, argue that the shadow banking explosion in China may constitute a dual-track reform mechanism to liberalize the country's rigid interest rate policy.
