Abstract
Since 1978, China's open-economy reform process has been the subject of
increasing academic interest. A pioneering medium-sized econometric
model is constructed using the SNA accounting framework and taking into
account the stylized facts of the country's reforms and her absorption
of foreign capital. In estimation, the ‘general to specific’ and
error-correction modelling techniques are adopted wherever appropriate. A
50% reduction in foreign capital utilized and a total absence of flows
from Hong Kong are simulated, yielding interesting insights into the
operation of the opening of the Chinese economy.
Original language | English |
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Pages (from-to) | 435-478 |
Number of pages | 44 |
Journal | Economic Modelling |
Volume | 14 |
Issue number | 3 |
DOIs | |
Publication status | Published - Jul 1997 |
Externally published | Yes |
User-Defined Keywords
- China's reform
- Error correction
- Foreign capital
- Open policy
- SNA