Chinese macroeconomic management through the crisis and beyond

Adam McKissack and Jessica Xu
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Adam McKissack: Treasury, Government of Australia
Jessica Xu: Treasury, Government of Australia

No 2011-01, Treasury Working Papers from The Treasury, Australian Government

Abstract: As in all the other major economies, China’s macroeconomic policy framework was put to the test during the global financial crisis. China applied one of the world’s largest stimulus packages. The package provided a very rapid boost to activity in the Chinese economy, with empirical evidence suggesting the package added around 2-3 per cent to the level of GDP in both 2009 and 2010. The stimulus package was clearly a success for China, but there are challenges in unwinding the effects of the stimulus and addressing structural imbalances. Pressures to rebalance Chinese growth and integrate China further into global capital markets will necessitate changes in China’s macroeconomic policy framework.

Keywords: economic stimulus; global financial crisis (search for similar items in EconPapers)
JEL-codes: E00 E30 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2011-06, Revised 2011-06
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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