Capital Controls and Economic Development in China

Hansjörg Herr

Chapter 7 in Financial Liberalization and Economic Performance in Emerging Countries, 2008, pp 142-172 from Palgrave Macmillan

Abstract: Abstract The People’s Republic of China is one of most successful developing countries in recent decades.1 However, it is not a showcase for policies recommended by mainstream neoclassical thinking and international institutions, especially the International Monetary Fund (IMF). China did not follow the policies of the so-called Washington Consensus.2 Showcases for such policies, from Argentina to Mongolia, did not perform very well. Often China is considered as a very special case not transferable to other countries. This is not true; other developing countries can learn from China.

Keywords: Foreign Direct Investment; Central Bank; International Monetary Fund; Current Account; Capital Flow (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1057/9780230227743_7

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