Important laws governing China's macro-economy

Gregory C Chow

Journal of Comparative Economics, 2016, vol. 44, issue 2, 289-294

Abstract: This paper presents economic laws that are valid for China's macro-economy from 1952 to 2013 in spite of the many institutional changes during this period. The laws include a consumption function based on the adaptive expectations hypothesis of Friedman (1957) or the rational expectations hypothesis of Hall (1978), an investment function derived from the accelerations principle and the roles of government expenditure and money supply. It extends the analyses of Chow (1985, 2010 and 2011) to cover longer periods and study additional issues.

Keywords: Consumption; Investment; China; Macro-economics; Government expenditure; Money supply (search for similar items in EconPapers)
JEL-codes: E1 P3 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jcecon:v:44:y:2016:i:2:p:289-294

DOI: 10.1016/j.jce.2015.10.011

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