Quantifying the impacts of China’s currency depreciation and capital control: a CGE analysis
Baomin Dong and
Applied Economics Letters, 2018, vol. 25, issue 14, 964-967
A dynamic global multi-regional computable general equilibrium (CGE) model is built to study the effects of Renminbi (RMB) depreciation and capital account liberalization. The simulation results suggest that although the depreciation of RMB can promote China’s trade surplus, it will nevertheless discourage domestic investment, consumption and lead to a decrease of real GDP.
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