Some International Policy Issues for China
K. C. Fung (),
Nathalie Aminian and
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K. C. Fung: University of California, Santa Cruz, CA, USA
Nathalie Aminian: University of Rouen, 1 Rue Thomas Becket, 76821 Mont-Saint-Aignan, France
Alicia Garcia-Herrero: Bruegel, Rue de la Charité 33-1210 Brussels, Belgium4Natixis, Global Market Research Corporate & Investment Banking, Asia Pacific Level 72, International Commerce Centre 1 Austin Road West, Kowloon, Hong Kong
Authors registered in the RePEc Author Service: Alicia Garcia Herrero ()
China Economic Policy Review (CEPR), 2015, vol. 04, issue 01, 1-10
In this paper we provide a simple model of an emerging market like China. We attempt to capture two characteristics of an emerging market: The simultaneous presence of market failures and government failures. In this model, we study the national welfare properties of four types of “governance” or “institutions”: A Benevolent Dictator, Extreme Economic Liberalism, Extreme Economic Nationalism and Factional Fighting with groups pressuring the government. We also discuss a case of the Realistic Dictator, who may switch from adopting liberal policies to nationalistic policies as the domestic market gets larger.
Keywords: International trade; China; political economy (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:wsi:ceprxx:v:04:y:2015:i:01:n:s1793969015500016
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