Financial Reform and Macroeconomic Performance

David J. Pyle
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David J. Pyle: Faculty of Social Sciences

Chapter 6 in China’s Economy, 1997, pp 125-149 from Palgrave Macmillan

Abstract: Abstract Since the economic reform programme began in the late 1970s there is no doubt that China has experienced exceptionally rapid economic growth (see Table 6.1). Between 1978 and 1994 the average annual growth rate of real gross domestic product (GDP) averaged over 9 per cent.1 In 1992 and 1993 China’s real GDP grew by more than 13 per cent in each year. According to the World Bank (1995, p. 2), ‘China was the fastest growing economy in the world in 1993’. In fact, in 1992 and 1993 manufacturing output was growing at approximately 20 per cent per year.

Keywords: Interest Rate; Gross Domestic Product; Monetary Policy; Central Bank; Central Government (search for similar items in EconPapers)
Date: 1997
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DOI: 10.1007/978-1-349-25802-4_6

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