The People’s Republic of China’s Growth, Stability, and Use of International Reserves

Joshua Aizenman, Yothin Jinjarak and Nancy P. Marion

Finance Working Papers from East Asian Bureau of Economic Research

Abstract: In the run-up to the financial crisis, the world economy was characterized by large and growing current account imbalances. Since the onset of the crisis, the People’s Republic of China and the United States have rebalanced. As a share of gross domestic product, their current account imbalances are now less than half their pre-crisis levels. For the People’s Republic of China, the reduction in its current account surplus post-crisis suggests a structural change. Panel regressions for a sample of almost 100 economies over the thirty-year period, 1983–2013, confirm that the relationship between current account balances and economic variables such as performance, structure, wealth, and the exchange rate, changed in important ways after the financial crisis.

Keywords: current account imbalances; financial crisis; China; PRC (search for similar items in EconPapers)
JEL-codes: F32 O57 (search for similar items in EconPapers)
Date: 2014-01
New Economics Papers: this item is included in nep-opm and nep-tra
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.eaber.org/node/23966 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 301 [REDIRECT LOOP] Moved Permanently (http://www.eaber.org/node/23966 [301 Moved Permanently]--> https://www.eaber.org/node/23966 [301 Moved Permanently]--> https://www.eaber.org/node/23966 [301 Moved Permanently]--> https://www.eaber.org/node/23966 [301 Moved Permanently]--> https://www.eaber.org/node/23966 [301 Moved Permanently]--> https://www.eaber.org/node/23966 [301 Moved Permanently]--> https://www.eaber.org/node/23966 [301 Moved Permanently]--> https://www.eaber.org/node/23966)

Related works:
Working Paper: The People’s Republic of China’s Growth, Stability, and Use of International Reserves (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eab:financ:23966

Access Statistics for this paper

More papers in Finance Working Papers from East Asian Bureau of Economic Research Contact information at EDIRC.
Bibliographic data for series maintained by Shiro Armstrong ().