Models of the Chinese Economy

Product Description Models of the Chinese Economy is an authoritative and comprehensive book which will enable readers to gain a more thorough understanding of this important economy. The authors focus on economic modelling of the current Chinese economy for forecasting and policy simulation purposes. Dynamic computable general equilibrium, gravity, models of exchange rate determination and a VAR model are employed with which to provide both medium- and long-term forecasts of China's economic growth and structural change. All the models have been specially designed to capture the institutional features of the Chinese economy and the authors also emphasise the opening of the economy and relations with other countries. The impact on the Chinese economy of such factors as the flow of foreign direct investments, trade liberalisations, tariff cuts and other external shocks are addressed and analysed through model simulations.This book will be welcomed by international agencies interested in the economic development of China, China analysts, academics, and graduate students. Review '. . . the volume is impressive proof of the developments in modelling China's economy. . . the volume is especially recommended to economists who deal with China and are interested in the construction of models. Given the focus of most of the modelling attempts on the influence of external trade and investment, it is also recommended to researchers studying China's international economic relations.' -- Doris Fischer, China Information'This is a well-researched study. . . It is highly readable, and suitable both for business practitioners and for social scientists interested in the state's role in economic development.' About the Author Edited by P.J. Lloyd, Professor Emeritus and Xiao-guang Zhang, Department of Economics, University of Melbourne, Australia