While reform of the Chinese public and external sectors has promoted growth, it has alsoled to increasing macroeconomic volatility. Such volatility has largely been due to Chinasde facto administrative and fiscal dece...While reform of the Chinese public and external sectors has promoted growth, it has alsoled to increasing macroeconomic volatility. Such volatility has largely been due to Chinasde facto administrative and fiscal decentralisation and its de jure attempts at reassertingcentral control through fiscal and commercial regulation. Section II will discuss somereasons for Chinas rapid economic growth and discuss the macro-level influences whichcaused output and inflation instability in the period 1979-1996. Section III will discuss theeffects of public sector reform on output and prices. Section IV will explore trade reformseffects on output and prices. The conclusion will discuss implications for stabilisation where stabilisation is taken to comprise economic policies aimed at reducing inflationwhile promoting long-term output growth.展开更多
文摘While reform of the Chinese public and external sectors has promoted growth, it has alsoled to increasing macroeconomic volatility. Such volatility has largely been due to Chinasde facto administrative and fiscal decentralisation and its de jure attempts at reassertingcentral control through fiscal and commercial regulation. Section II will discuss somereasons for Chinas rapid economic growth and discuss the macro-level influences whichcaused output and inflation instability in the period 1979-1996. Section III will discuss theeffects of public sector reform on output and prices. Section IV will explore trade reformseffects on output and prices. The conclusion will discuss implications for stabilisation where stabilisation is taken to comprise economic policies aimed at reducing inflationwhile promoting long-term output growth.
