全球智库信息集成服务系统(G2TT): Macroeconomic Effects of China's Financial Policies

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w25222
来源ID	Working Paper 25222
	Macroeconomic Effects of China's Financial Policies
	Kaiji Chen; Tao Zha
发表日期	2018-11-05
出版年	2018
语种	英语
摘要	The Chinese economy has undergone three major phases: the 1978-1997 period marked as the SOE-led economy, the 1998-2015 phase as the investment-driven economy, and the new normal economy since 2016. All three economies have been shaped by the government's financial policies, defined as a set of credit policy, monetary policy, and regulatory policy. We analyze the macroeconomic effects of these financial policies throughout the three phases and provide the stylized facts to substantiate our analysis. The stylized facts differ qualitatively across different phases or economies. We argue that the impacts of China’s financial policies work through transmission channels different from those in developed economies and that a regime switch from one economy to another was driven mainly by regime changes in financial policies.
主题	Macroeconomics ; Monetary Policy ; Financial Economics ; Financial Markets ; Financial Institutions ; Development and Growth
URL	https://www.nber.org/papers/w25222
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/582896
推荐引用方式 GB/T 7714	Kaiji Chen,Tao Zha. Macroeconomic Effects of China's Financial Policies. 2018.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
w25222.pdf（996KB）	智库出版物		限制开放	CC BY-NC-SA	浏览