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Real model of transitional growth and competitiveness in China /
We present a stylized real model of the Chinese economy with the objective of explaining two features: (1) domestic production is highly competitive in the sense that an accumulation of capital that raises the marginal product of labor elicits increases in employment and output rather than only in w...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Autores Corporativos: | , |
| Otros Autores: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.?] :
International Monetary Fund,
2008.
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| Colección: | IMF working paper ;
WP/08/99. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | We present a stylized real model of the Chinese economy with the objective of explaining two features: (1) domestic production is highly competitive in the sense that an accumulation of capital that raises the marginal product of labor elicits increases in employment and output rather than only in wages; and (2) even though the domestic saving rate is high, foreign direct investment is also substantial. We explain these features in terms of a conventional neoclassical growth model-with no monetary or nominal exchange rate policy-by including two aspects of the economy explicitly in the model. |
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| Descripción Física: | 1 online resource (34 pages) : illustrations |
| Bibliografía: | Includes bibliographical references (pages 28-30). |
| ISBN: | 1451914148 9781451914146 |
| ISSN: | 2227-8885 ; |