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Weathering the Asian Crisis: the role of China

Yang, Yongzheng; Tyers, Rod; Yang, Yongzheng; Tyers, Rod

Description

During the Asian crisis, China's healthy reserves and low debt made possible the avoidance of a 'country run'. Nonetheless, it did experience an apparently autonomous rise in private savings and a rise in capital outflow. This paper employs global general equilibrium analysis to examine the relative contributions of external and internal shocks in China during the crisis. The savings rise appears to have been dominant domestically and, by coincidence of timing, it was a significant contributor...[Show more]

dc.contributor.authorYang, Yongzheng
dc.contributor.authorTyers, Rod
dc.contributor.authorYang, Yongzheng
dc.contributor.authorTyers, Rod
dc.date.accessioned2002-01-31
dc.date.accessioned2004-05-19T07:59:29Z
dc.date.accessioned2011-01-05T08:36:34Z
dc.date.available2004-05-19T07:59:29Z
dc.date.available2011-01-05T08:36:34Z
dc.date.created2000
dc.identifier.issn0728-8409
dc.identifier.urihttp://hdl.handle.net/1885/40358
dc.description.abstractDuring the Asian crisis, China's healthy reserves and low debt made possible the avoidance of a 'country run'. Nonetheless, it did experience an apparently autonomous rise in private savings and a rise in capital outflow. This paper employs global general equilibrium analysis to examine the relative contributions of external and internal shocks in China during the crisis. The savings rise appears to have been dominant domestically and, by coincidence of timing, it was a significant contributor to the international effects of the crisis. The successful defence of fixed parity with the US dollar, however, has made the combined shocks more contractionary in China than would have been the case had it been possible to retain a flexible exchange rate regime.
dc.format.extent125640 bytes
dc.language.isoen_AU
dc.publisherCanberra, ACT: The Australian National University
dc.sourcePacific Economic Papers
dc.subjectChina
dc.subjectAsian crisis
dc.subjectprivate savings
dc.subjectcapital outflow
dc.subjectglobal general equilibrium analysis
dc.subjectshocks
dc.subjectexchange rate
dc.titleWeathering the Asian Crisis: the role of China
dc.typeWorking/Technical Paper
local.description.refereedno
local.identifier.citationvolume308
local.identifier.citationyear2000
local.identifier.eprintid185
local.rights.ispublishedyes
local.identifier.absfor140210 - International Economics and International Finance
local.identifier.ariespublicationMigratedxPub20481
local.type.statusPublished version
local.contributor.affiliationTyers, Rod, College of Business and Economics, ANU
local.contributor.affiliationYang, Yongzheng, College of Asia and the Pacific, ANU
local.bibliographicCitation.issueOctober 2000
local.bibliographicCitation.startpage1
local.bibliographicCitation.lastpage40
dc.date.updated2015-12-12T08:56:49Z
dcterms.accessRightsOpen Access
CollectionsANU Research Publications

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