Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/101286
Authors: 
Ito, Hiro
Volz, Ulrich
Year of Publication: 
2012
Series/Report no.: 
ADBI Working Paper Series 393
Abstract: 
This paper examines the impact of sectorial reforms on current account imbalances, with a special focus on the People's Republic of China (PRC). In particular, we investigate to what extent reforms pertaining to the financial sector, social protection, and healthcare may contribute to a rebalancing of the PRC's persistent current account imbalances. Our forecasting results suggest that reforming the financial sector would be a significant contributor to the country's rebalancing with an effect much larger than that of capital account liberalization. Strengthened provisions of social protection and publicly-funded healthcare are also found to contribute to a rebalancing of the PRC economy.
Subjects: 
global imbalances
prc
current account balance
budget deficit
financial liberalization
social sector reform
JEL: 
F32
F41
Document Type: 
Working Paper

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