Rebalancing The Economy

Author : Stijn Claessens,Simon J. Evenett,Bernard M. Hoekman
Publisher : CEPR
Page : 215 pages
File Size : 52,7 Mb
Release : 2010-08
Category : Economic policy
ISBN : 9781907142116

Get Book

Rebalancing the Global Economy by Stijn Claessens,Simon J. Evenett,Bernard M. Hoekman Pdf

The purpose of this electronic book is to provide policymakers and their advisers with up-to-date, comprehensive analyses of the central facets of global economic imbalances and to identify and evaluate potential national and systemic responses to this challenge. To break down the many facets of this collective economic challenge, leading experts were asked to address one of the following policy-relevant questions. 1. How large are contemporary current account imbalances? Why do they persist? 2. What are the systemic costs of imbalances? 3. What are the lessons from previous attempts to rebalance the global economy? 4. What would rebalancing entail? Which policies must change? Is collective action needed? 5. What is the political viability of proposals to rebalance national economies? 6. Are new system-wide accords needed to promote rebalancing or to discourage persistent imbalances? www.voxeu.org/reports/global_imbalances.pdf

Author : Michael Pettis
Publisher : Princeton University Press
Page : 256 pages
File Size : 52,5 Mb
Release : 2014-10-26
Category : Business & Economics
ISBN : 9780691163628

Get Book

The Great Rebalancing by Michael Pettis Pdf

How trade imbalances spurred on the global financial crisis and why we aren't out of trouble yet China's economic growth is sputtering, the Euro is under threat, and the United States is combating serious trade disadvantages. Another Great Depression? Not quite. Noted economist and China expert Michael Pettis argues instead that we are undergoing a critical rebalancing of the world economies. Debunking popular misconceptions, Pettis shows that severe trade imbalances spurred on the recent financial crisis and were the result of unfortunate policies that distorted the savings and consumption patterns of certain nations. Pettis examines the reasons behind these destabilizing policies, and he predicts severe economic dislocations that will have long-lasting effects. Demonstrating how economic policies can carry negative repercussions the world over, The Great Rebalancing sheds urgent light on our globally linked economic future.

Author : Christopher Brook (Economist),Miriam Kennet
Publisher : Unknown
Page : 350 pages
File Size : 51,6 Mb
Release : 2014-10
Category : Environmental economics
ISBN : 1907543848

Get Book

Rebalancing the Global Economy by Christopher Brook (Economist),Miriam Kennet Pdf

Author : Stijn Claessens,Simon J. Evenett,Bernard M. Hoekman
Publisher : Unknown
Page : 204 pages
File Size : 46,5 Mb
Release : 2010
Category : Economic policy
ISBN : OCLC:700952441

Get Book

Rebalancing the Global Economy by Stijn Claessens,Simon J. Evenett,Bernard M. Hoekman Pdf

This new eBook aims to provide policymakers and their advisers with up-to-date, comprehensive analyses of the central facets of global economic imbalances and to identify and evaluate potential national and systemic responses to this challenge.--Publisher description.

Author : Ewald Nowotny,Doris Ritzberger-Grünwald,Helene Schuberth
Publisher : Edward Elgar Publishing
Page : 264 pages
File Size : 45,7 Mb
Release : 2015-09-25
Category : Business & Economics
ISBN : 9781784719807

Get Book

The Challenge of Economic Rebalancing in Europe by Ewald Nowotny,Doris Ritzberger-Grünwald,Helene Schuberth Pdf

In the long aftermath of the acute global financial crisis of 2008/09, “rebalancing” the economy with new sources of growth and productivity remains a persistent necessity. This book addresses the resulting trade-offs and challenges. These needs, and the corresponding policy challenges, are especially prevalent in Europe, in particular Central, Eastern and South-Eastern Europe. On this issue, this book contributes lessons learned from earlier balance sheet recessions. It also addresses the often overlooked link between macroeconomic imbalances and economic inequality. Further contributions focus on the interaction between monetary policy and financial stability, adding a regional perspective to these important issues.

Author : Huw McKay,Ligang Song
Publisher : ANU E Press
Page : 386 pages
File Size : 42,5 Mb
Release : 2012-07-01
Category : Business & Economics
ISBN : 9781921862809

Get Book

Rebalancing and Sustaining Growth in China by Huw McKay,Ligang Song Pdf

The idea that China’s economy needs to rebalance is no longer controversial inside or outside the country. Whether it be the increasing recognition of income inequality at home; the still large external surplus; the focus on consumption and industrial upgrading in the policy discourse; the economic, political and social tensions associated with the major decline in housing affordability; the profound conflict between industrialisation, urbanisation and the biosphere; the profitability gulf between the top SOEs and private firms; or the uni-directional pressures pushing on the real exchange rate; the evidence in favour of a highly imbalanced structure is omnipresent. Rebalancing and Sustaining Growth in China brings together some of the world’s leading observers of the Chinese economy to debate the multifarious questions pertaining to rebalancing. How are we to make sense of the many, often contradictory, proposals that seek the same ultimate objective of a more sustainable growth model? What mix of policies will be most effective in addressing the required structural change without sacrificing prosperity along the way? Where should we look for root causes, and how can we avoid getting distracted by symptoms? How do China’s unique internal migration dynamics – and the Lewis turning point – constrain its options? What role will and should financial, fiscal and welfare reform play in the process? Where do water and energy security fit in? Can China innovate before it gets old – or can China get smart before it gets rich? And are intergenerational issues being taken into account?

Author : Michael Pettis
Publisher : Unknown
Page : 219 pages
File Size : 52,6 Mb
Release : 2013
Category : Business & Economics
ISBN : 0691158681

Get Book

The Great Rebalancing by Michael Pettis Pdf

A noted economist argues instead that we are not entering another Great Depression but rather are undergoing a critical rebalancing of the world economies.

Author : Charles Clark,Helen Alford
Publisher : Unknown
Page : 63 pages
File Size : 53,7 Mb
Release : 2010
Category : Economics
ISBN : 1860826415

Get Book

Rich and Poor by Charles Clark,Helen Alford Pdf

The world we live in is full of examples of the chasm that exists between the super-rich and their lavish lifestyles and those who live in abject poverty often not even able to find enough food to sustain their own lives. This has often led to an inequality in the perceived value of people themselves. This booklet explains how the Church's Social teaching, based on the dignity of the human person and the common good can be applied to reduce such basic injustices.

Author : Ms.Longmei Zhang
Publisher : International Monetary Fund
Page : 22 pages
File Size : 54,5 Mb
Release : 2016-09-06
Category : Business & Economics
ISBN : 9781475532937

Get Book

Rebalancing in China—Progress and Prospects by Ms.Longmei Zhang Pdf

China is transitioning to a greener, more inclusive, more consumer and service based, and less credit-driven economy. This paper defines a framework for assessing rebalancing, reviews progress, and discusses medium-term prospects. External rebalancing has advanced well, while progress on internal rebalancing has been mixed, with substantial progress on the supply side, moderate progress on the demand side, and limited progress on the credit side. Rebalancing on income equality and environment has also been mixed, with the energy intensity of growth falling and labor’s share of income rising, but income inequality and local air pollution remaining very high. Going forward, the high national saving is expected to fall owing to demographic change and a stronger social safety net, while the investment ratio is expected to fall similarly, with increasing competition and profit normalization as growth slows. The service sector will continue to gain importance, helping reduce the carbon intensity of output and increase labor’s share of national income and household consumption. Reducing the credit intensity of growth is likely to progress slowly unless decisive corporate restructuring and SOE reforms are implemented.

Author : Barry P. Bosworth,Masahiro Kawai
Publisher : Brookings Institution Press
Page : 283 pages
File Size : 55,9 Mb
Release : 2015-01-20
Category : Business & Economics
ISBN : 9780815722618

Get Book

Transpacific Rebalancing by Barry P. Bosworth,Masahiro Kawai Pdf

A Brookings Institution Press and Asian Development Bank Institute publication Persistently large external imbalances in the world economy contributed to the outbreak of the recent financial crisis. The current account imbalances were particularly severe among the economies that border on the Pacific—the United States ran large deficits, with offsetting surpluses in East Asia. The depth and breadth of the global recession also demonstrated the need for a coordination of national policies to achieve a sustained recovery. While the magnitude of global-trade disruption led to some reduction in the size of the imbalances, closer examination suggests that the progress may prove temporary. On the other hand, significant changes in the underlying patterns of saving and investment suggest that some of the recent rebalancing may prove to be more permanent. Are such imbalances really a problem? If so, why and for whom? What should be done about them—if anything—and what does the future likely hold for transpacific trade relations? In this timely book, Asian and American economists explore those important questions. Copublished with the Asian Development Bank Institute, Transpacific Rebalancing is coedited by Barry Bosworth—long one of the Brookings Institution's leading economic analysts—and Masahiro Kawai, dean of the ADBI. They brought together leading economists from either side of the Pacific to analyze such issues as: • The impact of exchange rates • The policy choices facing the "Asian tigers" • The specifics and effects of trade imbalances in specific countries including the United States, South Korea, Thailand, India, and China Contributors include Hwee Kwan Chow, Susan M. Collins, Barry Eichengreen, Joonkyung Ha, Yping Huang, Ginalyn Komoto, Jong-Wha Lee, Rajiv Kumar, Deunden Nikomborirak, Gisela Rua, Lea Sumulong, Chalongphob Sussankam, Kunyu Tao, Willem Thorbecke, and Pankaj Vashisht.

Author : Rui Mano,Jiayi Zhang
Publisher : International Monetary Fund
Page : 17 pages
File Size : 46,8 Mb
Release : 2018-11-12
Category : Business & Economics
ISBN : 9781484380673

Get Book

China’s Rebalancing: Recent Progress, Prospects and Policies by Rui Mano,Jiayi Zhang Pdf

While China’s growth gathered momentum in 2017, rebalancing was uneven and decelerated along many dimensions reflecting the temporary factors behind the growth pickup. Going forward, rebalancing is expected to proceed as these temporary factors recede, but elevated income inequality and leverage will remain a challenge. The authorities are already pursuing several pro-rebalancing policies which could be expanded to support each dimension of rebalancing while reducing trade-offs between them.

Author : Great Britain: Parliament: House of Commons: Business, Innovation and Skills Committee
Publisher : The Stationery Office
Page : 84 pages
File Size : 49,9 Mb
Release : 2011-07-11
Category : Business & Economics
ISBN : 0215560450

Get Book

Rebalancing the economy by Great Britain: Parliament: House of Commons: Business, Innovation and Skills Committee Pdf

In this report the Commons Business Innovation and Skills Committee says it has concerns over the Government's ability to deliver on its strategy to support UK exports: a key part of the Government's strategy to support the UK's recovery from recession. The Committee welcomes the direction of the new strategy, which has gone some way to address business concerns. It also contains some innovative policies and a clearer focus across Whitehall on trade promotion. However, the Committee was unimpressed with the pace of the Department's policy formation. In particular it was unimpressed with the delay in publishing the UK Trade and Investment's (UKTI) strategy for business support and the time taken to appoint both a Trade Minister and Chief Executive of UKTI. There are concerns about the Government's ability to deliver on the strategy given the reduction in funding available to the Department and its delivery organisations. It highlights the risk of reductions to the UKTI's budget, services and trade advisers. While it welcomes the Government's ambition to make UKTI a more entrepreneurial organisation, the Committee remains unconvinced that it will be able to attract the right people from the private sector given these constraints. They conclude that it is early days for a new trade strategy, a new Trade Minister and a new Chief Executive of UKTI. Given the funding constraints faced by UKTI successful delivery of the strategy represents a significant challenge. Its success can only be measured by positive outcomes for business and we will judge the Government's strategy in that light.

Author : Michael Pettis
Publisher : Brookings Institution Press
Page : 172 pages
File Size : 49,5 Mb
Release : 2013-09-24
Category : Political Science
ISBN : 9780870034084

Get Book

Avoiding the Fall by Michael Pettis Pdf

The days of rapid economic growth in China are over. Mounting debt and rising internal distortions mean that rebalancing is inevitable. Beijing has no choice but to take significant steps to restructure its economy. The only question is how to proceed. Michael Pettis debunks the lingering bullish expectations for China's economic rise and details Beijing's options. The urgent task of shifting toward greater domestic consumption will come with political costs, but Beijing must increase household income and reduce its reliance on investment to avoid a fall.

Author : Mr.Hamid Faruqee,Mr.Krishna Srinivasan
Publisher : INTERNATIONAL MONETARY FUND
Page : 0 pages
File Size : 55,8 Mb
Release : 2013-08-09
Category : Business & Economics
ISBN : 1475573669

Get Book

Global Rebalancing by Mr.Hamid Faruqee,Mr.Krishna Srinivasan Pdf

This book examines imbalances in seven major economies: China, France, Germany, India, Japan, the United Kingdom, and the United States, evaluating key indicators agreed on by the G20 for identifying large imbalances, including public and private debt and private saving, and countries external position. The chapters describe a suite of corrective steps tailored for each country that, if implemented, could improve prospective economic outcomes, creating sustainable and balanced growth for these economies and serving as a model for other G20 countries.

Author : Mr.Anoop Singh,Mr.Malhar Nabar,Mr.Papa M N'Diaye
Publisher : International Monetary Fund
Page : 292 pages
File Size : 46,6 Mb
Release : 2013-11-07
Category : Business & Economics
ISBN : 9781484321935

Get Book

China's Economy in Transition by Mr.Anoop Singh,Mr.Malhar Nabar,Mr.Papa M N'Diaye Pdf

China's current account surplus has declined to around one-quarter the peak reached before the global financial crisis. While this is a major reduction in China's external imbalance, it has not been accompanied by a decisive shift toward consumption-based growth. Instead, the compression in its external surplus has been accomplished through increasing fixed investment so that it is now an even higher share of China's national economy. This increasing reliance on fixed investment as the main driver of China's growth raises questions about the durability of the compression in the external surplus and the sustainability of the current growth model that has had unprecedented success in lifting about 500 million people out of poverty over the last three decades. This volume examines various aspects of the rebalancing process underway in China, highlighting policy lessons for achieving stable, sustainable, and inclusive growth.