| Srl | Item |
| 1 |
ID:
074185
|
|
|
|
|
| Publication |
2006.
|
| Summary/Abstract |
The present paper reviews the social security pilot in Jilin and Hei Longjiang that was carried out between 2004 and 2005. The pilot in the two provinces has basically achieved its main objectives, but there are still some unsolved problems, the most severe being lack of effective investment of the funds accumulated by individual accounts. During periods of high economic growth and high growth in average wages, this problem might undermine the partially-funded security system. To this end, the paper makes some suggestions, one of which is to introduce the notional defined contribution system.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2 |
ID:
074182
|
|
|
|
|
| Publication |
2006.
|
| Summary/Abstract |
Demographic transition has occurred more rapidly in China than in most developed countries. As the population ages, the growth rate of the working age population has started to decline and the absolute quantity of the working age population will begin to shrink after 2015, which will inevitably result in structural labor shortage. Under the circumstance where comparative advantage is still embodied in its labor-intensive commodities, timely and sufficient supply of a skilled labor force is vital for China to sustain fast economic growth.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
ID:
074184
|
|
|
|
|
| Publication |
2006.
|
| Summary/Abstract |
This paper examines the effectiveness of China's monetary policy in curbing the overheating and speculation problems under the current foreign exchange system. The paper stresses the necessity of capital controls in China's gradual foreign exchange reform and the importance of credible government policy in guiding market expectations. Also, the paper discusses the persistence of China's external imbalance, and provides policy recommendations for its reduction.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 4 |
ID:
074183
|
|
|
|
|
| Publication |
2006.
|
| Summary/Abstract |
China faces rising current account surpluses and foreign reserves. Maintaining the fixed exchange rate runs the risk of overheating of the economy. It is desirable to pursue greater flexibility of the exchange rate regime in the short run, and gradual liberalization of capital account transactions in the medium run. Proper sequencing of various steps is recommended to prevent financial crises. Japan's transition from the dollar peg to a more flexible exchange rate system in 1971–1973 is considered to be a mistake, whereas the gradual capital account opening from the mid-1970s to mid-1990s is considered a success. The present study also analyzes Korea's mistake in opening its capital markets too far ahead of exchange rate flexibility, and liberalizing short-term capital rather than long-term capital. The challenge before China is similar to Japan's of 1969–1970, in the sense that the transition from the dollar peg is inevitable and desirable for the country, but decisive actions with proper sequencing are important.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 5 |
ID:
074181
|
|
|
|
|
| Publication |
2006.
|
| Summary/Abstract |
Much more than comparative advantage and free markets have been at play in shaping China's export success. Government policies have helped nurture domestic capabilities in consumer electronics and other advanced areas that would most likely not have developed in their absence. As a result, China has ended up with an export basket that is significantly more sophisticated than what would be normally expected for a country at its income level. This has been an important determinant of China's rapid growth. What matters for China's future growth is not the volume of exports, but whether China will continue to latch on to higher-income products over time.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|