Provincial business cycles and fiscal policy in China

Carmignani, Fabrizio and Laurenceson, James (2010). Provincial business cycles and fiscal policy in China. In: China and East Asia in the global economy: 2010 research workshop papers. Reserve Bank of Australia 2010 Research Workshop, Sydney, Australia, (1-28). 13-14 December 2010.

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Author Carmignani, Fabrizio
Laurenceson, James
Title of paper Provincial business cycles and fiscal policy in China
Conference name Reserve Bank of Australia 2010 Research Workshop
Conference location Sydney, Australia
Conference dates 13-14 December 2010
Proceedings title China and East Asia in the global economy: 2010 research workshop papers
Place of Publication Sydney, Australia
Publisher Reserve Bank of Australia
Publication Year 2010
Sub-type Fully published paper
Start page 1
End page 28
Total pages 28
Language eng
Abstract/Summary This paper begins by documenting considerable asynchronization in business cycle fluctuations across China’s 31 provinces. Given that monetary policy is more or less centralized, this asynchronization points to potential benefits from provinces being able to exercise a degree of fiscal autonomy. The extent to which provinces have this autonomy in practice is discussed. Provincial fiscal policy is then analysed to assess whether it has had the effect of smoothing provincial business cycles. A key finding is that, if anything, provincial fiscal policy has amplified provincial business cycles, not smoothed them.
Q-Index Code E1
Q-Index Status Provisional Code
Institutional Status UQ

Document type: Conference Paper
Collection: School of Economics Publications
 
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Created: Wed, 09 Mar 2011, 14:43:09 EST by James Laurenceson on behalf of School of Economics