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Some International Policy Issues for China

Author

Listed:
  • K. C. Fung

    (University of California, Santa Cruz, CA, USA)

  • Nathalie Aminian

    (University of Rouen, 1 Rue Thomas Becket, 76821 Mont-Saint-Aignan, France)

  • Alicia Garcia-Herrero

    (Bruegel, Rue de la Charité 33-1210 Brussels, Belgium4Natixis, Global Market Research Corporate & Investment Banking, Asia Pacific Level 72, International Commerce Centre 1 Austin Road West, Kowloon, Hong Kong)

Abstract

In this paper we provide a simple model of an emerging market like China. We attempt to capture two characteristics of an emerging market: The simultaneous presence of market failures and government failures. In this model, we study the national welfare properties of four types of “governance” or “institutions”: A Benevolent Dictator, Extreme Economic Liberalism, Extreme Economic Nationalism and Factional Fighting with groups pressuring the government. We also discuss a case of the Realistic Dictator, who may switch from adopting liberal policies to nationalistic policies as the domestic market gets larger.

Suggested Citation

  • K. C. Fung & Nathalie Aminian & Alicia Garcia-Herrero, 2015. "Some International Policy Issues for China," China Economic Policy Review (CEPR), World Scientific Publishing Co. Pte. Ltd., vol. 4(01), pages 1-10, June.
    • Handle: RePEc:wsi:ceprxx:v:04:y:2015:i:01:n:s1793969015500016
    DOI: 10.1142/S1793969015500016
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    References listed on IDEAS

    as
    1. K.C. Fung, 2015. "Europe, Germany and "The German Model": Economic Links and Implications for China," Global Economic Review, Taylor & Francis Journals, vol. 44(4), pages 376-386, December.
    2. Nathalie Aminian & KC Fung & Alicia Garcia-Herrero & Chelsea C Lin, 2007. "The Political Economy of Exchange Rates: The Case of the Japanese Yen," Working Papers 0702, BBVA Bank, Economic Research Department.
    3. K. C. Fung & Alicia Garcia-Herrero & Alan Siu, 2010. "Developing countries and the World Trade Organization: A foreign influence approach," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 19(1), pages 187-201.
    4. Grossman, Gene M & Helpman, Elhanan, 1994. "Protection for Sale," American Economic Review, American Economic Association, vol. 84(4), pages 833-850, September.
    5. K. C. Fung, 1998. "Accounting for Chinese Trade: Some National and Regional Considerations," NBER Chapters, in: Geography and Ownership as Bases for Economic Accounting, pages 173-204, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

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