Price reform and structural change in the Chinese economy: Policy simulations using a CGE model

Garbaccio, Richard

doi:10.1016/1043-951x(95)90012-8

Cited by 25 publications

(7 citation statements)

References 12 publications

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“…Building on a long tradition of multi-sector CGE models used in analyzing trade and public policies, for example, Beghin et al (1994), Garbaccio (1994), and Wang and Zhai (1998), the model is recursive dynamic. 6 Labor inputs are divided into 22 age and gender groups and the model has a built-in module on population dynamics and labor supply.…”

Section: The Structure Of the Modelmentioning

confidence: 99%

Options and impact of China's pension reform: a computable general equilibrium analysis

Yan

Wang

et al. 2004

Journal of Comparative Economics

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Section: The Structure Of the Modelmentioning

confidence: 99%

Options and impact of China's pension reform: a computable general equilibrium analysis

Yan

Wang

et al. 2004

Journal of Comparative Economics

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“…Since 1992, China implemented ambitious plans to liberalise all prices, including the products with heavy subsidies (Garbaccio, ). The Price Law adopted in 1997 provides a framework of legislation to support price liberalisation, and change the role of the state from “regulator” to “supervisor.” Figure shows that the market price share for both consumer goods and industrial materials is increasing from 40% in 1990 to ~80% in 1997.…”

Section: Institutional Background and Literature Reviewmentioning

confidence: 99%

Does the razor's edge exist? New evidence of the law of one price in China (1997–2012)

Sun

2018

World Economy

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This paper revisits the market integration in China under the gradual economic reform, using a novel data set of monthly prices for 267 goods across 173 cities from 1997 to 2012 with price regulations dramatically removed. We provide new evidence to show that the Law of One price (LOP) holds in the context of China which is experiencing substantial trade liberalisation. First, by accounting for heterogeneity and cross‐sectional dependence, our results show that prices converge to the LOP for most goods, and industrial materials converge faster than non‐perishable goods. Second, in comparison with the earlier analysis with static evidence, our results with the moving window show that convergence is escalating. Third, we find that the price dispersion across products at the city level is increasing with distance, but it is decreasing with openness and economic development. Our findings show China’s market integration is going well under its ongoing market‐oriented reforms, and cast doubt on the proposition that incremental reform in China has led to the fragmentation of the domestic market.

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“…18.46120) (14.28516) Adjustted R-squared: 0.886496 F-statistic: 204.0659 D-W statistic: 1.9641The regression results for(20)including goodness-offit, F-statistic and t test of parameters are all good. Apparently, according to the estimation resultLabor force output elasticity for the three industries ① Labor force output elasticity of aggregate production functionWe can also put aggregate production function in the form of C-D function and perform a regression on (17) with the statistics obtained above.…”

mentioning

confidence: 99%

Measure the effects of China labor resource allocation —an empirical study based on the decomposition of TFP

Chen

Yang

2008

2008 International Conference on Management Science and Engineering 15th Annual Conference Proceedings

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Since reform and opening up, labor force factor in China has witnessed three major transfers among the three industries and different regions. Labor force is an active input factor in economic operation and its allocation among the industries and regions is a direct embodiment of economic operation efficiency. In this context, empirical study on the effects of labor force resource allocation in China and experience drawn from the previous reforms and policies are of great significance for reality. As a result, this paper tries to obtain analytical framework and mathematics models by applying the aggregate production function and E.F.Denison's generalized method in disintegrating the total factor productivity. Based on the model and framework, the paper conducts empirical analysis on the effects of labor resource allocation among the industries and regions after reform and opening up in China and offers suggestions for policy consideration as for the improvement of labor resource allocation efficiency.

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Price reform and structural change in the Chinese economy: Policy simulations using a CGE model

Cited by 25 publications

References 12 publications

Options and impact of China's pension reform: a computable general equilibrium analysis

Options and impact of China's pension reform: a computable general equilibrium analysis

Does the razor's edge exist? New evidence of the law of one price in China (1997–2012)

Measure the effects of China labor resource allocation —an empirical study based on the decomposition of TFP

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