The Role of Macroeconomic Policy in China's High Economic Growth amidst the Global Financial Crisis
- 서울대학교 경제연구소
- Seoul Journal of Economics
- Financial Crisis and Economic Volatility
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2010.06123 - 144 (21 pages)
- 2
On 22 January 2010, the Chinese State Statistical Bureau announced that the 2009 Chinese economic growth rate remained at 8.7 percent, which fulfilled the 8 percent target preset by the central government at the end of 2008. Many celebrated this achievement, attributing the stimulated economy to government economic policy. This paper analyzes how the macroeconomic policy of the Chinese government contributed to economic growth even under the global financial crisis. The present effects of this policy and its implications on the future are also examined.
Abstract
Ⅰ. How China Used Macroeconomic Policy to Respond to the Financial Crisis
Ⅱ. Why the Chinese Stimulus Is More Effective
Ⅲ. The Cost of Large-Scale Fiscal and Monetary Stimulation
Ⅳ. The Prospects of the Chinese Economy in the Next Few Years
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