“Big Bang” versus Gradualism in Economic Reforms: An Intertemporal Analysis with an Application to China

被引:0
|
作者
Andrew Feltenstein
Saleh M. Nsouli
机构
来源
IMF Staff Papers | 2003年 / 50卷 / 3期
关键词
D58; 21;
D O I
10.2307/4149941
中图分类号
学科分类号
摘要
This paper analyzes issues concerning the speed of adjustment and sequencing of reforms in a transition economy. It presents a dynamic general equilibrium model parameterized with Chinese data. The model is used to generate different policy simulations that highlight the importance of the policy instruments used during the transition period. The simulations consider privatization, tariff reform, and devaluation, as well as alternative speeds of introducing these policies. They show that different speeds of adjustment, as well as sequencing of reforms, will have very different implications for macroeconomic aggregates.
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页码:458 / 480
页数:22
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