This paper provides an overview of recent Chinese reforms to introduce a modern system of fiscal federalism that balances the need for central macroeconomic control with the economic advantages of decentralized government. Following a discussion of the rationale for decentralization, the paper...

This book analyzes the importance for Asia of rebalancing its growth model toward domestic demand, and what such a rebalancing would entail. The nature of the challenge differs across regional economies, as some, like China, need to raise private consumption while others, like the ASEAN...

This paper presents some facts on China's role in the world economy and measures the impact of China's growth on growth in the rest of the world in the short and long term. Short-run estimates based on VARs and error-correction models suggest that spillover effects of China's growth have...

This book analyzes the importance for Asia of rebalancing its growth model toward domestic demand, and what such a rebalancing would entail. The nature of the challenge differs across regional economies, as some, like China, need to raise private consumption while others, like the ASEAN...

This book analyzes the importance for Asia of rebalancing its growth model toward domestic demand, and what such a rebalancing would entail. The nature of the challenge differs across regional economies, as some, like China, need to raise private consumption while others, like the ASEAN...