This paper gauges the potential effects on employment of rebalancing China's export-oriented growth model toward domestic demand, particularly private consumption. Shifting to a private consumption-led growth likely means more demand for existing and new services as well as reorienting the...

This paper gauges the potential effects on employment of rebalancing China's exportoriented growth model toward domestic demand, particularly private consumption. Shifting to a private consumption-led growth likely means more demand for existing and new services as well as reorienting the...

China's current growth model — which has delivered steady and robust growth for two decades and lifted some 500 million individuals out of poverty — has become too reliant on credit and investment, and has begun to experience diminishing returns. Delays in advancing the government's reform...

The global financial crisis experience shone a spotlight on the dangers of financial systems that have grown too big too fast. This note reexamines financial deepening, focusing on what emerging markets can learn from the advanced economy experience. It finds that gains for growth and stability...