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- Publisher Website: 10.1016/S0304-3878(00)00145-0
- Scopus: eid_2-s2.0-0035047795
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Article: Soft budget constrait and inflation cycles: A positive model of the macro-dynamics in China during transition
Title | Soft budget constrait and inflation cycles: A positive model of the macro-dynamics in China during transition |
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Authors | |
Keywords | China Credit allocation Decentralization Inflation cycles Soft budget constraits |
Issue Date | 2001 |
Citation | Journal of Development Economics, 2001, v. 64, n. 2, p. 437-457 How to Cite? |
Abstract | In this paper we develop a positive, general equilibrium model consistent with China's institutional and political environment to explain the growth and inflation cycles during transition. Central to our explanation is the government's use of the monetary and financial system to support the state sector, and the growing tension between a long-running commitment to the sector and economic decentralization. Given this commitment, we show how the cycles emerge as a product of the government's imperfect control over credit allocation under decentralization and the high costs of implementing administrative credit control. © 2001 Published by Elsevier Science B.V. |
Persistent Identifier | http://hdl.handle.net/10722/315166 |
ISSN | 2023 Impact Factor: 5.1 2023 SCImago Journal Rankings: 3.737 |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Brandt, Loren | - |
dc.contributor.author | Zhu, Xiaodong | - |
dc.date.accessioned | 2022-08-05T10:17:54Z | - |
dc.date.available | 2022-08-05T10:17:54Z | - |
dc.date.issued | 2001 | - |
dc.identifier.citation | Journal of Development Economics, 2001, v. 64, n. 2, p. 437-457 | - |
dc.identifier.issn | 0304-3878 | - |
dc.identifier.uri | http://hdl.handle.net/10722/315166 | - |
dc.description.abstract | In this paper we develop a positive, general equilibrium model consistent with China's institutional and political environment to explain the growth and inflation cycles during transition. Central to our explanation is the government's use of the monetary and financial system to support the state sector, and the growing tension between a long-running commitment to the sector and economic decentralization. Given this commitment, we show how the cycles emerge as a product of the government's imperfect control over credit allocation under decentralization and the high costs of implementing administrative credit control. © 2001 Published by Elsevier Science B.V. | - |
dc.language | eng | - |
dc.relation.ispartof | Journal of Development Economics | - |
dc.subject | China | - |
dc.subject | Credit allocation | - |
dc.subject | Decentralization | - |
dc.subject | Inflation cycles | - |
dc.subject | Soft budget constraits | - |
dc.title | Soft budget constrait and inflation cycles: A positive model of the macro-dynamics in China during transition | - |
dc.type | Article | - |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.1016/S0304-3878(00)00145-0 | - |
dc.identifier.scopus | eid_2-s2.0-0035047795 | - |
dc.identifier.volume | 64 | - |
dc.identifier.issue | 2 | - |
dc.identifier.spage | 437 | - |
dc.identifier.epage | 457 | - |
dc.identifier.isi | WOS:000167002100006 | - |