mcmurtryw18

Inclusion of the Yuan into the IMF

Published on November 19, 2015 Author mcmurtryw18

With depreciation pressure and a potential bid into the IMF present, China has restricted trade at offshore clearing banks. China’s latest move is the most recent in a series of steps intended to stabilize the currency after a shock devaluation last August. The manipulation of currency and the bid to join the IMF seem to… Continue reading Inclusion of the Yuan into the IMF →

Hukou and social mobility

Published on October 25, 2015 Author mcmurtryw18

China’s recent economic growth has been underpinned by a historic migration. While the movement of rural farmers to urban factories has fostered growth, all is not well. Migrants tend to live worse off than their native counterparts, creating a worrisome lack of social mobility. Major Hukou, or household registration, reform is needed to counteract the… Continue reading Hukou and social mobility →

Growth Accounts: China vs. India

Published on September 30, 2015 Author mcmurtryw18

In their article Accounting for Growth: Comparing China and India, Bosworth and Collins investigate the rapid growth these two countries have experienced in the past 35 years. To do this, the authors use an equation where the output is growth and the inputs are TFP, physical capital services, and capital’s share of income. (For those… Continue reading Growth Accounts: China vs. India →