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By Zhang Bin. Posted January 5, 2018
After rapid economic growth lasting more than 30 years, the People’s Republic of China (PRC) has stepped into the upper middle-income stage. The country’s gross domestic product (GDP) per capita reached $6,416 (constant 2010 dollars) in 2015, equivalent to $13,400 in international dollars under purchasing power parity (constant 2011 international dollars). Read more.
New challenges, opportunities, and strategic choices for financing sustainable urbanization in the PRC
By Li Xu. Posted December 15, 2017
In recent years, the People’s Republic of China (PRC) has accelerated its urbanization process and increased its urbanization rate from 35.88% in 2000 to 56.7% in 2016, equating to over 1% year-on-year growth. The PRC proposed the “people-oriented” New-type Urbanization Plan in 2014 to definitively release further domestic demand potential, promote social equity and welfare improvements, and facilitate economic, social, and ecological integrated development. Read more.
By Li Xu. Posted December 13, 2017
The scale of local government debt (LGD) increased in most countries after the global financial crisis of 2008, resulting in accumulated potential fiscal risk and even systematic risk. Strengthening the management of LGD to avoid risk has become a hot topic. What is the current situation of LGD in the People’s Republic of China (PRC)? Is it high risk or not? What innovations are being implemented? Are there new challenges facing the Chinese government? What are the next steps? These issues, among others, have gained wide attention around the world. Read more.
In recent decades, amid the increasing trend of globalization, it has become prevalent in world trade that firms in some countries outsource intermediate and/or finished goods or services from other firms in foreign countries for the purpose of lowering production costs and increasing production efficiency. Read more.
Many aspects of motivating innovation are painfully obvious, but much research on the topic is segmented depending on the particular issue of interest and the available data for examining that issue. Read more.
By Hans Boon. Posted November 16, 2017
More than 1 billion adult Asians rely on the region’s 350,000 post offices. Over 2 million employees in more than 350,000 post offices and agents across Asia serve 1 billion of the 3.2 billion adults in the region (more than 57% of the world’s adult population) by providing basic financial services, including the receipt of remittances. The majority of the users live in rural communities or peri-urban areas, often at a considerable distance from bank branches, and consider post offices as an immediate access point to financial services. Read more.
By Grant B. Stillman. Posted October 20, 2017
The efficiency of solar power cells and lower cost of storage batteries means it has become possible for isolated villages and whole islands to generate their own electricity off-grid. Indeed, in the aftermath of two hurricanes that struck Puerto Rico, Elon Musk tweeted that independent solar power linked to batteries could rebuild that island’s entire electricity system. Read more.
It is well recognized that innovation is an important ingredient in generating the competitive advantage and long-run growth of nations, ultimately affecting their economic development. Thus, there is considerable interest in the determinants of innovation, not only in the corporate sector but also among policy makers around the world and in Asia in particular. Read more.
In a new paper, Unconventional Monetary Policy in the Asian Financial Crisis: Seeing the Crisis through Post-2008 Eyes, we reassess some of the policies central banks used during the Asian Financial Crisis of 1997–1998 in light of the responses of some advanced-economy central banks to the North Atlantic Financial Crisis of 2008. Public funding of bank recapitalizations in Thailand and the extraordinary purchase of equities in Hong Kong, China have elements of the unconventional monetary policy known as quantitative easing (QE) that has received so much attention in major advanced economies in recent years. Read more.
By Shai Bernstein. Posted September 21, 2017
One of the key challenges for policy makers today is fostering an environment that promotes innovation and entrepreneurship to create robust economic growth. Public equity markets are typically central to such environments, and in particular the ability of firms to go public through the initial public offering (IPO) process. Read more.
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- Opening-up in the upper middle-income stage: Implications from international experiences
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- Innovations in managing local government debt in the People’s Republic of China
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