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150128 ||| eng |
| 020 |
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|a 9781451860986
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| 100 |
1 |
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|a Wei, Shang-Jin
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| 245 |
0 |
0 |
|a The Chinese Approach to Capital Inflows
|b Patterns and Possible Explanations
|c Shang-Jin Wei, Eswar Prasad
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2005
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| 300 |
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|a 61 pages
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| 651 |
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4 |
|a China, People's Republic of
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| 653 |
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|a Foreign exchange reserves
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| 653 |
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|a Investments, Foreign
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| 653 |
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|a Finance
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| 653 |
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|a Balance of payments
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| 653 |
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|a Long-term Capital Movements
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| 653 |
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|a Exports and Imports
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| 653 |
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|a General Financial Markets: General (includes Measurement and Data)
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| 653 |
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|a International economics
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| 653 |
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|a International Lending and Debt Problems
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| 653 |
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|a Debts, External
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| 653 |
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|a External debt
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| 653 |
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|a Central banks
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| 653 |
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|a Financial markets
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| 653 |
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|a Emerging and frontier financial markets
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| 653 |
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|a Capital inflows
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| 653 |
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|a International reserves
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Financial services industry
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| 653 |
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|a Banking
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| 653 |
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|a Capital movements
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| 653 |
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|a Monetary Policy
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| 653 |
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|a Finance: General
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| 653 |
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|a Foreign direct investment
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| 653 |
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|a International Investment
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| 700 |
1 |
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|a Prasad, Eswar
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9781451860986.001
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2005/079/001.2005.issue-079-en.xml?cid=18138-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a In this paper, we adopt a cross-country perspective to examine the evolution of capital flows into China, both in terms of volumes and composition. China's inflows have generally been dominated by foreign direct investment (FDI), a pattern that appears to be favorable in light of the recent literature on the experiences of developing countries with financial globalization. We provide a detailed documentation of the evolution of China's capital controls, a proximate determinant of the pattern of capital inflows. We also discuss a number of other intriguing hypotheses that attempt to capture the "deeper" causes underlying China's approach to capital flows. In particular, we argue that some popular mercantilist-type arguments are inconsistent with the facts. We also analyze the recent rapid rise of China's international reserves and discuss its implications. Contrary to some popular perceptions, the dramatic surge in foreign exchange reserves since 2001 is mainly attributable to non-FDI capital inflows, rather than current account surpluses or FDI.
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