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| Author: | Cai, Yizhen Zheng, Rong |
| Title: | On financial and exchange rate policies and the internal and external equilibrium and policy arrangement under the circumstances of open economy (original in Chinese) |
| Journal: | Nankai Economic Studies (c)
1999 : 4, p.72-75 |
| Index terms: | FINANCIAL POLICY EXCHANGE RATES OPEN ECONOMY CHINA |
| Language: | chn |
| Abstract: | Internal and external equilibrium are the two major macroeconomic goals of the open economy while the fiscal policy and monetary and exchange rate policy are the two major policy instruments to realize the internal and external equilibrium. When a country's economy is below full-employment level, the expansive fiscal policy can be adopted to stimulate economy. But in a open-end country, different exchange rate systems greatly restrict the effectiveness of the fiscal policy. At present we must try to expand exports in order to give full play to the effectiveness of the policies of stabilizing exchange rate and expanding domestic demand. |
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