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| Author: | Li, X. Ma, Y. |
| Title: | Financial reforms and regional investment conflicts in China: a game-theoretic analysis |
| Journal: | Economics of Planning
1996 : VOL. 29:2, p. 117-130 |
| Index terms: | ECONOMICS INVESTMENT CHINA |
| Language: | eng |
| Abstract: | In the transition from a command to a market economy, macroeconomic stabilization poses a grave problem facing the reform governments. A distinct feature of China's economic fluctuations in the post- 1979 period has been its "soft-constraint competition". A two-region game theoretical model is developed in this paper. The authors find monetary decentralization in the earlier stage of economic liberalization takes the inflation and fiscal deficits out of the control of the central monetary authorities. |
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