haku: @indexterm EQUILIBRIUM THEORY / yhteensä: 340
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| Tekijä: | Zhuang, J. |
| Otsikko: | Estimating distortions in the Chinese economy: a general equilibrium approach |
| Lehti: | Economica
1996 : NOV, VOL. 63:252, p. 543-568 |
| Asiasana: | ECONOMICS CHINA EQUILIBRIUM THEORY |
| Kieli: | eng |
| Tiivistelmä: | A computable general equilibrium model is constructed to simulate the Chinese economy under a system of free markets, and is estimated using a calibration procedure coupled with econometric estimation for key parameters. The equilibrium solution of the model indicates substantial distortions in prices and resource allocation in the 1983 Chinese economy. Labour was found to be overpaid and capital underpaid in most non-agricultural sectors. Two-fifths of the agricultural labour force would have been employed by the non-agricultural sectors had China been a market economy. |
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