China’s Economic Reform: Implications from China and for the World

David Dollar May 1st, 2015

Myron Scholes Forum, April 30, 2015

David Dollar, Senior Fellow; Foreign Policy; Global Economy and Development, John L. Thornton China Center; Brookings Institution

China’s leaders have set progressively lower growth targets as they grapple with the need to restructure their economy away from excessive reliance on investment and exports, and towards greater consumption. David Dollar, Senior Fellow in the China Center at Brookings and former World Bank and Treasury representative in Beijing, discussed the economic reform program unveiled at the Third Plenum in fall 2013. What are the key reforms needed to shift the growth model? What has been the progress with reform during a year and a half of implementation?

Progress in areas such as financial liberalization has been steady, whereas fiscal and state enterprise reforms have been more difficult. Who are the key interest groups pushing for or retarding reform? Can China succeed in thoroughgoing economic reform without parallel efforts for political liberalization? In his talk and during the question-and-answer period, Mr. Dollar addressed these key questions regarding China’s reform prospects, the success or failure of which will have significant implications for the world economy.

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Financial Trust Index

a measure of confidence Americans have in the private institutions in which they can invest

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Scholes Forum: Productivity Growth Is Slower Than You Think

A VIDEO OF THE IGM’S MOST RECENT SCHOLES FORUM TALK CAN BE VIEWED HERE.

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US Monetary Policy Forum

The US Monetary Policy Forum (USMPF) brings academics, market economists, and policy makers together to discuss US monetary policy for an annual conference, sponsored by the IGM. A standing group of academic and private sector economists produces a report on a critical medium-term issue confronting the Federal Open Market Committee.

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China Economic Summer Institute

The China Economic Summer Institute enables the best Chinese scholars to stay in active contact with top-notch researchers from the rest of the world, and provides a forum to encourage promising young Chinese researchers to work on topics that are important for understanding the Chinese economy. To learn more see the CESI WEBSITE.

SELECTED PAPERS FROM THE 2012 CHINA ECONOMIC SUMMER INSTITUTE:

PUBLIC SCHOOL RESOURCES AND PRIVATE SUBSTITUTES IN URBAN CHINA
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A MODEL OF CHINA’S STATE CAPITALISM
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A UNIFIED MODEL OF STRUCTURAL ADJUSTMENTS AND INTERNATIONAL TRADE: THEORY AND EVIDENCE FROM CHINA
by Hanwei Huang, Jiandong Ju, and Vivian Z. Yue

*The IGM cosponsors the CESI with Tsinghua University; UC Berkeley’s Program on Institutions and Governance; and the Katholieke Universiteit Leaven’s LICOS Center.

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