Win-Win? Assessing the global impact of the Chinese economy

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dc.contributor Bank of Finland Herrala, Risto Orlandi, Fabrice 2020-02-13T13:05:10Z 2020-02-13T13:05:10Z 2020
dc.identifier.isbn 978-952-323-315-7
dc.identifier.issn 1456-5889
dc.description.abstract We study the global impact of the Chinese economy based on a novel indirect approach where the spillover effect is quantified from a forecast error model under relatively favorable identifying conditions. Findings from the real-time World Economic Outlook data over the period 2004 - 2015 indicate that an increase in economic growth in China had a negative impact on most other economies one to two years ahead. The estimations furthermore uncover evidence at the global level that spillover propagated by influencing prices, including global commodity prices, which tend to increase in reaction to accelerating economic growth in China.
dc.description.tableofcontents Abstract .. 4 I Introduction .. 5 II The empirical approach .. 7 A The estimable equation .. 7 B Finite sample properties .. 10 III Empirical analysis .. 12 A The data .. 12 B Estimation results .. 14 C Robustness tests .. 16 D The spillover channels .. 19 IV Discussion and concluding remarks .. 22 References .. 23
dc.format.extent 27
dc.language.iso ENG
dc.subject Bofit-kokoelma
dc.subject Kiina
dc.subject Kiinan talous
dc.subject.other Chinese economy
dc.subject.other global spillover
dc.subject.other real time data
dc.subject.other China
dc.title Win-Win? Assessing the global impact of the Chinese economy
dc.type Paper
dc.identifier.urn URN:NBN:fi:bof-202002131059
dc.subject.jel C2
dc.subject.jel F15
dc.subject.jel F440 BOFIT Discussion Papers
dc.series.year 2020
dc.series.number 4/2020
dc.series.sortingnumber 0004 12.2.2020
dc.subject.yso talouskasvu
dc.subject.yso vaikutukset
dc.subject.yso kansainvälinen talous
dc.subject.yso hinnat
dc.contributor.orgunit Institute for Economies in Transition (BOFIT)
dc.description.publication Published in Asia and the Global Economy, Volume 1, Issue 1, January 2021
bof-internal.includedInCRIS 1
dc.type.okm D4

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