Mercantilism and China's hunger for international reserves

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• 作者：Marcel Schrö ; der ^{marcel.schroder@lau.edu.lb}
• 关键词：International reserves ; Precautionary demand ; Mercantilism ; China
• 刊名：China Economic Review
• 出版年：2017
• 出版时间：February 2017
• 年：2017
• 卷：42
• 期：Complete
• 页码：15-33
• 全文大小：962 K
• 卷排序：42

文摘

Quantifies the contribution of the “mercantilist” motive to the reserve build-up in China during 1998Q4–2011Q4. Theory is consistent with using two vastly differing approaches to estimate the role of mercantilist reserve accumulation. In China's case, both approaches yield the same results. The main result suggests that mercantilism accounts for less than 10% of reserve accumulation.