중국의 경상계정 불균형의 원인과 결과 그리고 거시경제적 함의

• 영문명: Causes and Consequences of China’s Imbalances in Current Account and Macroeconomic Implications
• 발행기관: 대한중국학회
• 저자명: 박재진
• 간행물 정보: 『중국학(구중국어문론집)』中國學 第42輯, 225~258쪽, 전체 34쪽
• 주제분류: 인문학 > 기타인문학
• 파일형태: PDF
• 발행일자: 2012.08.31

영문 초록

In recent years China has experienced two forms of extreme macroeconomic imbalance: an expenditure imbalance in the sense of very high investment and very low consumption, giving rise to rapid capital accumulation; and an imbalance between expenditure and production, producing external imbalance, i.e. a huge surplus on the current account of the balance of payments. This paper explores the current state of the external imbalance in China, and reviews the factors underlying the pre-2008 rising and the post-2008 drop in China’s current account surplus. The paper says that China’s current account surplus must be modest in recent years. However, despite the fact that China’s recent current account is likely to stay below its precrisis range, it is too early to conclude that “rebalancing” has been truly achieved in China. Certainly, the policy thrust of the 12th Five Year Plan is very much focused on raising household income, boosting consumption, and facilitating an expansion of the service sector. In the coming years, if these ongoing structural reforms are implemented, China does have the potential to hand-off from an investment-driven to a consumption-driven decline in its external imbalance.

목차

1. 서론

2. 경상계정 불균형의 변화추이

3. 2000년대 중반 이전 경상계정 불균형의 원인

4. 2000년대 중반 이후 경상계정 불균형 완화의 원인

5. 결론

〈참고문헌〉

〈ABSTRACT〉

키워드

글로벌 불균형 중국의 경상계정 불균형 저축률 투자지출 소비지출 global imbalances China’s current account imbalances savings rates investment expenditure consumption expenditure