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Financial Development Difference, Capital Mismatch and Sino-US Economic Imbalance
TNC ONLINE   2016-11-22 08:18:32 Author:Weiguo Xiao, Zhiwan Qiu and Wei Yuan Source: Font size:[Large][Middle][Small]

Abstract: This paper tests the effect of financial development differences and capital mismatch on Sino-US economic imbalance during 1999Q1-2013Q4.The result shows that the population structure, financial status, economic growth, financial development differences and capital mismatch are important determinants of Sino-US economic imbalance. The effect of financial development differences on Sino-US economic imbalance relies on the selection of alternative variables.The capital mismatch rate of China’s real economy sector and financial service departments is higher than that of the United States, which leads to a continuously increase in Sino-US economic imbalance.

Keywords: Financial development, capital mismatch, current account, net foreign assets, Sino-US economic imbalance

 


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