11 Financial Growth and Macroeconomic Stability in China, 1978-92: Implications for Russia and Eastern Europe »
Source: Coordinating Stabilization and Structural Reform : Proceedings of the Seminar Coordination of Structural Reform and Macroeconomic Stabilization, Washington, D.C., June 17-26, 1993
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 15 September 1994
Keywords: interest, exchange rate, inflation, prices, restructuring
Ronald McKinnon From 1978 to 1992, China’s liberalization was gradual, with a fairly stable price level and extraordinarily rapid output growth. Since 1989, rapid liberalizations in...