The Chinese economic transformation stands at crossroads. To manage the next
steps of the transformation process China needs to define a new strategy towards
innovation driven growth. In contrast to the export- and investment driven
growth in the past, private consumption will play a more
dominant role. Faster urbanization can promote the transformation, as cities
provide a more favourable climate to consume. In addition, it improves the
conditions for expansion of the services sector.
Institutional conditions for the transformation are not optimal. Impediments such as the still low level of
social security put a downward pressure on private consumption. Innovation
activities of private firms are restricted due to limited access to bank credit.
Entrepreneurs have to lend at the shadow banking system at high interest rates.
The need for reforms is striking in different areas. Otherwise, China could run
an increasing risk to get stuck in a middle income trap.
Financial market reform
Financing conditions for SMEs
Chinese FDI in Europe
Chinese Academy of Social Sciences, Beijing
Renmin University of China, Beijing
Chinese Economists Society
Sessions at AEA conferences
The integration of China into the world economy,
The sustainability of the Chinese growth model,
Institutional conditions for sustainable growth,
Is there a Chinese real estate bubble? Regional evidence and implications
Urban Policy and Research 31, 2013, 27-39 (with Zhang)
The Chinese impact on output growth and inflation in industrial countries
Economic Modelling 38, 2014, 184-189 (with Zhang)
On the relevance of exports for regional output growth in China
Applied Economics 46, 2014, 4302-4308 (with Zhang)
Understanding Chinese consumption. The impact of Hukou
Development and Change 46, 2015, 1331-1345 (with Wang, Zhang)
Determinants of Chinese direct investments in the European Union
Discussion Paper 1480 (with Schueler-Zhou, Schueller)
Determining minimum wages in China: Do economic factors dominate?
IZA Discussion Paper 9716 (with Kosfeld, Zhang)
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