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The natural interest rate in China
Daniel Rees, Guofeng Sun 2021-06-16
We estimate the natural interest rate in China. The natural interest rate averaged between 3 and 5 per cent between the late 1990s and 2010, but declined over the next decade to around 2 per cent. We attribute around two-thirds of the decline in China's natural interest rate to a lower rate of potential output growth. As the decline in the natural interest rate in China mirrors that observed in many other economies, it is possible that global factors explain part of the decline in the natural rate not explained by lower growth.
이전글 | 한·중·일 산업협력의 발전 현황과 전망 | 2021-06-17 |
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다음글 | Money, technology and banking: what lessons can China teach the rest of the world? | 2021-06-16 |