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Journal of Economic Integration 2008 December;23(4) :896-926.
DOI: https://doi.org/10.11130/jei.2008.23.4.896
China as an Integrated Area?
Sandra Poncet and 
Jean Barthélemy 
Université Paris 1, CEPII
Paris-Jourdan Sciences Economiques
Copyright ©2008 Journal of Economic Integration
ABSTRACT

This paper documents business cycles' fluctuations in Chinese provinces. China's de facto federalism, within a context of great geographical and economic diversity, suggests the great importance of policy coordination between provinces. We investigate the role of various potential determinants of provincial business cycles' synchronization. We consider exogenous factors like distance and size as well as policy factors such as industrial, fiscal and trade policy. Results emphasize the benefits of domestic trade and local fiscal policy rationalization on the stabilization of output fluctuations. However, they also identify international trade and local economic policy heterogeneity as growing centrifugal forces.

JEL Classification: E32, F41, E63

Keywords: China | business cycles' co-movement | specialization | trade
 
REFERENCE
1. Bai, C-E., Du, Y., Tao, Z., Tong, S. Y. (2004), "Protectionism and Regional Specialization: Evidence from China's Industries", Journal of International Economics, 63 (2), p. 397-417.
2. Bahl R. (1999), "Fiscal Policy in China, Taxation and Intergovernmental Fiscal Relations", The 1990 Institute, pp. 236.
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