This book establishes a theoretical framework that analyzes the enormous effects of fiscal deficits. It provides a comprehensive assessment and discusses the corresponding policy implications. The book is divided into four parts. Part I introduces the issues and discusses the academic and practical value of the topic. Part II provides a comprehensive overview of related domestic and foreign budget deficits and establishes a theoretical framework for analyzing the macro-economic effects of fiscal deficits. Part III elaborates on the effects of a fiscal deficit policy on different macroeconomic variables, such as policy sustainability, national savings, nominal interest rates, money supply, inflation, and balance of trade. Part IV concludes with an empirical analysis, offering an overall evaluation of China’s fiscal deficit policy and its implications for macro-economic regulation and control.
1. Detailed overview of the budget deficits in China
2. Thorough examination into the national savings effect of China's fiscal deficit
3. Comprehensive study of the inflationary effects of the fiscal deficit
4. Broad review of the implications for macroeconomic regulation and control in China
About the Author:
Xu Xiongqi is the Dean of the School of Economics, Chongqing University of Technology, and the Director of the Chongqing Institute of Quantitative Economics. Xu’s research interests are in the areas of financial economics, macro-econometrics and labor economics.
Xie Fei is a Professor of Economics, Visiting Scholar of Australian National University, a member of MBA Teaching Steering Committee of Chongqing University of Technology. Xie's research mainly covers enterprise risk management and industrial economy. He published Risk Quantification in the International Commercial Rate, Financial History of Yuzhong District, Enterprise Management, Principles of Public Relations, etc.