Premium
ECONOMIC BENEFITS OF GLOBALIZATION: THE IMPACT OF ENTRY TO THE WTO ON CHINA'S GROWTH
Author(s) -
CHING H. STEVE,
HSIAO CHENG,
WAN SHUI KI,
WANG TONGSAN
Publication year - 2011
Publication title -
pacific economic review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.34
H-Index - 33
eISSN - 1468-0106
pISSN - 1361-374X
DOI - 10.1111/j.1468-0106.2011.00548.x
Subject(s) - accession , china , international trade , economics , panel data , globalization , annual growth % , international economics , economy , development economics , geography , agricultural economics , market economy , european union , econometrics , archaeology
A panel data method is used to evaluate the impact of China's accession to the WTO. Time‐series data for China, Australia, Austria, Canada, Denmark, Finland, France, Germany, the UK, Hong Kong, Singapore, Korea, Japan, the Philippines, Indonesia, Malaysia, Thailand, the USA and Taiwan are used to construct the growth path that what would have been followed had there been no entry by China to the WTO. We find that from 2002 to 2007, accession to the WTO raised China's real economic growth rate by 2.4%, its export growth rate by 13.2% and its import growth rate by 18.89% a year.