Uncertainty's Effect on China's Knowledge-Based Economy: Transformation Beyond Trade

被引:0
作者
Jia, Wenbo [1 ,2 ]
Jiang, Hao [1 ]
Lyv, Yiqing [2 ]
Sindakis, Stavros [3 ,4 ]
机构
[1] Sichuan Police Coll, Gen Educ Dept, Luzhou 646000, Peoples R China
[2] Sichuan Univ, Sch Econ, 24,South Sect 1,Yihuan Rd, Chengdu 610065, Peoples R China
[3] Hellenic Open Univ, Sch Social Sci, 18 Aristotelous St, Patras 26335, Greece
[4] InnoLab Res, Talient Educ, Athens, Greece
基金
英国科研创新办公室;
关键词
Real effective exchange rate (REER); Economic uncertainty; Time-varying parameter structural vector autoregression (TVP-SV-VAR); Relative entropy; Growth at risk; INTERNATIONAL-TRADE; POLICY UNCERTAINTY; GROWTH; RISK; CHALLENGES; IMPACT;
D O I
10.1007/s13132-024-02036-2
中图分类号
F [经济];
学科分类号
02 ;
摘要
China's trade, once a predictable engine of global growth, now moves to a complex beat amid financial crises, trade conflicts, and shifting geopolitical sands. This study reveals the intricate choreography shaping China's trade trajectory, introducing the "trini graph displays noticeable fluctuations between the "Realized" ty of uncertainty"-exchange rates, trade policy anxieties (domestic and American), and geopolitical shadows. We reveal the nuanced time-varying impact of these forces using a dynamic framework informed by the "growth-at-risk" model and the insightful concept of relative entropy. Like a graceful waltz partner, the real effective exchange rate has a long-term influence. In contrast, trade policy uncertainty in the USA delivers a potent jive, particularly through short-run shocks. Geopolitical risks, a constant tango partner, cast a gloomy shadow over all time horizons. Nonetheless, China's trade growth is remarkable, weathering shocks with adaptable grace; despite a more favorable future with greater upside potential, downside risks persist, urging caution in this delicate dance. This research provides policymakers and business leaders with the knowledge and tools to navigate the turbulent waters ahead, paving the way for informed decisions, resilient strategies, and a more stable global trade environment.
引用
收藏
页码:4684 / 4725
页数:42
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