CGE Models for China: Surveys and Lessons

摘要

Since the beginning of the 1980s, Computable General Equilibrium (CGE) models have been widely used in policy analysis. China has made a rapid progress in CGE modeling, though she doesn't has a longstanding tradition in this research field. With the assistant of some foreign scholar and the fiancial support from domestic or abroad, A number of CGE policy models have previously been formulated for the Chinese economy and these include work in the three main CGE applying fields: Trade liberalization, Environment protection and Fiscal problems. They consider the implications of a wide range of policy issues including the impact of policy and structural changes on various aspects of the performance of an economy such as income distribution, economic growth, financial issues and environment protection. Some CGE model that deal with certain policy problems will be introduced and analyzied in this survey. Based on the work, this paper finds some lessons of Chinese CGE model research that include: Chinese modeler must improve the reliability of data collection and parameters evaluation, incorporate the financial sector in CGE model to adapt to the real economy, adress short run to medium or long run policy simulation, and solve the computation problems. This survey is a useful reference guide for Chinese CGE modeller and it also gives important directions for future research.