LEADER 04346nam 2200697 450 001 9910464020703321 005 20191127134449.0 010 $a1-4623-1948-3 010 $a1-4527-0469-4 010 $a1-4518-6956-8 010 $a9786612840500 010 $a1-282-84050-9 035 $a(CKB)3170000000055005 035 $a(EBL)1607842 035 $a(SSID)ssj0000943035 035 $a(PQKBManifestationID)11593657 035 $a(PQKBTitleCode)TC0000943035 035 $a(PQKBWorkID)10976895 035 $a(PQKB)10423999 035 $a(OCoLC)762652681 035 $a(MiAaPQ)EBC1607842 035 $a(EXLCZ)993170000000055005 100 $a20140226h20082008 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aReal and financial linkages in China and India /$fJahangir Aziz ; authorized for distribution by Steven Dunaway 210 1$a[Washington, District of Columbia] :$cInternational Monetary Fund,$d2008. 210 4$dİ2008 215 $a1 online resource (38 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/95 300 $aDescription based upon print version of record. 311 $a1-4519-1410-5 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction; II. China and India's Recent Growth Experience; III. China and India's Economy as a Neoclassical Growth Model; Figures; 1. China and India: GDP Growth Rate; 2. Changes in GDP Components: 1990-2005; IV. Calibrating the Growth Model; 3. China: Growth Accounting; 4. China and India: Labor Productivity; 5. India: Growth Accounting; V. Semulating the Solow Growth Model; 6. China: Simulation with Efficiency Wedge; 7. China Simulation with Efficiency and Government Wedges; 8. India: Simulation with Efficiency and Government Wedges; VI. Investment Wedge 327 $a9. China: Derived Investment Wedge 10. India: Derived Investment Wedge; 11. China: Simulation with Efficiency, Government and Investment Wedges; 12. India: Simulation with Efficiency, Government and Investment Wedges; VII. Interpreting Investment Wedges as Financial Frictions; A. China's Nonperforming Loans; 13. China: Derived Cumulative Capital Wedge; 14. China: Average Effective Tax Rate; Table; 1. China: Official Estimate of NPLs Created at End-2004; B. Borrowing Constraints and Bank Reform in China; 15. China: Domestic Savings by Sectors; 16. China: Short-Term Bank Loan 327 $a17. China: Simulation with Borrowing Constraint C. Self-Insurance Against Administrative Controls; D. Financial Sector Reforms in India; 18. Effective Gross Capital Income Tax Rate; 19. India: CRR and SLR; 20. India: Domestic Savings; 21. India: Simulation with SLR; VIII. Conclusions; 22. India: Simulation with SLR and CRR; 23. India: Simulating Policy Change; 24. China: Simulating Policy Change; References 330 $aIn the spirit of what is known as business cycle accounting, this paper finds that the investment wedge-the gap between household's rate of intertemporal substitution and the marginal product of capital-is large and quantitatively significant in explaining China's and India's growth. Specific financial sector policies are shown to map well the size and changes in the investment wedge. In the case of China, nonperforming loans, borrowing constraints, and uncertainty over changes in government guidance in bank lending, have implied large transfers from households to firms that have kept capital 410 0$aIMF Working Papers 606 $aEconomic development$zChina$xEconometric models 606 $aEconomic development$zIndia$xEconometric models 606 $aFinance$zChina$xEconometric models 606 $aFinance$zIndia$xEconometric models 608 $aElectronic books. 615 0$aEconomic development$xEconometric models. 615 0$aEconomic development$xEconometric models. 615 0$aFinance$xEconometric models. 615 0$aFinance$xEconometric models. 676 $a338.951 700 $aAziz$b Jahangir$0856988 701 $aDunaway$b Steven Vincent$0872386 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910464020703321 996 $aReal and financial linkages in China and India$91947659 997 $aUNINA