LEADER 05149oam  22013334  450 
001 9910975152203321
005 20250426110539.0
010   $a9786613830333
010   $a9781462363919
010   $a1462363911
010   $a9781452799575
010   $a1452799571
010   $a9781283517881
010   $a1283517884
010   $a9781451909784
010   $a1451909780
035   $a(CKB)3360000000443958
035   $a(EBL)3014322
035   $a(SSID)ssj0000940716
035   $a(PQKBManifestationID)11600652
035   $a(PQKBTitleCode)TC0000940716
035   $a(PQKBWorkID)10955564
035   $a(PQKB)10715388
035   $a(OCoLC)698585507
035   $a(IMF)WPIEE2006265
035   $a(MiAaPQ)EBC3014322
035   $a(IMF)WPIEA2006265
035   $aWPIEA2006265
035   $a(EXLCZ)993360000000443958
100   $a20020129d2006      uf         0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aWhat?s Driving Investment in China? /$fSteven Barnett, R. Brooks
205   $a1st ed.
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2006.
215   $a1 online resource (41 p.)
225 1 $aIMF Working Papers
300   $a"November 2006."
311 08$a9781451865257 
311 08$a1451865252 
320   $aIncludes bibliographical references.
327   $a""Contents""; ""I. INTRODUCTION""; ""II. RECENT DEVELOPMENTS IN INVESTMENT""; ""III. WHAT IS DRIVING MANUFACTURING INVESTMENT?""; ""IV. WHAT IS DRIVING REAL ESTATE INVESTMENT?""; ""V. CONCLUSION""; ""ANNEX I. INVESTMENT AND SAVING DATA BY SECTOR""; ""REFERENCES""
330 3 $aInvestment has grown rapidly in China in recent years, reaching more than 40 percent of GDP. Despite good progress on bank and enterprise reforms, weaknesses remain that could contribute to inefficient investment decisions. Manufacturing, infrastructure, and real estate have been the drivers of fixed asset investment. Econometric analysis presented in the paper suggests that manufacturing investment is strongly correlated with firms' liquidity, largely retained earnings. Analysis of residential real estate investment shows that it is weakly correlated with real household income growth and real mortgage interest rates. A policy implication of these findings is that reducing liquidity in firms, for example by requiring state-owned enterprises to pay dividends to the government, and using monetary policy to reduce liquidity increase real interest rates, would slow investment in manufacturing and real estate.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2006/265
606   $aInvestments, Foreign$zChina
606   $aSaving and investment$zChina
606   $aFlow of funds$zChina
606   $aAggregate Factor Income Distribution$2imf
606   $aBanks$2imf
606   $aCapacity$2imf
606   $aCapital$2imf
606   $aDepository Institutions$2imf
606   $aFinance$2imf
606   $aGross fixed investment$2imf
606   $aHousing prices$2imf
606   $aHousing Supply and Markets$2imf
606   $aHousing$2imf
606   $aIncome$2imf
606   $aIndustries: Financial Services$2imf
606   $aIndustries: Manufacturing$2imf
606   $aIndustry Studies: Manufacturing: General$2imf
606   $aIntangible Capital$2imf
606   $aInvestment$2imf
606   $aInvestments: General$2imf
606   $aMacroeconomics$2imf
606   $aManufacturing industries$2imf
606   $aManufacturing$2imf
606   $aMicro Finance Institutions$2imf
606   $aMortgages$2imf
606   $aPrices$2imf
606   $aProperty & real estate$2imf
606   $aReal Estate$2imf
606   $aSaving and investment$2imf
607   $aChina, People's Republic of$2imf
615  0$aInvestments, Foreign
615  0$aSaving and investment
615  0$aFlow of funds
615  7$aAggregate Factor Income Distribution
615  7$aBanks
615  7$aCapacity
615  7$aCapital
615  7$aDepository Institutions
615  7$aFinance
615  7$aGross fixed investment
615  7$aHousing prices
615  7$aHousing Supply and Markets
615  7$aHousing
615  7$aIncome
615  7$aIndustries: Financial Services
615  7$aIndustries: Manufacturing
615  7$aIndustry Studies: Manufacturing: General
615  7$aIntangible Capital
615  7$aInvestment
615  7$aInvestments: General
615  7$aMacroeconomics
615  7$aManufacturing industries
615  7$aManufacturing
615  7$aMicro Finance Institutions
615  7$aMortgages
615  7$aPrices
615  7$aProperty & real estate
615  7$aReal Estate
615  7$aSaving and investment
700   $aBarnett$b Steven$01816081
701   $aBrooks$b R$0350752
712 02$aInternational Monetary Fund.$bAsia and Pacific Dept.
801  0$bDcWaIMF
906   $aBOOK
912   $a9910975152203321
996   $aWhat?s Driving Investment in China$94372382
997   $aUNINA