Rebalancing China’s Economy : : What Does Growth Theory Tell Us? / / Jahangir Aziz

• Autore: Aziz Jahangir
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2006
• Descrizione fisica: 1 online resource (36 p.)
• Soggetto topico: Business cycles - China - Econometric models; Economic development - China; Capital market - China; Consumption (Economics) - China; Investments - China; Finance - China; Banks and Banking; Macroeconomics; Industries: Financial Services; Banks; Depository Institutions; Micro Finance Institutions; Mortgages; Macroeconomics: Consumption; Saving; Wealth; General Aggregative Models: General; Finance; Banking; Consumption; Nonperforming loans; Loans; National accounts; Economics; Banks and banking; National income
• Soggetto geografico: China Economic policy; China, People's Republic of
• Note generali: "December 2006."
• Nota di bibliografia: Includes bibliographical references (p. 32-34).
• Nota di contenuto: ""Contents""; ""I. INTRODUCTION""; ""II. CONSUMPTION, INVESTMENT, AND SAVINGS IN CHINA""; ""III. THE CHINESE ECONOMY AS A NEOCLASSICAL GROWTH MODEL""; ""IV. CALIBRATING THE GROWTH MODEL""; ""V. SIMULATING THE MODEL: THE FIRST CUT""; ""VI. INTRODUCING INVESTMENT WEDGE""; ""VII. FINANCIAL FRICTIONS AS INVESTMENT WEDGES""; ""VIII. CONCLUSIONS""; ""REFERENCES""
• Sommario/riassunto: This paper uses the standard one-sector neoclassical growth model to investigate why China's consumption has been low and investment high. It finds that the low cost of capital has been quantitatively an important factor. Theory predicts that the price of capital may have been significantly distorted in the 1990s and 2000s. The distortion could have been caused by nonperforming loans, borrowing constraints, and uncertainty over changes in government guidance in bank lending. If China is to rebalance growth towards relying more on consumption and less on exports and investment, banking sector reforms and financial market development could, therefore, turn out to be key.
• Titolo autorizzato: Rebalancing China’s Economy
• ISBN: 1-4623-7602-9; 1-4527-3600-6; 1-283-51323-4; 9786613825681; 1-4519-1004-5
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910788410003321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2006/291