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When China Sneezes Does ASEAN Catch a Cold? / / Sohrab Rafiq



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Autore: Rafiq Sohrab Visualizza persona
Titolo: When China Sneezes Does ASEAN Catch a Cold? / / Sohrab Rafiq Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2016
Descrizione fisica: 1 online resource (22 pages) : illustrations (some color)
Disciplina: 337.51059
Soggetto topico: Inflation
Macroeconomics
Monetary Policy
Fiscal Policy
Open Economy Macroeconomics
Business Fluctuations
Cycles
Price Level
Deflation
Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
Economic growth
Economic recession
Financial cycles
Business cycles
Asset prices
Financial sector policy and analysis
Prices
Recessions
Soggetto geografico: China Foreign economic relations Southeast Asia
Southeast Asia Foreign economic relations China
China, People's Republic of
Nota di bibliografia: Includes bibliographical references.
Sommario/riassunto: This paper looks at the effects of a China slowdown on Emerging Market Economies (Indonesia, Malaysia, and Thailand) and Frontier Developing Economies (Cambodia, Lao P.D.R., and Vietnam) in ASEAN. The main finding is that the impact of China growth shocks on ASEAN has risen since the global financial crisis. A one percent decline in China’s growth implies a 0.3 percent reduction in growth for ASEAN EMEs and 0.2 for FDEs. An important component of inflation is also shared between ASEAN and China. These magnitudes are double what they were two decades ago due to stronger trade and financial linkages. Finally, a slowdown in China, while having real effects, also has a financial impact via slower credit growth and lower equity prices. This is in line with the existence of both portfolio balance and signaling channels, in which ASEAN market participants absorb news on China economic activity as an indicator over domestic growth prospects.
Titolo autorizzato: When China sneezes does ASEAN catch a cold  Visualizza cluster
ISBN: 1-4755-5678-0
1-4755-5684-5
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910155013603321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2016/214