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Real and financial sector linkages in China and India /
In 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....
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.?] :
International Monetary Fund,
©2008.
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| Colección: | IMF working paper ;
WP/08/95. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | In 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. |
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| Notas: | Title from PDF title page (viewed November 24, 2008). At head of title: Asia and Pacific Department. "April 2008." |
| Descripción Física: | 1 online resource (36 pages) |
| Bibliografía: | Includes bibliographical references (pages 33-36). |