Credit and fiscal multipliers in China /

We jointly estimate credit and fiscal multipliers in China. We use the tenure of the provincial party secretary, interacted with the type of stimulus used in other provinces, to obtain separate instruments for provincial credit and government expenditure. We estimate a fiscal multiplier of 0.8 and a...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Chen, Sophia, 1980- (Autor), Ratnovski, Lev (Autor), Tsai, Pi-Han (Autor)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C.] : International Monetary Fund, [2017]
Colección:IMF working paper ; WP/17/273.
Temas:
Credit > China.
Fiscal policy > China > Econometric models.
Crédit > Chine.
Politique fiscale > Chine > Modèles économétriques.
BUSINESS & ECONOMICS > Finance.
Credit.
Economic history.
Fiscal policy > Econometric models.
China > Economic conditions > Econometric models.
Chine > Conditions économiques > Modèles économétriques.
China.
Acceso en línea:Texto completo
Tabla de Contenidos:
  • Cover; Contents; I. Introduction; II. Data and method; III. Results; A. Credit and fiscal multipliers; B. Robustness; C. Industry composition; D. Discussion on â#x80;#x9C;open economy multipliersâ#x80;#x9D;; IV. Conclusion; Figure; Figure 1. The correlation of bank loans and TSF growth; Figure 2. Appointments of provincial party secretaries; Figure 3. Credit and expenditure growth over the tenure of provincial party secretaries; Figure 4. Sensitivity to other provincesâ#x80;#x99; stimulus policies over the tenure of provincial secretaries; Table; Table 1. Summary statistics.
  • Table 2. Appointments of party secretaries and provincial economic conditionsTable 3. Full sample results; Table 4. Early and late subsamples results; Table 5. Weighted results; Table 6. Sectoral multipliers; References.

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