Real and financial sector linkages in China and India / prepared by Jahangir Aziz.

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....

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Bibliographic Details
Main Author: Aziz, Jahangir (Author)
Format: eBook
Language:English
Published: [Washington, D.C.?] : International Monetary Fund, ©2008.
Series:IMF working paper ; WP/08/95.
Subjects:
Online Access:Click for online access

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245 1 0 |a Real and financial sector linkages in China and India /  |c prepared by Jahangir Aziz. 
260 |a [Washington, D.C.?] :  |b International Monetary Fund,  |c ©2008. 
300 |a 1 online resource (36 pages) 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
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490 1 |a IMF working paper ;  |v WP/08/95 
500 |a Title from PDF title page (viewed November 24, 2008). 
500 |a At head of title: Asia and Pacific Department. 
500 |a "April 2008." 
504 |a Includes bibliographical references (pages 33-36). 
520 |a 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. 
505 0 |a I. INTRODUCTION; II. CHINA AND INDIA'S RECENT GROWTH EXPERIENCE; III. CHINA AND INDIA'S ECONOMY AS A NEOCLASSICAL GROWTH MODEL; IV. CALIBRATING THE GROWTH MODEL; V. SIMULATING THE SOLOW GROWTH MODEL; VI. INVESTMENT WEDGE; VII. INTERPRETING INVESTMENT WEDGES AS FINANCIAL FRICTIONS ; VIII. CONCLUSIONS; REFERENCES. 
651 0 |a China. 
651 0 |a China, People's Republic of. 
651 0 |a India. 
650 0 |a Economic development  |z China  |x Econometric models. 
650 0 |a Economic development  |z India  |x Econometric models. 
650 0 |a Finance  |z China  |x Econometric models. 
650 0 |a Finance  |z India  |x Econometric models. 
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650 7 |a Economic development  |x Econometric models  |2 fast 
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651 7 |a India  |2 fast  |1 https://id.oclc.org/worldcat/entity/E39PBJmdx47cDXrRhBXHtbvPwC 
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830 0 |a IMF working paper ;  |v WP/08/95. 
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