Is China over-investing and does it matter? / Il Houng Lee, Murtaza Syed, and Liu Xueyan.

"Now close to 50 percent of GDP, this paper assesses the appropriateness of China's current investment levels. It finds that China's capital-to-output ratio is within the range of other emerging markets, but its economic growth rates stand out, partly due to a surge in investment over...

Full description

Saved in:
Bibliographic Details
Main Authors: Lee, Il Houng (Author), Syed, Murtaza, 1975- (Author), Liu, Xueyan (Author)
Format: eBook
Language:English
Published: Washington, D.C. : International Monetary Fund, Asia and Pacific Dept., 2012.
Series:IMF working paper ; WP/12/277.
Subjects:
Online Access:Click for online access

MARC

LEADER 00000cam a2200000 a 4500
001 ocn819710438
003 OCoLC
005 20240909213021.0
006 m o d
007 cr |n|||||||||
008 121130s2012 dcu ob 000 0 eng d
040 |a SIMAS  |b eng  |e pn  |c SIMAS  |d OCLCO  |d OCLCA  |d CUS  |d IDEBK  |d OCLCA  |d E7B  |d CCO  |d EBLCP  |d AZK  |d OCLCQ  |d OCLCO  |d OCLCQ  |d YDXCP  |d OCLCQ  |d AU@  |d LOA  |d COCUF  |d MOR  |d PIFAG  |d N$T  |d ZCU  |d AGLDB  |d OCLCQ  |d MERUC  |d OCLCQ  |d U3W  |d D6H  |d OCLCF  |d STF  |d VNS  |d WRM  |d VTS  |d CEF  |d NRAMU  |d ICG  |d VT2  |d OCLCQ  |d WYU  |d DKC  |d OCLCQ  |d UKCRE  |d BOL  |d AJS  |d OCLCQ  |d OCLCO  |d OCLCQ  |d QGK  |d S2H  |d OCLCO  |d OCLCL  |d OCLCQ  |d OCLCL  |d OCLCQ 
019 |a 823104733  |a 843055274  |a 961519641  |a 962636993  |a 966217698  |a 988458248  |a 991919440  |a 1037792336  |a 1038568033  |a 1045503779  |a 1055348094  |a 1058111569  |a 1077238064  |a 1081210657  |a 1107371388  |a 1114403237  |a 1153563078  |a 1202537743  |a 1228565250  |a 1259182171  |a 1289517484  |a 1313550755 
020 |a 1283947811  |q (electronic bk.) 
020 |a 9781283947817  |q (electronic bk.) 
020 |a 9781475561111  |q (electronic bk.) 
020 |a 1475561113  |q (electronic bk.) 
020 |a 9781475594713  |q (ebook) 
020 |a 1475594712  |q (ebook) 
020 |z 9781475562675 
020 |a 1616357916 
020 |a 9781616357917 
035 |a (OCoLC)819710438  |z (OCoLC)823104733  |z (OCoLC)843055274  |z (OCoLC)961519641  |z (OCoLC)962636993  |z (OCoLC)966217698  |z (OCoLC)988458248  |z (OCoLC)991919440  |z (OCoLC)1037792336  |z (OCoLC)1038568033  |z (OCoLC)1045503779  |z (OCoLC)1055348094  |z (OCoLC)1058111569  |z (OCoLC)1077238064  |z (OCoLC)1081210657  |z (OCoLC)1107371388  |z (OCoLC)1114403237  |z (OCoLC)1153563078  |z (OCoLC)1202537743  |z (OCoLC)1228565250  |z (OCoLC)1259182171  |z (OCoLC)1289517484  |z (OCoLC)1313550755 
037 |a 426031  |b MIL 
043 |a a-cc--- 
050 4 |a HG4538  |b .L44 2012eb 
072 7 |a BUS  |x 027000  |2 bisacsh 
049 |a HCDD 
100 1 |a Lee, Il Houng,  |e author. 
245 1 0 |a Is China over-investing and does it matter? /  |c Il Houng Lee, Murtaza Syed, and Liu Xueyan. 
260 |a Washington, D.C. :  |b International Monetary Fund, Asia and Pacific Dept.,  |c 2012. 
300 |a 1 online resource (22 pages) 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
340 |g polychrome.  |2 rdacc  |0 http://rdaregistry.info/termList/RDAColourContent/1003 
347 |a data file 
490 1 |a IMF working paper ;  |v WP/12/277 
500 |a "November 2012." 
520 |a "Now close to 50 percent of GDP, this paper assesses the appropriateness of China's current investment levels. It finds that China's capital-to-output ratio is within the range of other emerging markets, but its economic growth rates stand out, partly due to a surge in investment over the last decade. Moreover, its investment is significantly higher than suggested by cross-country panel estimation. This deviation has been accumulating over the last decade, and at nearly 10 percent of GDP is now larger and more persistent than experienced by other Asian economies leading up to the Asian crisis. However, because its investment is predominantly financed by domestic savings, a crisis appears unlikely when assessed against dependency on external funding. But this does not mean that the cost is absent. Rather, it is distributed to other sectors of the economy through a hidden transfer of resources, estimated at an average of 4 percent of GDP per year."--Abstract 
504 |a Includes bibliographical references. 
505 0 |a Cover; Contents; I. Introduction; Figure; Figure 1. Gross Capital Formation, in percent GDP; II. Investment in China: Literature Review; III. Neoclassical Model Approach; Figure 2. Capital- and Investment-to-Output Ratio; Figure 3a. Growth and Capital-to-Output Ratio; Figure 3b. Growth and Investment-to-Output Ratio; IV. A Theoretical Framework of Optimal Investment; Figure 4a. Capital- and Investment-to-Output Ratio; Figure 4b. Capital- and Investment-to-Output Ratio; Figure 5a. Contribution of Investment to GDP growth; Figure 5b. Contribution to Growth (in percent of total). 
505 8 |a Figure 6. Production Function V. What Can Aggregate Cross-Country Data Tell Us?; Table; Table 1. Investment Equations 1/ 2/; Figure 7. China: Investment-to-GDP; Table 2. Probit: Probability of crisis; Table 3. Evolution of variables in the lead-up to crisis (5-years); VI. Estimating the Hidden Costs of China's Investment; Figure 9. Profit Margin and Credit allocation between LCs and SMEs; Figure 10. Resource transfers and dead weight loss; Figure 11. Estimated Amount of Resource Transfer from Households to Large Corporate (In percent of GDP); VII. Conclusion; Data Appendix; References. 
546 |a English. 
650 0 |a Investments, Chinese  |x Econometric models. 
650 0 |a Economic development  |z China  |x Econometric models. 
650 7 |a BUSINESS & ECONOMICS  |x Finance.  |2 bisacsh 
650 7 |a Economic development  |x Econometric models  |2 fast 
651 7 |a China  |2 fast  |1 https://id.oclc.org/worldcat/entity/E39PBJdCqh8h6hJY7PT6MQW4bd 
700 1 |a Syed, Murtaza,  |d 1975-  |e author.  |1 https://id.oclc.org/worldcat/entity/E39PCjyDfWk9pBtJHwMTDvBrjd 
700 1 |a Liu, Xueyan,  |e author. 
710 2 |a International Monetary Fund.  |b Asia and Pacific Department,  |e issuing body. 
758 |i has work:  |a Is China over-investing and does it matter? (Text)  |1 https://id.oclc.org/worldcat/entity/E39PCGMCFQPWPFCMV7gqTXv6qP  |4 https://id.oclc.org/worldcat/ontology/hasWork 
776 0 8 |i Print version:  |z 9781283947817 
830 0 |a IMF working paper ;  |v WP/12/277. 
856 4 0 |u https://ebookcentral.proquest.com/lib/holycrosscollege-ebooks/detail.action?docID=1607078  |y Click for online access 
903 |a EBC-AC 
994 |a 92  |b HCD