Is China over-investing and does it matter?

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...

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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:
Investments, Chinese > Econometric models.
Economic development > China > Econometric models.
BUSINESS & ECONOMICS > Finance.
Economic development > Econometric models
China
Online Access:Click for online access
Table of Contents:
  • 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).
  • 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.

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