Is China over-investing and does it matter? /:
"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...
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C. :
International Monetary Fund, Asia and Pacific Dept.,
2012.
|
| Schriftenreihe: | IMF working paper ;
WP/12/277. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | "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 |
| Beschreibung: | "November 2012." |
| Beschreibung: | 1 online resource (22 pages) |
| Bibliographie: | Includes bibliographical references. |
| ISBN: | 1283947811 9781283947817 9781475561111 1475561113 9781475594713 1475594712 1616357916 9781616357917 |
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| 100 | 1 | |a Lee, Il Houng, |e author. |0 http://id.loc.gov/authorities/names/no2001003211 | |
| 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) | ||
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| 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 | 6 | |a Investissements chinois |x Modèles économétriques. | |
| 650 | 6 | |a Développement économique |z Chine |x Modèles économétriques. | |
| 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/E39PBJcrd4RjtCBk4wfMhTwwG3 | |
| 700 | 1 | |a Syed, Murtaza, |d 1975- |e author. |1 https://id.oclc.org/worldcat/entity/E39PCjyDfWk9pBtJHwMTDvBrjd |0 http://id.loc.gov/authorities/names/nr2004017150 | |
| 700 | 1 | |a Liu, Xueyan, |e author. |0 http://id.loc.gov/authorities/names/no2012157832 | |
| 710 | 2 | |a International Monetary Fund. |b Asia and Pacific Department, |e issuing body. |0 http://id.loc.gov/authorities/names/no97006778 | |
| 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. |0 http://id.loc.gov/authorities/names/no89010263 | |
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| author | Lee, Il Houng Syed, Murtaza, 1975- Liu, Xueyan |
| author_GND | http://id.loc.gov/authorities/names/no2001003211 http://id.loc.gov/authorities/names/nr2004017150 http://id.loc.gov/authorities/names/no2012157832 |
| author_facet | Lee, Il Houng Syed, Murtaza, 1975- Liu, Xueyan |
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| 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. |
| ctrlnum | (OCoLC)819710438 |
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| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.67/30951 |
| dewey-search | 332.67/30951 |
| dewey-sort | 3332.67 530951 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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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</subfield></datafield><datafield tag="504" ind1=" " ind2=" "><subfield code="a">Includes bibliographical references.</subfield></datafield><datafield tag="505" ind1="0" ind2=" "><subfield code="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).</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="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. 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| geographic | China fast https://id.oclc.org/worldcat/entity/E39PBJcrd4RjtCBk4wfMhTwwG3 |
| geographic_facet | China |
| id | ZDB-4-EBU-ocn819710438 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-16T15:03:52Z |
| institution | BVB |
| institution_GND | http://id.loc.gov/authorities/names/no97006778 |
| isbn | 1283947811 9781283947817 9781475561111 1475561113 9781475594713 1475594712 1616357916 9781616357917 |
| language | English |
| oclc_num | 819710438 |
| open_access_boolean | |
| owner | MAIN DE-863 DE-BY-FWS |
| owner_facet | MAIN DE-863 DE-BY-FWS |
| physical | 1 online resource (22 pages) |
| psigel | ZDB-4-EBU |
| publishDate | 2012 |
| publishDateSearch | 2012 |
| publishDateSort | 2012 |
| publisher | International Monetary Fund, Asia and Pacific Dept., |
| record_format | marc |
| series | IMF working paper ; |
| series2 | IMF working paper ; |
| spelling | Lee, Il Houng, author. http://id.loc.gov/authorities/names/no2001003211 Is China over-investing and does it matter? / Il Houng Lee, Murtaza Syed, and Liu Xueyan. Washington, D.C. : International Monetary Fund, Asia and Pacific Dept., 2012. 1 online resource (22 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier polychrome. rdacc http://rdaregistry.info/termList/RDAColourContent/1003 data file IMF working paper ; WP/12/277 "November 2012." "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 Includes bibliographical references. 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. English. Investments, Chinese Econometric models. Economic development China Econometric models. Investissements chinois Modèles économétriques. Développement économique Chine Modèles économétriques. BUSINESS & ECONOMICS Finance. bisacsh Economic development Econometric models fast China fast https://id.oclc.org/worldcat/entity/E39PBJcrd4RjtCBk4wfMhTwwG3 Syed, Murtaza, 1975- author. https://id.oclc.org/worldcat/entity/E39PCjyDfWk9pBtJHwMTDvBrjd http://id.loc.gov/authorities/names/nr2004017150 Liu, Xueyan, author. http://id.loc.gov/authorities/names/no2012157832 International Monetary Fund. Asia and Pacific Department, issuing body. http://id.loc.gov/authorities/names/no97006778 has work: Is China over-investing and does it matter? (Text) https://id.oclc.org/worldcat/entity/E39PCGMCFQPWPFCMV7gqTXv6qP https://id.oclc.org/worldcat/ontology/hasWork Print version: 9781283947817 IMF working paper ; WP/12/277. http://id.loc.gov/authorities/names/no89010263 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=520714 Volltext |
| spellingShingle | Lee, Il Houng Syed, Murtaza, 1975- Liu, Xueyan Is China over-investing and does it matter? / IMF working paper ; 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. Investments, Chinese Econometric models. Economic development China Econometric models. Investissements chinois Modèles économétriques. Développement économique Chine Modèles économétriques. BUSINESS & ECONOMICS Finance. bisacsh Economic development Econometric models fast |
| title | Is China over-investing and does it matter? / |
| title_auth | Is China over-investing and does it matter? / |
| title_exact_search | Is China over-investing and does it matter? / |
| title_full | Is China over-investing and does it matter? / Il Houng Lee, Murtaza Syed, and Liu Xueyan. |
| title_fullStr | Is China over-investing and does it matter? / Il Houng Lee, Murtaza Syed, and Liu Xueyan. |
| title_full_unstemmed | Is China over-investing and does it matter? / Il Houng Lee, Murtaza Syed, and Liu Xueyan. |
| title_short | Is China over-investing and does it matter? / |
| title_sort | is china over investing and does it matter |
| topic | Investments, Chinese Econometric models. Economic development China Econometric models. Investissements chinois Modèles économétriques. Développement économique Chine Modèles économétriques. BUSINESS & ECONOMICS Finance. bisacsh Economic development Econometric models fast |
| topic_facet | Investments, Chinese Econometric models. Economic development China Econometric models. Investissements chinois Modèles économétriques. Développement économique Chine Modèles économétriques. BUSINESS & ECONOMICS Finance. Economic development Econometric models China |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=520714 |
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