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This paper evaluates the usefulness of business sentiment indicators for forecasting developments in the Chinese real economy. We use data on diffusion indices collected by the People's Bank of China for forecasting industrial production, retail sales and exports. Our bivariate vector...
Persistent link: https://www.econbiz.de/10014225426
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particular, we evaluate how a rebalancing of the economy from investment-led to consumption-led growth would affect the economic …
Persistent link: https://www.econbiz.de/10013125953
Using firm-level data for 18 major global economies, we find that the exchange rate affects corporate investment … through a financial channel: exchange rate depreciation dampens corporate investment through firm leverage and FX debt. These … findings are consistent with the predictions of a stylised model of credit risk in which exchange rates can affect investment …
Persistent link: https://www.econbiz.de/10012841849
Using firm-level data for 18 major global economies, we find that the exchange rate affects corporate investment … through a financial channel: exchange rate depreciation dampens corporate investment through firm leverage and FX debt. These … findings are consistent with the predictions of a stylised model of credit risk in which exchange rates can affect investment …
Persistent link: https://www.econbiz.de/10013250472