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China’s Path to Consumer-Based Growth; Reorienting Investment and Enhancing Efficiency
Lee, Il Houng; Syed, Murtaza H.; Xueyan, Liu - International Monetary Fund (IMF) - 2013
This paper proposes a possible framework for identifying excessive investment. Based on this method, it finds evidence … that some types of investment are becoming excessive in China, particularly in inland provinces. In these regions, private … consumption has on average become more dependent on investment (rather than vice versa) and the impact is relatively short …
Persistent link: https://www.econbiz.de/10011242435
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Global Business Cycles; Convergence or Decoupling?
Kose, M. Ayhan; Prasad, Eswar; Otrok, Christopher - International Monetary Fund (IMF) - 2008
-output, consumption, and investment-into different factors. These are: (i) a global factor, which picks up fluctuations that are common …
Persistent link: https://www.econbiz.de/10005825794
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The Unequal Benefits of Fuel Subsidies; A Review of Evidence for Developing Countries
Coady, David; Granado, Javier Arze del - International Monetary Fund (IMF) - 2010
This paper reviews evidence on the impact of fuel subsidy reform on household welfare in developing countries. On average, the burden of subsidy reform is neutrally distributed across income groups; a $0.25 decrease in the per liter subsidy results in a 6 percent decrease in income for all...
Persistent link: https://www.econbiz.de/10008671315
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Revisiting the Link Between Finance and Macroeconomic Volatility
Dabla-Norris, Era; Srivisal, Narapong - International Monetary Fund (IMF) - 2013
, consumption, and investment growth, but only up to a certain point. At very high levels, such as those observed in many advanced … economies, financial depth amplifies consumption and investment volatility. We also find strong evidence that deeper financial …
Persistent link: https://www.econbiz.de/10010790267
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Are Developing Countries Better off Spending their Oil Wealth Upfront?
Takizawa, H.; Gardner, E. H.; Ueda, Kenichi - International Monetary Fund (IMF) - 2004
We question the conventional view that it is optimal for government to maintain a stable level of spending out of oil wealth. We compare this conventional policy recommendation with one where government spends all of its oil revenues upfront, at the same rate as oil is extracted. Using a...
Persistent link: https://www.econbiz.de/10005769156
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Fiscal Policy and Private Sector Saving Behavior; Tests of Ricardian Equivalence in Some Developing Economies
International Monetary Fund (IMF); International … - 1987
Tax or debt financing of a given rate of government expenditures would, according to the now well-known Ricardian Equivalence proposition, have equivalent effects on aggregate demand. Among the reasons for a deviation from the equivalence is the possibility that the government and the private...
Persistent link: https://www.econbiz.de/10005599233
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Multi-Country Evidenceon the Effects of Macroeconomic, Financial and Trade Policieson Efficiency of Resource Utilization in the Developing Countries
Odedokun, M. O. - International Monetary Fund (IMF) - 1992
This study examines the effects of selected policies on economic efficiency in 81 developing countries by pooling cross-country data over various subperiods between 1961-90. An incremental output-capital ratio is the measure of economic efficiency, while the policy variables include: export...
Persistent link: https://www.econbiz.de/10005599766
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Fiscal Policy and Economic Development
Mourmouras, Alex; Rangazas, Peter - International Monetary Fund (IMF) - 2008
public infrastructure investment, and less representative governments in many of today's developing economies. …
Persistent link: https://www.econbiz.de/10005604955
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Interest Rates, Credit Rationing, and Investment in Developing Countries
Nkusu, Mwanza - International Monetary Fund (IMF) - 2003
This paper examines the impact of interest rates and inflation on bank loans and investment within a framework that … treating the lending and deposit rates of interest as distinct parameters in investment equations. The spread between the two …
Persistent link: https://www.econbiz.de/10005605233
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U.S. Fiscal Policies and Priorities for Long-Run Sustainability
Mühleisen, Martin; Towe, Christopher M. - International Monetary Fund (IMF) - 2004
This paper presents an overview of recent U.S. fiscal developments and discusses possible implications of the sharp turn around in the government’s fiscal position. Against this back ground, it also reviews key policy challenges that will need to be addressed to cope with the mounting...
Persistent link: https://www.econbiz.de/10005824863