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Flexibility of adjustment to shocks: Economic growth and volatility of middle-income countries before and after the Global Financial Crisis of 2008

Aizenman, Joshua; Jinjarak, Yothin; Estrada, Gemma; … - 2017

The pronounced and persistent impact of the global financial crisis of 2008 motivates our empirical analysis of the role of institutions and macroeconomic fundamentals on countries' adjustment to shocks. Our empirical analysis shows that the associations of growth level, growth volatility,...

Persistent link: https://www.econbiz.de/10012064688

Achievements and Challenges: 30 Years of Housing Reforms in the People's Republic of China

Gao, Lu - 2010

In the last three decades, the People's Republic of China (PRC) has managed to replace its welfare-based urban housing system with a market-based housing provision scheme. With such significant housing policy changes, the PRC has successfully expanded urban home ownership and impressively...

Persistent link: https://www.econbiz.de/10011432682

Is India's Long-Term Trend Growth Declining?

Patnaik, Ila; Pundit, Madhavi - 2014

The recent decline in gross domestic product (GDP) growth in India raised a debate about whether it is a trend or a business cycle slowdown. We observe a cyclical downturn post-global financial crisis due to external and domestic conditions. With global recovery strengthening and appropriate...

Persistent link: https://www.econbiz.de/10011432712

The Decline of Investment in East Asia since the Asian Financial Crisis: An Overview and Empirical Examination

Park, Dong-hyun; Shin, Kwanho; Jongwanich, Juthathip - 2009

A key legacy of the Asian financial crisis of 1997–1998 is a sustained drop-off in the investment rates of East Asian countries that were hardest hit by the crisis. We first review the stylized facts of investment in those countries, and then explore and evaluate the various possible...

Persistent link: https://www.econbiz.de/10010507276

Fiscal Sustainability in Developing Asia

Adams, Charles; Ferrarini, Benno; Park, Donghyun - 2010

The central objective of this paper is to empirically examine the issue of fiscal sustainability in developing Asia. To do so, we first diagnose the region's public finances by analyzing the evolution of key fiscal indicators over time and across subregions. We then estimate fiscal policy...

Persistent link: https://www.econbiz.de/10010507295

Impact of International Financial Shocks on Small Open Economies: The Case of Four ASEAN Countries

Ramayandi, Arief - 2011

This paper simulates the impact of a short-term shock originating from the global financial system on small open economies in the Association of Southeast Asian Nations (ASEAN). The simulation uses empirically estimated general equilibrium models for Indonesia, Malaysia, the Philippines, and...

Persistent link: https://www.econbiz.de/10010507322

A Cross-Country Analysis of Achievements and Inequities in Economic Growth and Standards of Living

Son, Hyun - 2009

This paper compares achievements and inequities in standards of living across countries. Achievement is measured by an index, which is constructed to reflect greater achievement for an increase in the standard of living of a country that is already at a high level compared to that of another...

Persistent link: https://www.econbiz.de/10010507273

When Fast Growing Economies Slow Down: International Evidence and Implications for the People's Republic of China

Eichengreen, Barry; Park, Donghyun; Shin, Kwanho - 2011

This paper analyzes international historical evidence and finds that economic growth slows down when per capita income reaches US{dollar}17,000.

Persistent link: https://www.econbiz.de/10010507314

Asia's Changing Role in World Trade: Prospects for South - South Trade Growth to 2030

Anderson, Kym; Strutt, Anna - 2011

from the North Atlantic, raising the importance of Asia in world trade, and boosting South–South trade. How will trade … of the world? In particular, what can be expected of developing Asia's intraregional trade and its trade with other … developing country regions? This paper addresses these questions by projecting a core baseline for the world economy from 2004 to …

Persistent link: https://www.econbiz.de/10010507323