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The changing patterns of investment in the PRC economy
Holz, Carsten A. - 2017
The investment-intensive growth model of the People's Republic of China (PRC) is often viewed as state-driven and …
Persistent link: https://www.econbiz.de/10011657882
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China's investment rate : implications and prospects
Holz, Carsten A. - 2017
For the past nearly forty years, China has experienced average annual real GDP growth of close to ten percent, much of … expenditures. This paper documents the role of investment in driving economic growth in China, questions how much longer China can … reduction in investment. It also notes that investment in China remains broad-based across all economic sectors, with little …
Persistent link: https://www.econbiz.de/10011659322
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Physical capital estimates for China's provinces, 1952-2015 and beyond
Holz, Carsten A.; Yue, Sun - 2017
) calculates long-run provincial (and national) physical capital series for China, (ii) distinguishes between capital services and …
Persistent link: https://www.econbiz.de/10011653808
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An open-economy Ramsey-Cass-Koopmans model in reduced form
Spiro, Daniel - 2021
What is a good reduced-form representation of Ramsey-Cass-Koopmans. (RCK) model? Solow's model (despite non-optimizing agents) provides predictions largely consistent with a closed-economy RCK but fundamentally differs regarding open-economy income convergence. Where RCK predicts partial income...
Persistent link: https://www.econbiz.de/10012619417
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Infrastructure and gowth : empirical evidence
Égert, Balázs; Kozluk, Tomasz; Sutherland, Douglas - 2009
Investment in network infrastructure can boost long-term economic growth in OECD countries. Moreover, infrastructure investment can have a positive effect on growth that goes beyond the effect of the capital stock because of economies of scale, the existence of network externalities competition...
Persistent link: https://www.econbiz.de/10003857148
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Understanding PRC investment statistics
Holz, Carsten A. - 2020
Investment statistics of the People's Republic of China are a source of many puzzles. Some investment data are of …
Persistent link: https://www.econbiz.de/10012165950
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Accounting for the duality of the Italian economy
Fernández-Villaverde, Jesús; Laudati, Dario; Ohanian, … - 2023
After 162 years of political unification, Italy still displays large regional economic differences. In 2019, the per capita GDP of Lombardia was 39,700 euros, but Calabria's per capita GDP was only 17,300 euros. We build a two-region, two-sector model of the Italian economy to measure the wedges...
Persistent link: https://www.econbiz.de/10014288295
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The neoclassical growth of China
Fernández-Villaverde, Jesús; Ohanian, Lee E.; Yao, Wen - 2023
This paper studies China's four-fold increase in per capita GDP relative to the U.S. between 1995 and 2019. First, we … argue that China's growth pattern is very similar to that of several other East Asia economies that initially grew very … China's growth path and the growth paths of other East Asia economies at a similar stage of development. The growth paths of …
Persistent link: https://www.econbiz.de/10014293308
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Is finance good for growth? : new evidence from China
Chen, Jingzhu; Ji, Yuemei - 2022
We study the relationship between finance and growth using a sample of 275 Chinese cities during 2009-2018. We exclude a large amount of bank loans to local governments through the local government financing vehicles (LGFVs). This allows us to construct a new and better financial development...
Persistent link: https://www.econbiz.de/10013337564
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Firm heterogeneity, capital misallocation and optimal monetary policy
González, Beatriz; Nuño, Galo; Thaler, Dominik; … - 2021
We analyze monetary policy in a New Keynesian model with heterogeneous firms and financial frictions. Firms differ in their productivity and net worth and face collateral constraints that cause capital misallocation. TFP endogenously depends on the time-varying distribution of firms. Although a...
Persistent link: https://www.econbiz.de/10012697125