explaining China''s and India''s growth. Specific financial sector policies are shown to map well the size and changes in the … investment wedge. In the case of China, nonperforming loans, borrowing constraints, and uncertainty over changes in government … rebalancing growth in China and sustaining high investment rate in India, further financial sector reforms could turn out to be …

view is that despite China''s remarkably high growth, the share of consumption in total expenditure has been low and …

China''s sectoral trade composition, product quality mix, and import content of processing exports have all changed … very wide. All this suggests greater caution in using historical data to simulate the response of the China''s economy to … external shocks and exchange rate changes. Analyses based on models whose estimated coefficients largely reflect the China of …

China''s rapid overall growth since 1978 masks significant differences in relative economic performance across its …

This paper uses the standard one-sector neoclassical growth model to investigate why China''s consumption has been low … and investment high. It finds that the low cost of capital has been quantitatively an important factor. Theory predicts … China is to rebalance growth towards relying more on consumption and less on exports and investment, banking sector reforms …

This paper studies the relationship between economic growth and financial development in China during the post-1978 … find that while a positive correlation between growth and financial intermediation exists in China, the association is more … apparent than real. The nonstate sector, which contributed most to China''s remarkable growth during this period, did not use …