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constitute long-term appreciation expectations on yuan and yen, which have made China and Japan vulnerable to U.S. interest rate … cuts and appreciation expectation shocks. For both China and Japan - at different points of time - self-fulfilling runs …
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constitute long-term appreciation expectations on yuan and yen, which have made China and Japan vulnerable to U.S. interest rate … cuts and appreciation expectation shocks. For both China and Japan – at different points of time – self-fulfilling runs …
Persistent link: https://www.econbiz.de/10012988972
subsidized state-directed capital allocation (as is currently occurring in the People's Republic of China). If further credit … expansion counteracts a crisis triggered by a preceding overinvestment boom, it paralyzes growth in the long term, as Japan …
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For a long time, China’s impressive growth performance has been driven by investment and high productivity gains. Based on the recent discussion on possible overcapacities and overinvestment in China, the paper investigates the sustainability of China’s investment- and export-driven growth...
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