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A potentially important side effect of quantitative easing(QE) by the United States (US) Federal Reserve System (the Fed) is the expansion of capital flows into developing countries. As a result, there is widespread concern that QE tapering may trigger financial instability in those countries....
Persistent link: https://www.econbiz.de/10010933499
Using international data starting in 1957, we construct a sample of cases where fast-growing economies slow down. The evidence suggests that rapidly growing economies slow down significantly, in the sense that the growth rate downshifts by at least 2 percentage points, when their per capita...
Persistent link: https://www.econbiz.de/10011009842
The recession in the United States in the wake of the global financial crisis has dampened developing Asia’s exports and growth. As a result, developing Asia is looking increasingly to the People’s Republic of China (PRC) as a source of demand and growth. This paper empirically assesses the...
Persistent link: https://www.econbiz.de/10009245428
Developing Asia has traditionally relied on exports to the United States and other industrialized countries for demand and growth. As a result, the collapse of exports to the United States and other industrialized countries during the 2008–09 global financial crisis has sharply curtailed GDP...
Persistent link: https://www.econbiz.de/10009352274
There is a widespread perception that the Republic of Korea’s service sector lags behind its dynamic world-class manufacturing sector. We empirically analyze the past performance of the Republic of Korea’s service sector in order to assess its prospects as an engine of growth. Our analysis...
Persistent link: https://www.econbiz.de/10010840929
The demographic dividend that contributed substantially to economic growth in developing Asia in the past is dissipating. Population aging affects growth through savings, capital accumulation, labor force participation, and total factor productivity. We examined the impact of aging on those four...
Persistent link: https://www.econbiz.de/10010840958
The underdeveloped service sector in Asia has the potential to become a new engine of economic growth for developing Asia, which has traditionally relied on export-oriented manufacturing to power its growth. The central objective of this paper is to empirically analyze the prospects for the...
Persistent link: https://www.econbiz.de/10010840984
Persistent link: https://www.econbiz.de/10010713677
We analyze the incidence and correlates of growth slowdowns in fast-growing middle-income countries, extending the analysis of an earlier paper (Eichengreen, Park and Shin 2012). We continue to find dispersion in the per capita income at which slowdowns occur. But in contrast to our earlier...
Persistent link: https://www.econbiz.de/10010821872
Using international data starting in 1957, we construct a sample of cases where fast-growing economies slow down. The evidence suggests that rapidly growing economies slow down significantly, in the sense that the growth rate downshifts by at least 2 percentage points, when their per capita...
Persistent link: https://www.econbiz.de/10008927015