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 explanations for the decline in investment. In our empirical analysis, which expands …

Piketty’s influential book Capital in the Twenty-First Century and its prominent review by Milanovic in the Journal of … Economic Literature both assert the inevitability of an increasing share of capital in total income, given a higher rate of … return to capital than the rate of growth in income. This paper shows by a specific example, a logical argument and its …

be long lasting and associated with significant effects on current accounts, wages and investment. Adjustment episodes …. The adjustment is generally achieved by reducing investment and increasing savings on the back of a falling wage share. A …

lending, financial saving and physical investment it will be shown that this is a nonsense statement. The theory behind it … accounting can clarify the nature of economic phenomena and be an important building block for economic theory. The paper will … argue that there is much confusion about key macroeconomic concepts like saving, investment and finance. This confusion is …

This paper discusses the central macroeconomic claims that are made in Thomas Piketty's book 'Capital in the Twenty …

on a case study of Ecuador - considers the distribution of savings, investment, capital resources and financial losses …ILO pub-WEP pub-PREALC pub. Working paper, model for disaggregated capital accounting within national accounting, based …

, a substantial growth payoff from public investment. Disaggregating public capital shows that investment related to …The paper investigates the growth effects of public capital in Portugal using annual data for the period 1965-95. Both … a production function and a vector autoregressive model are estimated. Public capital is shown to be a significant long …