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This paper analyzes the real (direct) and financial crowding out in India between 197071 and 200203. Using an … former but not the latter, supporting the conclusion that there is no financial crowding out in India. The differential …
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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 that the price of capital may have been significantly...
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