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This book analyzes the importance for Asia of rebalancing its growth model toward domestic demand, and what such a …Cover -- Contents -- Foreword -- Acknowledgments -- Introduction and Overview -- Part I: REBALANCING GROWTH IN ASIA …: SOME GENERAL THEMES -- 1 Rebalancing Growth in Asia -- Introduction -- Assessing Asia's Export Dependence -- What Does …
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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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