Credit And Fiscal Multipliers In China
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Credit And Fiscal Multipliers In China
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Author : Sophia Chen
language : en
Publisher: International Monetary Fund
Release Date : 2017-12-12
Credit And Fiscal Multipliers In China written by Sophia Chen and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-12-12 with Business & Economics categories.
We jointly estimate credit and fiscal multipliers in China. We use the tenure of the provincial party secretary, interacted with the type of stimulus used in other provinces, to obtain separate instruments for provincial credit and government expenditure. We estimate a fiscal multiplier of 0.8 and a credit multiplier of 0.2 in 2001-2015. The multipliers have changed over time. The fiscal multiplier has increased from 0.75 in 2001-2008 to 1.4 in 2010-2015. The credit multiplier has declined from 0.17 to zero over the same periods. Our results suggest that reducing credit growth in China is unlikely to disrupt output growth, whereas fiscal policy may be effective in supporting macroeconomic adjustment.
Credit And Fiscal Multipliers In China
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Author : Sophia Chen
language : en
Publisher:
Release Date : 2019
Credit And Fiscal Multipliers In China written by Sophia Chen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
People S Republic Of China
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2023-02-10
People S Republic Of China written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-02-10 with Business & Economics categories.
People’s Republic of China: Selected Issues
Credit And Fiscal Multipliers In China
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Author : Sophia Chen
language : en
Publisher: International Monetary Fund
Release Date : 2017-12-12
Credit And Fiscal Multipliers In China written by Sophia Chen and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-12-12 with Business & Economics categories.
We jointly estimate credit and fiscal multipliers in China. We use the tenure of the provincial party secretary, interacted with the type of stimulus used in other provinces, to obtain separate instruments for provincial credit and government expenditure. We estimate a fiscal multiplier of 0.8 and a credit multiplier of 0.2 in 2001-2015. The multipliers have changed over time. The fiscal multiplier has increased from 0.75 in 2001-2008 to 1.4 in 2010-2015. The credit multiplier has declined from 0.17 to zero over the same periods. Our results suggest that reducing credit growth in China is unlikely to disrupt output growth, whereas fiscal policy may be effective in supporting macroeconomic adjustment.
Credit Booms Is China Different
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Author : Ms.Sally Chen
language : en
Publisher: International Monetary Fund
Release Date : 2018-01-05
Credit Booms Is China Different written by Ms.Sally Chen and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-05 with Business & Economics categories.
Strong Chinese output growth after the Global Financial Crisis was supported by booming credit. This credit boom carries risks. International experience suggests that China’s credit growth is on a dangerous trajectory, with increasing risks of a disruptive adjustment and/or a marked growth slowdown. Several China-specific factors—high savings, current account surplus, small external debt, and various policy buffers—can help mitigate near-term risks of a disruptive adjustment and buy time to address risks. But, if the risks are left unaddressed, these mitigating factors will likely not eliminate the eventual adjustment, but make the boom larger and last longer. Hence, decisive policy action is needed to deflate the credit boom safely.
Fiscal Multipliers
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Author : Nicoletta Batini
language : en
Publisher: International Monetary Fund
Release Date : 2014-10-02
Fiscal Multipliers written by Nicoletta Batini and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-10-02 with Business & Economics categories.
Fiscal multipliers are important tools for macroeconomic projections and policy design. In many countries, little is known about the size of multipliers, as data availability limits the scope for empirical research. This note provides general guidance on the definition, measurement, and use of fiscal multipliers. It reviews the literature related to their size, persistence and determinants. For countries where no reliable estimate is available, the note proposes a simple method to come up with reasonable values. Finally, the note presents options to incorporate multipliers in macroeconomic forecasts.
Negotiating The New Normal
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Author : Saurav Jha
language : en
Publisher: Hachette UK
Release Date : 2023-08-17
Negotiating The New Normal written by Saurav Jha and has been published by Hachette UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-17 with Business & Economics categories.
" The world economy was still reeling from the Global Financial Crisis of 2008 when the COVID-19 pandemic struck like a bolt of lightning in late 2019. Whatever remained of the neoliberal credo - based on the salience of free markets - was upended, and economic nationalism fast became the new stock ideology. In Negotiating the New Normal, Saurav Jha carefully examines why, in the wake of the coronavirus shock, strong economic recovery in the developed world is more doubtful than ever. Instead of throwing its weight behind a multipolar world order, China, by far the largest economy among the BRICS nations, has chosen to create a Pax Sinica. However, it is unlikely to make much headway owing to both internal economic contradictions and pushback from the West and beyond. And what of India? Can it become a 'new China' to serve as a key engine of global growth, overcoming the pandemic-induced setback, as well as earlier policy missteps like demonetization? Answering all these questions and raising many more, Jha's deeply researched and cogently argued account examines the 'new normal' of a transactional, even predatory geoeconomic climate where central banks are fast running out of answers and heavily indebted governments are desperately searching for silver bullets. This work of extraordinary depth and ambition, tracing the destinies of the major economic centres of the world, provides a nuanced if sobering context to the reader as it suggests what India must do to rise in this grave new pandemic-ridden world. "
The Effectiveness Of Fiscal Policy In Stimulating Economic Activity
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Author : Richard Hemming
language : en
Publisher: International Monetary Fund
Release Date : 2002-12
The Effectiveness Of Fiscal Policy In Stimulating Economic Activity written by Richard Hemming and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-12 with Business & Economics categories.
This paper reviews the theoretical and empirical literature on the effectiveness of fiscal policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can turn negative (i.e., that fiscal contractions can be expansionary). The paper concludes that fiscal multipliers are overwhelmingly positive but small. However, there is some evidence of negative fiscal multipliers.
People S Republic Of China
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2017-08-15
People S Republic Of China written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-08-15 with Business & Economics categories.
This Selected Issues paper examines the drivers and prospects for high levels of savings in China. China has one of the highest levels of national savings in the world, which is at the heart of its external and internal imbalances. High and rising household savings have mainly resulted from demographic changes as a result of the one-child policy and the breakdown of the social safety net during the transition from a planned to a market economy. Demographic changes will put downward pressure on national savings. Policy efforts to strengthen the social safety net and reduce income inequality are also needed to reduce savings further and faster and to boost consumption.
China And The Global Political Economy
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Author : S. Breslin
language : en
Publisher: Springer
Release Date : 2016-04-30
China And The Global Political Economy written by S. Breslin and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-30 with Political Science categories.
This IPE Classic considers one of the most pressing issues of the Twenty-First century: the relationship between domestic configurations of power and globalized production processes in shaping the process and implications of China's re-engagement with the global economy.