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China Spillovers

China Spillovers »

Source: China Spillovers : New Evidence From Time-Varying Estimates

Volume/Issue: 2016/07

Series: Spillover Notes

Author(s): Davide Furceri , João Tovar Jalles , and Aleksandra Zdzienicka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 November 2016

ISBN: 9781475546637

Keywords: Exports, Asia and Pacific, Commodities, China, Manufacturing, Industry, Trade, growth, global economic growth, global financial crisis

Until recently, China has been the leading contributor to global economic growth and-since the recent global financial crisis-a stabilizing driver of its evolution. However, as China recently began to rebalance its...

Collect More, Spend Better

Collect More, Spend Better »

Source: Collect More, Spend Better : Public Investment in Asian Frontier Markets

Volume/Issue: 2017/10

Series: IMF Working Papers

Author(s): Manuk Ghazanchyan , Ricardo Marto , Jiri Jonas , and Kaitlyn Douglass

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2017

ISBN: 9781475570892

Keywords: Southeast Asia, Sri Lanka, Tax collection, Vietnam, Capital expenditure, Public investment, Fiscal policy, Emerging markets, Cambodia, Debt sustainability

We use a dynamic small open economy model to explore the macroeconomic impact of alternative public investment scaling-up scenarios, analyzing how improving the efficiency of capital spending and of tax revenue col...

Corporate Restructuring and Its Macro Effects

Corporate Restructuring and Its Macro Effects »

Source: Corporate Restructuring and Its Macro Effects

Volume/Issue: 2017/17

Series: IMF Working Papers

Author(s): Jongsoon Shin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 January 2017

ISBN: 9781475572438

Keywords: Asia and Pacific, Debt restructuring, Corporate sector, Production, Investment, Korea, Republic of, Corporate debt, restructuring, macro effects, unemployment

This paper describes issues in Korea's corporate sector, the need for restructuring, and the authorities' initiatives and challenges. It then identifies lessons from other countries' experience and conducts an econ...

Countercyclical Fiscal Policy and Gender Employment: Evidence from the G-7 Countries1

Countercyclical Fiscal Policy and Gender Employment: Evidence from the G-7 Countries1 »

Source: Countercyclical Fiscal Policy and Gender Employment: Evidence from the G-7 Countries

Volume/Issue: 2019/4

Series: IMF Working Papers

Author(s): Bernardin Akitoby , Jiro Honda , and Hiroaki Miyamoto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 January 2019

ISBN: 9781484390054

Keywords: Italy, Japan, Germany, Europe, Canada, Asia and Pacific, France, United Kingdom, United States, Western Hemisphere

Would countercyclical fiscal policy during recessions improve or worsen the gender employment gap? We give an answer to this question by exploring the state-dependent impact of fiscal spending shocks on employment...

Credit and Fiscal Multipliers in China

Credit and Fiscal Multipliers in China »

Source: Credit and Fiscal Multipliers in China

Volume/Issue: 2017/273

Series: IMF Working Papers

Author(s): Sophia Chen , Lev Ratnovski , and Pi-Han Tsai

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 December 2017

ISBN: 9781484332160

Keywords: Asia and Pacific, China, Macroprudential Policy, Fiscal stimulus, Credit Growth, Multipliers, Comparative or Joint Analysis of Fiscal and Monetary or Stabilization Policy, General, Size and Spatial Distributions of Regional Economic Activity

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 prov...

Credit Booms-Is China Different?1

Credit Booms-Is China Different?1 »

Source: Credit Booms-Is China Different?

Volume/Issue: 2018/2

Series: IMF Working Papers

Author(s): Sally Chen , and Joong Shik Kang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 January 2018

ISBN: 9781484336762

Keywords: Financial crises, Financial cycles, Banking crises, Asia and Pacific, credit gap, debt overhang, sustainable growth, General

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 traject...

Does Import Competition Induce R&D Reallocation? Evidence from the U.S.1

Does Import Competition Induce R&D Reallocation? Evidence from the U.S.1 »

Source: Does Import Competition Induce R&D Reallocation? Evidence from the U.S.

Volume/Issue: 2017/253

Series: IMF Working Papers

Author(s): Rui Xu , and Kaiji Gong

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 November 2017

ISBN: 9781484326008

Keywords: Western Hemisphere, Asia and Pacific, United States, Chinese Import Competition, R&D Expenditures, Reallocation, R&D Expenditures, Country and Industry Studies of Trade, Trade and Labor Market Interactions

We analyze the impact of rising import competition from China on U.S. innovative activities. Using Compustat data, we find that import competition induces R&D expenditures to be reallocated towards more productive...

Does the Stock Market Boost Firm Innovation?

Does the Stock Market Boost Firm Innovation? »

Source: Does the Stock Market Boost Firm Innovation? : Evidence from Chinese Firms

Volume/Issue: 2017/147

Series: IMF Working Papers

Author(s): Hui He , Hanya Li , and Jinfan Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 June 2017

ISBN: 9781484303726

Keywords: China, People's Republic of, Asia and Pacific, China, Corporate governance, IPO, Innovation, Financial Constraint, State Ownership, Firm Behavior: Empirical Analysis, Innovation and Invention: Processes and Incentives

The paper analyses the effect of the stock market on firm innovation through the lens of initial public offering (IPO) using uniquely matched Chinese firm-level data. We find that IPOs lead to an increase in both t...

External Adjustment in a Resource-Rich Economy: The Case of Papua New Guinea

External Adjustment in a Resource-Rich Economy: The Case of Papua New Guinea »

Source: External Adjustment in a Resource-Rich Economy: The Case of Papua New Guinea

Volume/Issue: 2017/267

Series: IMF Working Papers

Author(s): Ryota Nakatani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2017

ISBN: 9781484325063

Keywords: Foreign exchange, Asia and Pacific, Papua New Guinea, Balance of payments, Agricultural exports, Commodity Exporters, Elasticities, Foreign Reserve, Invervention, Cointegration

How should resource-rich economies handle the balance of payments adjustment required after commodity price declines? This paper addresses the question theoretically by developing a simple two-period multi-sector m...

Financial Frictions, Underinvestment, and Investment Composition

Financial Frictions, Underinvestment, and Investment Composition »

Source: Financial Frictions, Underinvestment, and Investment Composition : Evidence from Indian Corporates

Volume/Issue: 2017/134

Series: IMF Working Papers

Author(s): Sonali Das , and Volodymyr Tulin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2017

ISBN: 9781484302644

Keywords: Asia and Pacific, India, Investment, Corporate Leverage, Financial Markets and the Macroeconomy

This paper studies private investment in India against the backdrop of a significant investment decline over the past decade. We analyze the potential causes of weaker investment at the firm level, using both firm-...