UID:
almafu_9958091093902883
Format:
1 online resource (20 p.)
ISBN:
9781475553604
,
1475553609
,
9781475581812
,
1475581815
Series Statement:
IMF Working Papers
Content:
This paper analyzes the evolution of investment in China, its main features, and its key determinants. In recent years, manufacturing, real estate, and infrastructure have been the main drivers of investment. Investment remains largely concentrated in coastal areas, but there has been a shift to greater investments inland in recent years. The empirical analysis of the determinants of investment indicates that financial variables, such as interest rates, the exchange rate, and the depth of the domestic capital market are important determinants of corporate investment. The results suggest in particular that financial sector reform, including that which deregulates and raises real interest rates as well as appreciates the real effective exchange rate, would lower investment and help rebalance growth away from exports and investment toward private consumption.
Note:
Description based upon print version of record.
,
Cover; Contents; I. Introduction; II. Evolution of Investment; A. Who is investing?; B. Which sectors are enterprises investing in?; C. Which regions are enterprises investing in?; D. How is investment financed?; E. Implications for corporate savings; III. Cost of Capital; IV. Empirical Determinants of Investments; Tables; Table 1. Determinants of Corporate Investment (Evidence from Firm Level Data); Table 2. Determinant of Investment (Evidence from Aggregate Data); V. Conclusion; References; Appendix: Data Definition; Table A1. Distribution of Firms
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Table A2. The breakdown of Chinese listed firms by industryTable A3. Breakdown of Chinese Listed Firms by Actual Ownership
,
English
Additional Edition:
ISBN 9781475587715
Additional Edition:
ISBN 1475587716
Additional Edition:
ISBN 9781475502329
Additional Edition:
ISBN 147550232X
Language:
English
