Investment in China : reform and policy

This thesis studies investment activity in China during the post-reform period. The focus is on the determination of investment with a view to identifying its specific financing sources, mechanism, and links with monetary and fiscal policies. The analysis is mainly based on a modified version of the...

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Main Author: Bai, Wenyang
Other Authors: Nanyang Business School
Format: Theses and Dissertations
Language:English
Published: 2011
Subjects:
Online Access:http://hdl.handle.net/10356/42617
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Institution: Nanyang Technological University
Language: English
id sg-ntu-dr.10356-42617
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spelling sg-ntu-dr.10356-426172024-01-12T10:31:55Z Investment in China : reform and policy Bai, Wenyang Nanyang Business School Wang Ruifang DRNTU::Social sciences::Economic development::China This thesis studies investment activity in China during the post-reform period. The focus is on the determination of investment with a view to identifying its specific financing sources, mechanism, and links with monetary and fiscal policies. The analysis is mainly based on a modified version of the flexible accelerator theory of investment. Although our study is exploratory, some clear conclusions have emerged. Econometric evidence indicates that investment in China is positively related to economic growth, the availability of credit, and negatively related to cyclical factors and real interest rates. Meanwhile, the thesis also explores the implications of excessive expansion of investment for macroeconomic stability. Overinvestment, defined as actual investment minus predicted investment, is found to be crucial in determining the short-run output. Master of Business 2011-01-05T05:40:44Z 2011-01-05T05:40:44Z 1998 1998 Thesis http://hdl.handle.net/10356/42617 en 103 p. application/pdf
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
language English
topic DRNTU::Social sciences::Economic development::China
spellingShingle DRNTU::Social sciences::Economic development::China
Bai, Wenyang
Investment in China : reform and policy
description This thesis studies investment activity in China during the post-reform period. The focus is on the determination of investment with a view to identifying its specific financing sources, mechanism, and links with monetary and fiscal policies. The analysis is mainly based on a modified version of the flexible accelerator theory of investment. Although our study is exploratory, some clear conclusions have emerged. Econometric evidence indicates that investment in China is positively related to economic growth, the availability of credit, and negatively related to cyclical factors and real interest rates. Meanwhile, the thesis also explores the implications of excessive expansion of investment for macroeconomic stability. Overinvestment, defined as actual investment minus predicted investment, is found to be crucial in determining the short-run output.
author2 Nanyang Business School
author_facet Nanyang Business School
Bai, Wenyang
format Theses and Dissertations
author Bai, Wenyang
author_sort Bai, Wenyang
title Investment in China : reform and policy
title_short Investment in China : reform and policy
title_full Investment in China : reform and policy
title_fullStr Investment in China : reform and policy
title_full_unstemmed Investment in China : reform and policy
title_sort investment in china : reform and policy
publishDate 2011
url http://hdl.handle.net/10356/42617
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