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Explaining ASEAN-3’s Investment Puzzle A Tale of Two Sectors

The prolonged investment decline in post-Asian crisis emerging Asia, in contrast to the swift recovery of economic growth, has remained a puzzle. This paper shows that the post-crisis investment recession has been mainly concentrated in the nontradable sector, and hypothesizes that the slowdown is b...

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Bibliographic Details
Main Author: Zhou, Yong Sarah
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2013
Series:IMF Working Papers
Subjects:
Economic & Financial Crises & Disasters
Depository Institutions
Government And The Monetary System
Payment Systems
Credit
Investment
Banks
Finance
Financial Crises
Industries: Financial Services
Monetary Economics
Regimes
Financial Institutions
Micro Finance Institutions
Monetary Policy, Central Banking, And The Supply Of Money And Credit: General
Capital And Total Factor Productivity
Cost
Production
Mortgages
Intangible Capital
Money
Standards
Loans
Currencies
Monetary Systems
Money Supply
Bank Credit
Capacity
Financial Risk Management
Capital
Money Multipliers
Money And Monetary Policy
Malaysia
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:The prolonged investment decline in post-Asian crisis emerging Asia, in contrast to the swift recovery of economic growth, has remained a puzzle. This paper shows that the post-crisis investment recession has been mainly concentrated in the nontradable sector, and hypothesizes that the slowdown is because firms operating in that sector are financially constrained. Empirical results based on macro and firm-level data from Indonesia, Malaysia, and Thailand (ASEAN-3) support this hypothesis
Physical Description:25 pages
ISBN:9781475533736

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