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Consequences of Asset Shortages in Emerging Markets

We assess econometrically the impact of asset shortages on economic growth, asset bubbles, the probability of a crisis, and the current account for a group of 41 Emerging markets for 1995-2008. The econometric estimations confirm that asset shortages pose a serious danger to EMs in terms of reducing...

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Bibliographic Details
Main Author: Imam, Patrick
Other Authors: Chen, Jiaqian
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2012
Series:IMF Working Papers
Subjects:
Financial Crises
Macroeconomics
Price Level
Emerging And Frontier Financial Markets
Real Interest Rates
Deflation
Capacity
Prices
Finance
Financial Services
Intangible Capital
Financial Markets
Capital Market
Interest Rates
Asset Bubbles
Interest Rates: Determination, Term Structure, And Effects
Inflation
Banks And Banking
Finance: General
Capital Markets
Capital
Economic & Financial Crises & Disasters
Investment
Asset Prices
Money And Interest Rates: General
Financial Risk Management
Financial Services Industry
General Financial Markets: General (includes Measurement And Data)
United States
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:We assess econometrically the impact of asset shortages on economic growth, asset bubbles, the probability of a crisis, and the current account for a group of 41 Emerging markets for 1995-2008. The econometric estimations confirm that asset shortages pose a serious danger to EMs in terms of reducing economic growth, raising the probability of a crisis, and leading to asset price bubbles. Moreover, asset shortages can also explain the current account positions of EMs. The findings suggest that the consequences of asset shortages for macroeconomic stability are significant, and must be tackled urgently. We conclude with policy implications
Physical Description:43 pages
ISBN:9781475502923

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