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The Output Decline in Asian Crisis Countries Investment Aspects

This paper examines whether capital outflows may have contributed to output declines during the Asian Crisis by reducing the financing available for domestic investment. Panel data regressions suggest a positive, short-term relationship between net capital inflows and investment during the period be...

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Bibliographic Details
Main Author: Greene, Joshua
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2002
Series:IMF Working Papers
Subjects:
Monetary Policy, Central Banking, And The Supply Of Money And Credit: General
Money And Monetary Policy
Credit
Investments: General
Open Economy Macroeconomics
Saving And Investment
International Economics
Capital Movements
Money
Forecasting And Simulation: Models And Applications
Capacity
Long-term Capital Movements
National Accounts
Monetary Economics
Capital Flows
Private Investment
Financial Markets And The Macroeconomy
Private Capital Flows
Intangible Capital
Macroeconomics
Balance Of Payments
Investment
Capital
Bank Credit
Exports And Imports
Macroeconomics: Production
Capital Inflows
International Investment
Thailand
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper examines whether capital outflows may have contributed to output declines during the Asian Crisis by reducing the financing available for domestic investment. Panel data regressions suggest a positive, short-term relationship between net capital inflows and investment during the period before 1997 in five Asian countries once real net capital flows are netted out from real flows of private bank credit. In addition, net real private inflows and real private investment appear to have been cointegrated in at least three of these countries, suggesting a long-term relationship as well
Physical Description:24 pages
ISBN:9781451844276

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