High Growth and Low Consumption in East Asia : How to Improve Welfare While Avoiding Financial Failures »
Series: IMF Working Papers
Author(s): Celine Rochon , Andrew Feltenstein , and Maral Shamloo
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 December 2007
Keywords: Growth, Financial failures, General equilibrium, fdi, direct investment, foreign direct investment, real interest rates, investors,
This paper analyzes certain policies that are typical of a number of rapidly growing East Asian countries in which a fixed exchange rate, combined with a surplus labor market, has made domestic assets relatively in...