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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| Format: | Thesis |
| Language: | English |
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2011
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| Online Access: | http://hdl.handle.net/10356/42617 |
| _version_ | 1824455305433448448 |
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| author | Bai, Wenyang |
| author2 | Nanyang Business School |
| author_facet | Nanyang Business School Bai, Wenyang |
| author_sort | Bai, Wenyang |
| collection | NTU |
| 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. |
| first_indexed | 2025-02-19T03:36:06Z |
| format | Thesis |
| id | ntu-10356/42617 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2025-02-19T03:36:06Z |
| publishDate | 2011 |
| record_format | dspace |
| spelling | ntu-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 |
| spellingShingle | DRNTU::Social sciences::Economic development::China Bai, Wenyang Investment in China : reform and policy |
| title | 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_short | Investment in China : reform and policy |
| title_sort | investment in china reform and policy |
| topic | DRNTU::Social sciences::Economic development::China |
| url | http://hdl.handle.net/10356/42617 |
| work_keys_str_mv | AT baiwenyang investmentinchinareformandpolicy |