Haku
Viitteet 1-10 / 18
Causality between credit depth and economic growth: Evidence from 24 OECD countries
(30.04.2015)
BOFIT Discussion Papers 15/2015
BOFIT Discussion Papers 15/2015
Causality between the ratio of domestic private credit to GDP and growth in real GDP per capita is investigated in a country-by-country time-series framework for 24 OECD economies over the period 1980–2013. The proposed ...
Should one follow movements in the oil price or in money supply? Forecasting quarterly GDP growth in Russia with higher-frequency indicators
(30.11.2017)
BOFIT Discussion Papers 19/2017
BOFIT Discussion Papers 19/2017
GDP forecasters face tough choices over which leading indicators to follow and which forecasting models to use. To help resolve these issues, we examine a range of monthly indicators to forecast quarterly GDP growth in a ...
Crony banking and local growth in China
(12.05.2017)
BOFIT Discussion Papers 8/2017
BOFIT Discussion Papers 8/2017
The rise of city commercial banks (CCBs) in Chinese cities provides a unique opportunity to study the finance and growth nexus at the city level. Given the notorious inefficiency of China's “Big Four” state banks, policymakers ...
Risks in China’s financial system
(17.01.2018)
BOFIT Discussion Papers 1/2018
BOFIT Discussion Papers 1/2018
Motivated by growing concerns about the risks and instability of China’s financial system, this article reviews several commonly perceived financial risks and discusses their roots in China’s politico-economic institutions. ...
Should we care? : The economic effects of financial sanctions on the Russian economy
(29.07.2019)
BOFIT Discussion Papers 13/2019
BOFIT Discussion Papers 13/2019
We employ a Bayesian VAR model to estimate the economic effects on the Russian economy from Western financial sanctions imposed in 2014. Sanctions caused a decrease in the amount of out-standing Russian corporate external ...
Does bank liquidity creation contribute to economic growth? Evidence from Russia
(04.03.2015)
BOFIT Discussion Papers 7/2015
BOFIT Discussion Papers 7/2015
The financial crisis has shown that the liquidity creation function of banks is critical for the economy. In this paper, we empirically investigate whether bank liquidity creation fosters economic growth in a large emerging ...
In search of fluctuations : Another look at China’s incredibly stable GDP growth
(27.12.2018)
BOFIT Discussion Papers 23/2018
BOFIT Discussion Papers 23/2018
China’s official real GDP growth has held surprisingly stable in recent years. As national GDP figures influence both policy analysis and political decisions, the GDP growth rate of the massive Chinese economy has also ...
Fixed exchange rate regimes, real undervaluation and economic growth
(10.08.2015)
BOFIT Discussion Papers 23/2015
BOFIT Discussion Papers 23/2015
This paper empirically studies how a fixed exchange rate regime (FERR) may promote economic growth by undermining the Balassa-Samuelson effect. When total factor productivity (TFP) is faster in the industrial sector than ...
One-child policy in China : A unified growth analysis
(29.12.2017)
BOFIT Discussion Papers 22/2017
BOFIT Discussion Papers 22/2017
This paper examines the effects of China's One Child Policy (OCP) in a stylized unified growth model where demographic change plays a central role. Introducing a population constraint into Galor and Weil (2000) model, our ...
Local government debt and economic growth in China
(02.12.2014)
BOFIT Discussion Papers 20/2014
BOFIT Discussion Papers 20/2014
China’s local government debt (LGD) has recently become the focus of economic policy debates. However, information about LGD and its impact on economic growth in the Chinese economy is scarce. This paper attempts to present ...