Consumption in Developed and Emerging Economies
AbstractIn what follows various econometric technique is applied to determine the source of consumption growth with historical retrospective to equity and real estate markets as well comparative analysis of US consumer and Chinese consumer is presented. Evidence supports the argument that consumption as economic growth engine has been possible only due to ability to withdraw and spend equity from appreciating assets in the USA. Financial underdevelopment of emerging economies makes replication of this process questionable.
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Bibliographic InfoArticle provided by ASERS Publishing in its journal Theoretical and Practical Research in Economic Fields.
Volume (Year): I (2010)
Issue (Month): 2 (December)
Pages: 244 - 253
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Web page: http://www.asers.eu/journals/tpref.html
consumption; household wealth; consumer credit; credit;
Find related papers by JEL classification:
- E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
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