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The Great Rebalancing Act

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  • International Monetary Fund
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    Abstract

    Ensuring stable growth in the postcrisis world economy will require a rebalancing of economic activity in several countries. In Asia’s export-dependent economies, this entails relying more on private domestic demand as a driver of growth. While some countries need to raise consumption, several need to raise investment or reorient it from tradable to nontradable sectors. These changes in investment could be facilitated by financial reforms that enhance domestically oriented firms’ access to credit, stronger incentives for corporate restructuring, policies to bolster the business climate and reduce uncertainty, and by improvements in infrastructure that raise the returns to private investment.

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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=24645
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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 11/35.

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    Length: 28
    Date of creation: 01 Feb 2011
    Date of revision:
    Handle: RePEc:imf:imfwpa:11/35

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    Postal: International Monetary Fund, Washington, DC USA
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    Related research

    Keywords: Infrastructure; Asia; Corporate sector; Private investment; Public-private sector cooperation; capital goods; investment spending; investment rate; venture capital; corporate tax; cost of capital; credit guarantees; capital formation; capital intensity; investors; return on investment; capital markets; fixed capital; capital stock; corporate tax rates; gross fixed capital formation; investment decisions; corporate bond market; public investment; capital ratio; private equity; stock market; tax revenue; capital adequacy; external financing; investment climate; foreign investment; tax rate; capital movements; regulatory framework; securitization; investment by sector; rate of return; fixed assets; corporate tax regime; capital spending; tax policy; investment incentives; nonperforming loans; venture capital markets; tax system; outstanding debt; increasing returns; capital investments; investment flows; corporate tax rate; institutional investors; discounted value; corporate tax revenue; investment fund; capital structure; hedging; securities market; tax regime; investment projects; real effective exchange rate; investment needs; business regulations; capital depreciation; business investment;

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    References

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    1. Straub, Stephane & Vellutini, Charles & Warlters, Michael, 2008. "Infrastructure and economic growth in East Asia," Policy Research Working Paper Series 4589, The World Bank.
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    Cited by:
    1. Konov, Joshua Ioji, 2012. "Market Economy under Rapid Globalization and Rising Productivity," MPRA Paper 48750, University Library of Munich, Germany.

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