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Causes of Asset Shortages in Emerging Markets


  • Jiaqian Chen
  • Patrick A. Imam


We first illustrate that emerging markets (EMs) face a shortage of financial assets, with financial assets not growing as rapidly as domestic savings. We then estimate the asset shortage in EMs for 1995-2008. We develop a model that explains how asset shortage develop, and then econometrically estimate the causes of asset shortages. We conclude with policy implications.

Suggested Citation

  • Jiaqian Chen & Patrick A. Imam, 2011. "Causes of Asset Shortages in Emerging Markets," IMF Working Papers 11/114, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:11/114

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    Cited by:

    1. Mathieu Grobéty, 2017. "Government Debt and Growth: The Role of Liquidity," Working Papers 2017-13, Swiss National Bank.

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