and investment high. It finds that the low cost of capital has been quantitatively an important factor. Theory predicts … China is to rebalance growth towards relying more on consumption and less on exports and investment, banking sector reforms …

rather than a greater 'effort' to save it. Finally, we find evidence that, while savings during the boom help to increase … post-boom income, the composition of such savings matters. Specifically, in past episodes, savings allocated to foreign … asset accumulation appear to have contributed more to post-boom income than those devoted to domestic investment. …

In this paper, we first introduce investment-specific technology (IST) shocks to an otherwise standard international … relative price of investment to build and estimate these IST processes across the U.S and a "rest of the world" aggregate …

The prolonged investment decline in post-Asian crisis emerging Asia, in contrast to the swift recovery of economic … growth, has remained a puzzle. This paper shows that the post-crisis investment recession has been mainly concentrated in the …

. However, because its investment is predominantly financed by domestic savings, a crisis appears unlikely when assessed against …Now close to 50 percent of GDP, this paper assesses the appropriateness of China’s current investment levels. It … stand out, partly due to a surge in investment over the last decade. Moreover, its investment is significantly higher than …