When Fast-Growing Economies Slow Down: International Evidence and Implications for China
- Authors
- Eichengreen, Barry; Park, Donghyun; Shin, Kwanho
- Issue Date
- 2012
- Publisher
- MIT PRESS
- Citation
- ASIAN ECONOMIC PAPERS, v.11, no.1, pp.42 - 87
- Indexed
- SSCI
SCOPUS
- Journal Title
- ASIAN ECONOMIC PAPERS
- Volume
- 11
- Number
- 1
- Start Page
- 42
- End Page
- 87
- URI
- https://scholar.korea.ac.kr/handle/2021.sw.korea/110878
- DOI
- 10.1162/ASEP_a_00118
- ISSN
- 1535-3516
- Abstract
- Using international data starting in 1957, we construct a sample of cases where fast-growing economies slow down. The evidence suggests that rapidly growing economies slow down significantly, in the sense that the growth rate downshifts by at least 2 percentage points, when their per capita incomes reach around US$ 17,000 in year-2005 constant international prices, a level that China should achieve by or soon after 2015. Among our more provocative findings is that growth slowdowns are more likely in countries that maintain undervalued real exchange rates.
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Collections - College of Political Science & Economics > Department of Economics > 1. Journal Articles
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