000			04046cam a2200661Ki 4500
001			on1020029351
003			OCoLC
005			20240829102806.0
006			m d
007			cr |||||||||||
008			180120t20172017dcu o 000 0 eng d
040			_aEBLCP _beng _epn _cEBLCP _dCUY _dMERUC _dCEF _dYDX _dOTZ _dOCLCQ _dN$T _dOCLCF _dCUS
019			_a1020000108
020			_a1484332210
020			_a1484332164
020			_a9781484332160
020			_a9781484332214 _q(electronic bk.)
024	7		_a10.5089/9781484332160.001 _2doi
035			_a1687292 _b(N$T)
035			_a(OCoLC)1020029351 _z(OCoLC)1020000108
043			_aa-cc---
050		4	_aHG3754.5.C6 _bC54 2017
072		7	_aBUS _x027000 _2bisacsh
082	0	4	_a332.70951 _223
049			_aMAIN
100	1		_aChen, Sophia, _d1980- _eauthor. _9989738
245	1	0	_aCredit and fiscal multipliers in China / _cby Sophia Chen, Lev Ratnovski, and Pi-Han Tsai.
264		4	_c©2017
264		1	_a[Washington, D.C.] : _bInternational Monetary Fund, _c[2017]
300			_a1 online resource (27 pages).
336			_atext _btxt _2rdacontent
337			_acomputer _bc _2rdamedia
338			_aonline resource _bcr _2rdacarrier
490	1		_aIMF Working Paper ; _vWP/17/273
505	0		_aCover; Contents; I. Introduction; II. Data and method; III. Results; A. Credit and fiscal multipliers; B. Robustness; C. Industry composition; D. Discussion on â#x80;#x9C;open economy multipliersâ#x80;#x9D;; IV. Conclusion; Figure; Figure 1. The correlation of bank loans and TSF growth; Figure 2. Appointments of provincial party secretaries; Figure 3. Credit and expenditure growth over the tenure of provincial party secretaries; Figure 4. Sensitivity to other provincesâ#x80;#x99; stimulus policies over the tenure of provincial secretaries; Table; Table 1. Summary statistics.
505	8		_aTable 2. Appointments of party secretaries and provincial economic conditionsTable 3. Full sample results; Table 4. Early and late subsamples results; Table 5. Weighted results; Table 6. Sectoral multipliers; References.
520	3		_aWe jointly estimate credit and fiscal multipliers in China. We use the tenure of the provincial party secretary, interacted with the type of stimulus used in other provinces, to obtain separate instruments for provincial credit and government expenditure. We estimate a fiscal multiplier of 0.8 and a credit multiplier of 0.2 in 2001-2015. The multipliers have changed over time. The fiscal multiplier has increased from 0.75 in 2001-2008 to 1.4 in 2010-2015. The credit multiplier has declined from 0.17 to zero over the same periods. Our results suggest that reducing credit growth in China is unlikely to disrupt output growth, whereas fiscal policy may be effective in supporting macroeconomic adjustment.
588	0		_aPrint version record.
590			_aMaster record variable field(s) change: 050
650		0	_aCredit _zChina. _9573721
650		0	_aFiscal policy _zChina _xEconometric models. _9989739
651		0	_aChina _xEconomic conditions _xEconometric models. _9989740
650		7	_aBUSINESS & ECONOMICS / Finance. _2bisacsh _9195626
650		7	_aCredit. _2fast _0(OCoLC)fst00882525 _9117860
650		7	_aEconomic history. _2fast _0(OCoLC)fst00901974 _95641
650		7	_aFiscal policy _xEconometric models. _2fast _0(OCoLC)fst00925810 _9424850
651		7	_aChina. _2fast _0(OCoLC)fst01206073 _9109374
655		4	_aElectronic books. _9396
700	1		_aRatnovski, Lev, _eauthor. _9654313
700	1		_aTsai, Pi-Han, _eauthor. _9989741
776	0	8	_iPrint version: _aChen, Sophia. _tCredit and Fiscal Multipliers in China. _dWashington, D.C. : International Monetary Fund, ©2017 _z9781484332160
830		0	_aIMF working paper ; _vWP/17/273.
856	4	0	_3EBSCOhost _uhttps://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=1687292
938			_aEBL - Ebook Library _bEBLB _nEBL5218563
938			_aYBP Library Services _bYANK _n15098206
938			_aEBSCOhost _bEBSC _n1687292
994			_a92 _bN$T
999			_c665849 _d665849