Title

High Growth and Low Consumption in East Asia: How to Improve Welfare While Avoiding Financial Failures

Andrew Feltenstein, CĂ©line Rochon, and Maral Shamloo

High Growth and Low Consumption in East Asia: How to Improve Welfare While Avoiding Financial Failures

This paper analyzes certain policies that are typical of a number of rapidly growing East Asian countries in which a fixed exchange rate, combined with a surplus labor market, has made domestic assets relatively inexpensive, generating high rates of FDI as well as domestic capital formation. This...
Topics: 
Economy