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Author/Editor:
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Zhou, Yong Sarah
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Publication Date:
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January 14, 2013
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Electronic Access:
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Free Full text
(PDF file size is 972KB).
Use the free
Adobe Acrobat Reader
to view this PDF file
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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Summary:
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 nontradable sector, and hypothesizes that the slowdown is because firms operating in that sector are financially constrained. Empirical results based on macro and firm-level data from Indonesia, Malaysia, and Thailand (ASEAN-3) support this hypothesis.
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Order a print copy
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Series:
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Working Paper No. 13/13
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Subject(s):
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Credit | Indonesia | Malaysia | Thailand | Asia | Investment | Emerging markets | Association of Southeast Asian Nations | Cross country analysis
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English
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Publication Date:
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January 14, 2013
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ISBN/ISSN:
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9781475533736/2227-8885
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Format:
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Paper
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Stock No:
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WPIEA2013013
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Pages:
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25
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Price:
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US$18.00 )
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Please address any questions about this title to
publications@imf.org
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