000			03062cam a22003377 4500
001			w15169
003			NBER
005			20211020111436.0
006			m o d
007			cr cnu||||||||
008			210910s2009 mau fo 000 0 eng d
100	1		_aPrasad, Eswar S.
245	1	0	_aRebalancing Growth in Asia / _cEswar S. Prasad.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c2009.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w15169
500			_aJuly 2009.
520	3		_aRebalancing growth patterns of Asian economies is an important component of the overall rebalancing effort that will be required in the world economy. In this paper, I provide an empirical characterization of the composition of GDP levels and growth rates for the key emerging markets and other developing economies in Asia. China has by far the lowest share of private consumption to GDP in Asia and, during this decade, has recorded the lowest rate of employment growth relative to GDP growth. Investment growth has dominated GDP growth in China during this decade but is also important in the cases of India and Vietnam. <br> <br>To examine the global implications of domestic growth patterns in Asia, I analyze saving-investment balances, the composition of national savings, and the determinants of the evolution of household saving rates. During 2000-08, household saving rates (relative to household income) have risen gradually in China and India but fallen sharply in Korea. Corporate savings have surged across Asia during this period, becoming the main component of gross national savings in the region. In terms of sheer magnitudes, China's national savings and current account surpluses dominate the region's saving-investment balances. China accounts for just under half of GDP in Asia ex-Japan, but accounts for 60 percent of total gross national savings and nearly 90 percent of the current account surplus of the region. Finally, I discuss some policy implications that come out of the analysis on how to shift the patterns of growth, especially in China, from a welfare-enhancing perspective.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
690		7	_aE2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy _2Journal of Economic Literature class.
690		7	_aF3 - International Finance _2Journal of Economic Literature class.
690		7	_aF4 - Macroeconomic Aspects of International Trade and Finance _2Journal of Economic Literature class.
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w15169.
856	4	0	_uhttps://www.nber.org/papers/w15169
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w15169
942			_2ddc _cW-PAPER
999			_c332952 _d291514