EconPapers    
Economics at your fingertips  
 

Consequences of asset shortages in emerging markets

Jiaqian Chen and Patrick Imam

Macroeconomics and Finance in Emerging Market Economies, 2014, vol. 7, issue 1, 4-35

Abstract: We assess econometrically the impact of asset shortages on economic growth, asset bubbles, the probability of a crisis, and the current account for a group of 41 emerging markets (EMs) for 1995--2008. The econometric estimations confirm that asset shortages pose a serious danger to EMs in terms of reducing economic growth, raising the probability of a crisis, and leading to asset price bubbles. Moreover, asset shortages can also explain the current account positions of EMs. The findings suggest that the consequences of asset shortages for macroeconomic stability are significant, and must be tackled urgently. We conclude with policy implications.

Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://hdl.handle.net/10.1080/17520843.2013.809007 (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Consequences of Asset Shortages in Emerging Markets (2012) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:macfem:v:7:y:2014:i:1:p:4-35

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/REME20

DOI: 10.1080/17520843.2013.809007

Access Statistics for this article

Macroeconomics and Finance in Emerging Market Economies is currently edited by Subrata Sarkar and Ashima Goyal

More articles in Macroeconomics and Finance in Emerging Market Economies from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().

 
Page updated 2021-07-09
Handle: RePEc:taf:macfem:v:7:y:2014:i:1:p:4-35