登入選單

返回Google圖書搜尋

Consumption-Led Expansions

Enisse Kharroubi

出版	SSRN, 2017
URL	http://books.google.com.hk/books?id=X1H6zgEACAAJ&hl=&source=gbs_api

註釋

GDP growth has increasingly been led by consumption. However, consumption-led expansions tend to be significantly weaker than when growth is driven by other components of aggregate demand, often because of the build-up of imbalances. We show that while factors such as credit growth and rising house prices can boost consumption in the short run, the incidence of consumption-led growth and rising debt service ratios significantly dampen growth in the medium to long run. Policies that address the build-up of imbalances and strengthen investment are therefore central to fostering durable growth.