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RR-98-07.pdf

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/60448 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/60448 http://eprints.org/relation/isIndexCodesVersionOf https://pure.iiasa.ac.at/id/document/60448 archive 351 disk0/00/00/56/59 2016-01-15 02:10:36 2021-08-27 17:16:34 2016-01-15 02:10:36 monograph show 2 Sun L. 1681 pub iis_ecn prog_luc In the Chinese context, a persistent tension exists between system-generated investment ambitions and both the supply and the distributive barriers to these ambitions. This holds for both pre- and post-reform periods and across significant policy changes. As a result, the long-term investment function is characterized by equilibrium comovement among real fixed investment levels, grain output per capita as representative of necessary consumer goods, and effective energy supply per capita as representative of basic producer goods. A large part of the cyclical pattern of investment growth can be explained by the adjustment to the comovement path and by the relevant changes in energy supply and agricultural output. 1998 published RR-98-007. Reprinted from Journal of Comparative Economics, 26(1):175-191 [March 1998]. RP-98-007 Reprinted from Journal of Comparative Economics; 26(1):175-191 [March 1998] 10 302 public research_reprint Journal of Comparative Economics 26 1 IIASA, Laxenburg, Austria 175-191 20 TRUE FALSE info:eu-repo/semantics/book