Macroeconomic effects of the CGIF scheme using a multi-country dynamic general equilibrium model

Young Joon Park, Dong Eun Rhee

Research output: Contribution to journalArticle

Abstract

As a regional credit mechanism, the Credit Guarantee Investment Facility (CGIF) has been developed in East Asia, and its first credit guarantee is on the cards in 2012. This paper analyzes the potential macroeconomic benefits from CGIF on the basis of simulated scenarios using an ASEAN+3 version of the Global Integrated Monetary and Fiscal model. The results show that even if CGIF enhances several, but not all, of the ASEAN+3 members' credit fundamentals, it helps increase not only the credit-beneficiary countries' investment and real GDP, but also those of the other ASEAN+3 countries.

Original languageEnglish
Pages (from-to)141-162
Number of pages22
JournalAsian Economic Papers
Volume12
Issue number1
DOIs
Publication statusPublished - 2013 Jan

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics
  • Political Science and International Relations

Fingerprint Dive into the research topics of 'Macroeconomic effects of the CGIF scheme using a multi-country dynamic general equilibrium model'. Together they form a unique fingerprint.

  • Cite this