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

Young Joon Park; Dong Eun Rhee

doi:10.1162/ASEP_a_00196

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

Research output: Contribution to journal › Article › peer-review

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 language	English
Pages (from-to)	141-162
Number of pages	22
Journal	Asian Economic Papers
Volume	12
Issue number	1
DOIs	https://doi.org/10.1162/ASEP_a_00196
Publication status	Published - 2013 Jan
Externally published	Yes

ASJC Scopus subject areas

Finance
Economics and Econometrics
Political Science and International Relations

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10.1162/ASEP_a_00196

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

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