Appendix A: Definitions, Sources and Figures of Data | RDP 9602: Consumption and Liquidity Constraints in Australia and East Asia: Does Financial Integration Matter?

RDP 9602: Consumption and Liquidity Constraints in Australia and East Asia: Does Financial Integration Matter? Appendix A: Definitions, Sources and Figures of Data

Gordon de Brouwer

May 1996

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Indonesia

Consumption: total private expenditure 1983 constant prices, ADB Key Indicators and United Nations National Accounts.

Income: gross domestic product, ADB Key Indicators and United Nations National Accounts, deflated by the total private expenditure deflator.

Inflation: deflator(t)/deflator(t−1)−1 from the total private expenditure deflator.

Population statistics: total population and dependency ratio, World Bank Tables, IEDB Database, ANU; proportion aged 64 and over estimated from Keyfitz and Flieger (1990).

Malaysia

Consumption: total private expenditure 1978 constant prices, ADB Key Indicators and United Nations National Accounts.

Income: gross domestic product, ADB Key Indicators and United Nations National Accounts, deflated by the total private expenditure deflator.

Inflation: deflator(t)/deflator(t−1)−1 from the total private expenditure deflator.

Population statistics: total population and dependency ratio, World Bank Tables, IEDB Database, ANU; proportion aged 64 and over estimated from Keyfitz and Flieger (1990).

Philippines

Consumption: total private expenditure 1985 constant prices, ADB Key Indicators and United Nations National Accounts.

Income: gross domestic product, ADB Key Indicators and United Nations National Accounts, deflated by the total private expenditure deflator.

Inflation: deflator(t)/deflator(t−1)−1 from the total private expenditure deflator.

Population statistics: total population and dependency ratio, World Bank Tables, IEDB Database, ANU; proportion aged 64 and over estimated from Keyfitz and Flieger (1990).

Australia

Consumption: non-durables expenditure and total private expenditure 1990 constant prices, Australian Bureau of Statistics (ABS).

Income: household disposable income, ABS, deflated by the total private expenditure deflator.

Deposit rate: 3-month fixed deposit rate at June, 1960–1990, Reserve Bank of Australia (RBA) Australian Economic Statistics, and from 1991, RBA Bulletin.

Loan rate: maximum overdraft rate at June, 1960–1985, RBA Australian Economic Statistics, and from 1991, small and medium sized business rate, RBA Bulletin.

Money market rate: 26-week T-note rate at June, 1960–1990, RBA Australian Economic Statistics, and from 1991, RBA Bulletin.

Inflation: deflator(t)/deflator(t−1)−1 from the total private expenditure deflator.

Population statistics: RBA Australian Economic Statistics, Table 4.2 and ABS.

Money: currency and deposits with banks (M3), RBA Bulletin.

Credit: consumer credit, other personal credit adjusted for breaks, unpublished series, RBA from 1976, before 1976 calendar years are backcast with financial year growth in housing credit, RBA Australian Economic Statistics.

Residential property prices: established house prices in Australian capital cities, index 1989/90 = 100, RBA unofficial series comprising Treasury unpublished series from 1960 to June 1978, REIA series from September 1978 to June 1986 and ABS official series from September 1986 onwards.

Figure 1: Non-Durable and Total Consumption and Income in Australia

Figure 2: Demographic Change in Australia

Figure 3: Liquidity Constraints in Australia

Hong Kong

Consumption: non-durables expenditure and total private consumption expenditure 1990 constant prices, provided courtesy of the Hong Kong Monetary Authority.

Income: gross domestic product, World Bank Tables, IEDB Database, ANU.

Deposit rate: annual average 6-month deposit rate 1970–1993, Asian Development Bank (ADB) Key Indicators.

Loan rate: commercial bill rate 1970–1993, ADB Key Indicators.

Inflation: deflator(t)/deflator(t−1)−1 from the total private expenditure deflator.

Population statistics: total population and dependency ratio, World Bank Tables, IEDB Database, ANU; proportion aged 64 and over estimated from Keyfitz and Flieger (1990).

Money: currency and deposits with banks (M2+NCDs), ADB Key Indicators.

Figure 4: Non-Durable and Total Consumption and Income in Hong Kong

Figure 5: Demographic Change in Hong Kong

Japan

Consumption: non-durables expenditure and total private expenditure 1985 constant prices, Nikkei database.

Income: household disposable income, Nikkei database, deflated by the total private expenditure deflator.

Deposit rate: annual average 3-month fixed deposit rate, IMF International Financial Statistics.

Loan rate: annual average loan rate, IMF International Financial Statistics.

Money market rate: annual average collateralised overnight call money rate, IMF International Financial Statistics.

Inflation: deflator(t)/deflator(t−1)−1 from the total private expenditure deflator.

Population statistics: Nikkei database.

Money: M2+CDs, IMF International Financial Statistics.

Credit: consumer credit from city and regional banks and mutual loan and saving institutions, Nikkei database.

Residential property prices: residential property prices in Japan, Datastream database.

Figure 6: Non-Durable and Total Consumption and Income in Japan

Figure 8: Liquidity Constraints in Japan

Korea

Consumption: non-durables expenditure and total private expenditure 1990 constant prices, Bank of Korea Annual Statistical Bulletin.

Income: national factor income, Bank of Korea Annual Statistical Bulletin, deflated by the total private expenditure deflator.

Deposit rate: annual average 1-year deposit rate, IMF International Financial Statistics.

Loan rate: annual average curb loan rate, unpublished series, Bank of Korea.

Inflation: deflator(t)/deflator(t−1)−1 from the total private expenditure deflator.

Population statistics: total population and dependency ratio, World Bank Tables, IEDB Database, ANU; proportion aged 64 and over estimated from Keyfitz and Flieger (1990).

Money: currency and deposits with banks, IMF International Financial Statistics.

Credit: household loans, Bank of Korea Annual Statistical Bulletin.

Figure 9: Non-Durable and Total Consumption and Income Growth in Korea

Figure 11: Liquidity Constraints in Korea

Singapore

Consumption: non-durables expenditure and total private expenditure 1985 constant prices, Department of Statistics Singapore.

Income: gross domestic product, Department of Statistics Singapore, deflated by the total private expenditure deflator.

Deposit rate: annual average 6-month fixed deposit rate Singapore Yearbook of Statistics and ADB Key Indicators.

Loan rate: annual average indicator lending rate Singapore Yearbook of Statistics and IMF International Financial Statistics.

Money market rate: annual average 3-month interbank market rate, Singapore Yearbook of Statistics and IMF International Financial Statistics.

Inflation: deflator(t)/deflator(t−1)−1 from the total private expenditure deflator.

Population statistics: total population, World Bank Tables, IEDB Database, ANU; age classifications, Singapore Annual Statistics.

Money: currency and deposits with banks, IMF International Financial Statistics.

Credit: end-year loans to professionals and private individuals, Monetary Authority of Singapore Statistical Bulletin.

Residential property prices: spliced index of average annual residential property prices 1975 to 1993, Singapore Yearbook of Statistics and Monthly Digest of Statistics Singapore, and index of accommodation costs from the CPI 1970 to 1974, Singapore Yearbook of Statistics.

Figure 12: Non-Durable and Total Consumption and Income in Singapore

Figure 13: Demographic Change in Singapore

Figure 14: Liquidity Constraints in Singapore

Taiwan

Consumption: non-durables expenditure and total private expenditure 1991 constant prices, Statistical Yearbook of the Republic of China.

Income: factor income, Statistical Yearbook of the Republic of China, deflated by the total private expenditure deflator.

Deposit rate: end-year 3-month fixed deposit rate Taiwan Statistical Data Book.

Loan rate: end-year secured loan rate Taiwan Statistical Data Book.

Inflation: deflator(t)/deflator(t−1)−1 from the total private expenditure deflator.

Population statistics: Taiwan Statistical Data Book, adjusted for break in 1969.

Money: currency and deposits with banks, IMF International Financial Statistics.

Credit: end-year loans and discounts of all banks to individuals and others, Taiwan Statistical Data Book.

Figure 15: Non-Durable and Total Consumption and Income in Taiwan

Figure 17: Liquidity Constraints in Taiwan

Thailand

Consumption: non-durables expenditure and total private expenditure 1988 constant prices, Statistical Yearbook Thailand, ADB Key Indicators and United Nations National Accounts.

Income: personal disposable income, Statistical Yearbook Thailand, deflated by the total private expenditure deflator.

Deposit rate: annual average 3–6-month fixed deposit rate, Bank of Thailand Monthly Statistical Bulletin and ADB Key Indicators.

Loan rate: annual average maximum lending rate, Bank of Thailand Monthly Statistical Bulletin and ADB Key Indicators.

Money market rate: annual average weighted interbank market rate, Bank of Thailand Monthly Statistical Bulletin.

Inflation: deflator(t)/deflator(t−1)−1 from the total private expenditure deflator.

Population statistics: total population and dependency ratio, World Bank Tables, IEDB Database, ANU; proportion aged 64 and over estimated from Keyfitz and Flieger (1990).

Money: currency and deposits with banks, IMF International Financial Statistics.

Credit: end-year loans for personal consumption, Bank of Thailand Monthly Statistical Bulletin.