کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
962503 930116 2013 17 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
International capital flows and development: Financial openness matters
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
International capital flows and development: Financial openness matters
چکیده انگلیسی
Does capital flow from rich to poor countries? We revisit the Lucas paradox to account for the role of capital account openness. We find that, when accounting for such openness, the prediction of the neoclassical theory is empirically confirmed: among financially open economies, less developed countries tend to experience net capital inflows and more developed countries tend to experience net capital outflows. The results hold also when taking into account private flows, institutions, and numerous controls. We also show that reserve intervention has an effect on the current account only in financially open economies.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of International Economics - Volume 91, Issue 2, November 2013, Pages 235-251
نویسندگان
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