کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
964335 930511 2008 15 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Capital account liberalization, financial depth, and economic growth
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Capital account liberalization, financial depth, and economic growth
چکیده انگلیسی

We show a statistically significant and economically relevant effect of open capital accounts on financial depth and economic growth in a cross-section of countries over the periods 1986–1995 and 1976–1995. Countries having open capital accounts had a significantly greater increase in financial depth and, over the 20-year period, greater economic growth. These results, however, are largely driven by the developed countries included in the sample. The observed failure of capital account liberalization to promote financial deepening among developing countries suggests potentially important policy implications concerning the desirability of opening up the capital account.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of International Money and Finance - Volume 27, Issue 6, October 2008, Pages 861–875
نویسندگان
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