International Capital Flows And Development
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International Capital Flows
Author | : Martin Feldstein |
Publsiher | : University of Chicago Press |
Total Pages | : 500 |
Release | : 2007-12-01 |
Genre | : Business & Economics |
ISBN | : 9780226241807 |
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Recent changes in technology, along with the opening up of many regions previously closed to investment, have led to explosive growth in the international movement of capital. Flows from foreign direct investment and debt and equity financing can bring countries substantial gains by augmenting local savings and by improving technology and incentives. Investing companies acquire market access, lower cost inputs, and opportunities for profitable introductions of production methods in the countries where they invest. But, as was underscored recently by the economic and financial crises in several Asian countries, capital flows can also bring risks. Although there is no simple explanation of the currency crisis in Asia, it is clear that fixed exchange rates and chronic deficits increased the likelihood of a breakdown. Similarly, during the 1970s, the United States and other industrial countries loaned OPEC surpluses to borrowers in Latin America. But when the U.S. Federal Reserve raised interest rates to control soaring inflation, the result was a widespread debt moratorium in Latin America as many countries throughout the region struggled to pay the high interest on their foreign loans. International Capital Flows contains recent work by eminent scholars and practitioners on the experience of capital flows to Latin America, Asia, and eastern Europe. These papers discuss the role of banks, equity markets, and foreign direct investment in international capital flows, and the risks that investors and others face with these transactions. By focusing on capital flows' productivity and determinants, and the policy issues they raise, this collection is a valuable resource for economists, policymakers, and financial market participants.
International Capital Flows and Development
Author | : Mr.Thierry Tressel,Dennis B. S. Reinhardt,Mr.Luca Antonio Ricci |
Publsiher | : International Monetary Fund |
Total Pages | : 46 |
Release | : 2010-10-01 |
Genre | : Business & Economics |
ISBN | : 9781455209354 |
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Does capital flow from rich to poor countries? We revisit the Lucas paradox and explore the role of capital account restrictions in shaping capital flows at various stages of economic development. We find that, when accounting for the degree of capital account openness, the prediction of the neoclassical theory is confirmed: less developed countries tend to experience net capital inflows and more developed countries tend to experience net capital outflows, conditional of various countries’ characteristics. The findings are driven by foreign direct investment, portfolio equity investment, and to some extent by loans to the private sector.
International Capital Flows and the Lucas Paradox
Author | : Muhammad Akhtaruzzaman |
Publsiher | : Springer |
Total Pages | : 203 |
Release | : 2020-08-14 |
Genre | : Business & Economics |
ISBN | : 9811390711 |
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This book offers a comprehensive analysis of the debates on international capital flows, and presents a new evidence-based answer to the long-standing question of why capital doesn’t tend to flow from rich to poor countries as predicted by standard neoclassical theory – a puzzle known as the Lucas paradox. Further, the book reviews alternative approaches to conventional estimates of the marginal product of capital (MPK) and considers whether these estimates actually help us understand observed international capital flows. A rigorous quantitative approach is subsequently used to provide clear empirical evidence on the determinants of capital flows across borders. The findings of this empirical analysis suggest that generous economic policies on capital account convertibility are more influential than differences in institutional quality in terms of determining international capital flows. In closing, the relative importance of various types of political risk (e.g. expropriation and corruption) is examined. After determining that expropriation risk has one of the greatest effects on foreign direct investment (FDI), the book proposes an appealingly intuitive explanation for the lack of FDI flows to many capital-scarce developing countries.
International Capital Flows and Development
Author | : Dennis Reinhardt,Luca Antonio Ricci,Thierry Tressel |
Publsiher | : Unknown |
Total Pages | : 135 |
Release | : 2013 |
Genre | : Electronic Book |
ISBN | : OCLC:851540702 |
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Capital Flows to Developing Countries and the Reform of the International Financial System
Author | : Yilmaz Akyüz,Andrew J. Cornford |
Publsiher | : Unknown |
Total Pages | : 76 |
Release | : 2000 |
Genre | : Capital movements |
ISBN | : STANFORD:36105112847707 |
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Development Centre Studies Capital Flows and Investment Performance Lessons from Latin America
Author | : French-Davis Ricardo,Reisen Helmut |
Publsiher | : OECD Publishing |
Total Pages | : 240 |
Release | : 1998-10-09 |
Genre | : Electronic Book |
ISBN | : 9789264163454 |
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This book, the result of a joint project between the OECD Development Centre and the UN Economic Commission for Latin America and the Caribbean (ECLAC), examines the policies of a group of major Latin American countries faced with large inflows.
Capital Flows and Growth in Developing Countries
Author | : Marcelo Soto |
Publsiher | : Unknown |
Total Pages | : 40 |
Release | : 2000 |
Genre | : Capital movements |
ISBN | : UCSD:31822031513591 |
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International Capital Flows and the Lucas Paradox
Author | : Muhammad Akhtaruzzaman |
Publsiher | : Springer |
Total Pages | : 203 |
Release | : 2019-06-21 |
Genre | : Business & Economics |
ISBN | : 9789811390692 |
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This book offers a comprehensive analysis of the debates on international capital flows, and presents a new evidence-based answer to the long-standing question of why capital doesn’t tend to flow from rich to poor countries as predicted by standard neoclassical theory – a puzzle known as the Lucas paradox. Further, the book reviews alternative approaches to conventional estimates of the marginal product of capital (MPK) and considers whether these estimates actually help us understand observed international capital flows. A rigorous quantitative approach is subsequently used to provide clear empirical evidence on the determinants of capital flows across borders. The findings of this empirical analysis suggest that generous economic policies on capital account convertibility are more influential than differences in institutional quality in terms of determining international capital flows. In closing, the relative importance of various types of political risk (e.g. expropriation and corruption) is examined. After determining that expropriation risk has one of the greatest effects on foreign direct investment (FDI), the book proposes an appealingly intuitive explanation for the lack of FDI flows to many capital-scarce developing countries.