Kose, M. Ayhan; Prasad, Eswar; Terrones, Marco E. - Institute for the Study of Labor (IZA) - 2008
Economic theory has identified a number of channels through which openness to international financial flows could raise … productivity growth. However, while there is a vast empirical literature analyzing the impact of financial openness on output … includes various measures of productivity and financial openness for a large sample of countries. We find that de jure capital …