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Capital Account Liberalization, Institutions and Financial Development : Cross Country Evidence
Chinn, Menzie D. - 2002
The empirical relationship between capital controls and the financial development of credit and equity markets is examined. We extend the literature on this subject along a number of dimensions. Specifically, we (1) investigate a substantially broader set of proxy measures of financial...
Persistent link: https://www.econbiz.de/10012469747
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The Impact of Trade on Inequality in Developing Countries
Pavcnik, Nina - 2017
This paper assesses the current state of evidence on how international trade shapes inequality and poverty through its …
Persistent link: https://www.econbiz.de/10012453835
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Finance, Inequality, and Poverty : Cross-Country Evidence
Beck, Thorsten - 2004
development disproportionately raises the incomes of the poor and alleviates poverty. Using a broad cross-country sample, we … and poverty alleviation. We find that financial development reduces income inequality by disproportionately boosting the … poverty and income inequality. These results are robust to controlling for other country characteristics and potential reverse …
Persistent link: https://www.econbiz.de/10012467709
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Trade, Inequality, and Poverty : What Do We Know? Evidence from Recent Trade Liberalization Episodes in Developing Countries
Goldberg, Pinelopi K. - 2004
We review the empirical evidence on the relationship between Trade Liberalization, Inequality, and Poverty based on the …
Persistent link: https://www.econbiz.de/10012468100
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Finance, inequality, and poverty : cross-country evidence
Beck, Thorsten - 2004
development disproportionately raises the incomes of the poor and alleviates poverty. Using a broad cross-country sample, we … and poverty alleviation. We find that financial development reduces income inequality by disproportionately boosting the … poverty and income inequality. These results are robust to controlling for other country characteristics and potential reverse …
Persistent link: https://www.econbiz.de/10010522996
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Distinguishing Constraints on Financial Inclusion and Their Impact on GDP, TFP, and Inequality
Dabla-Norris, Era - 2015
We develop a micro-founded general equilibrium model with heterogeneous agents and three dimensions of financial inclusion: access (determined by a participation cost), depth (determined by a borrowing constraint), and intermediation efficiency (determined by a monitoring cost). We find that the...
Persistent link: https://www.econbiz.de/10012457845
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A Pragmatic Approach to Capital Account Liberalization
Prasad, Eswar S. - 2008
Cross-country regressions suggest little connection from foreign capital inflows to more rapid economic growth for developing countries and emerging markets. This suggests that the lack of domestic savings is not the primary constraint on growth in these economies, as implicitly assumed in the...
Persistent link: https://www.econbiz.de/10012464595
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Capital Account Liberalization, Institutional Quality and Economic Growth : Theory and Evidence
Klein, Michael W. - 2005
This paper shows that the effect of capital account liberalization on growth depends upon the environment in which that policy occurs. A theoretical model demonstrates the possibility of an inverted-U shaped relationship between the responsiveness of growth to capital account liberalization and...
Persistent link: https://www.econbiz.de/10012467573
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Capital Account Openness and the Varieties of Growth Experience
Klein, Michael W. - 2003
The effects of capital account openness on economic growth may vary across countries. Some countries may not have in place the constellation of institutions required to fully benefit from open capital accounts. Other countries may realize only small marginal improvements in the wake of capital...
Persistent link: https://www.econbiz.de/10012469202
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Capital Account Liberalization, The Cost of Capital, and Economic Growth
Henry, Peter Blair - 2003
Three things happen when emerging economies open their stock markets to foreign investors. First, the aggregate dividend yield falls by 240 basis points. Second, the growth rate of the capital stock increases by an average of 1.1 percentage points per year. Third, the growth rate of output per...
Persistent link: https://www.econbiz.de/10012469215