Utilizing a panel data set for 13 developed economies, this paper examines the volatility of capital flows following the liberalization of financial markets. The paper focuses on the response of foreign direct investment, portfolio flows, and other debt flows to both financial liberalization and...

Utilizing a panel data set for 13 developed economies, this paper examines the volatility of capital flows following the liberalization of financial markets. The paper focuses on the response of foreign direct investment, portfolio flows, and other debt flows to both financial liberalization and...

Previous experimental work has examined the effects of relaxing some assumptions upon which Ricardian equivalence is based. Notably, however, the impact of distortionary taxation on Ricardian equivalence has not been investigated. This paper tests the effects of distortionary versus...