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Foreign Capital and Economic Growth
Prasad, Eswar S.; Rajan, Raghuram G.; Subramanian, Arvind - 2021
We document the recent phenomenon of uphill flows of capital from nonindustrial to industrial countries and analyze whether this pattern of capital flows has hurt growth in nonindustrial economies that export capital. Surprisingly, we find that there is a positive correlation between current...
Persistent link: https://www.econbiz.de/10013316680
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The Determinants of China's International Portfolio Equity Allocations
Agarwal, Isha - 2020
We analyze shifts in the structure of China's capital outflows over the past decade. The composition of gross outflows has shifted from accumulation of foreign exchange reserves by the central bank to nonofficial outflows. Unlocking the enormous pool of domestic savings could have a significant...
Persistent link: https://www.econbiz.de/10012840445
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Rebalancing Growth in Asia
Prasad, Eswar S. - 2009
growth rates for the key emerging markets and other developing economies in Asia. China has by far the lowest share of … private consumption to GDP in Asia and, during this decade, has recorded the lowest rate of employment growth relative to GDP … and Vietnam. To examine the global implications of domestic growth patterns in Asia, I analyze saving-investment balances …
Persistent link: https://www.econbiz.de/10013158044
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Migration, International Trade and Capital Formation : Cause or Effect?
Felbermayr, Gabriel J. - 2012
the effects of migration on the accumulation of both knowledge and human capital, by invoking endogenous growth theory …
Persistent link: https://www.econbiz.de/10013098128
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Role Reversal in Global Finance
Prasad, Eswar S. - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2011
I document that emerging markets have cast off their “original sin” – their external liabilitiesare no longer dominated by foreign-currency debt and have instead shifted sharply towardsdirect investment and portfolio equity. Their external assets are increasingly concentrated inforeign...
Persistent link: https://www.econbiz.de/10009522212
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Foreign Capital and Economic Growth
Prasad, Eswar S.; Rajan, Raghuram Govind; Subramanian, … - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007
We document the recent phenomenon of uphill flows of capital from nonindustrial toindustrial countries and analyze whether this pattern of capital flows has hurt growth innonindustrial economies that export capital. Surprisingly, we find that there is a positivecorrelation between current...
Persistent link: https://www.econbiz.de/10005861353
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Role Reversal in Global Finance
Prasad, Eswar S. - 2011
I document that emerging markets have cast off their "original sin" – their external liabilities are no longer dominated by foreign-currency debt and have instead shifted sharply towards direct investment and portfolio equity. Their external assets are increasingly concentrated in foreign...
Persistent link: https://www.econbiz.de/10013119287
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Thresholds in the Process of International Financial Integration
Kose, M. Ayhan - 2009
The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications for growth, especially for developing countries. The empirical literature has not been able to conclusively establish the presumed growth benefits of financial integration....
Persistent link: https://www.econbiz.de/10013160313
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The Role of Demographics in Precipitating Crises in Financial Institutions
Macunovich, Diane - 2009
There are significant effects of changing demographics on economic indicators: growth in GDP especially, but also the current account balance and gross capital formation. The 15-24 age group appears to be one of the key age groups in these effects, with increases in that age group exerting...
Persistent link: https://www.econbiz.de/10013155560
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Southern African Economic Integration : Evidence from an Augmented Gravity Model
Warin, Thierry - 2009
This paper investigates the feasibility of creating a common-currency union consisting of 16 countries in Southern Africa. We estimate an augmented-gravity model that includes public deficit, public debt, public expenditure, inflation, and the foreign reserves position. We also integrate...
Persistent link: https://www.econbiz.de/10013157533