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The paper (i) briefly surveys India‘s policy choices over the reform period with respect to liberalization of the capital account, their underlying rationale and politics, (ii) demonstrates the kinds of capital inflows that resulted; their special characteristics, (iii) assesses the...
Persistent link: https://www.econbiz.de/10011259787
This paper examines the consequences of an asymmetric negative fertility shock on capital formation, saving/investment …
Persistent link: https://www.econbiz.de/10008777398
There have been many attempts to explain the unreasonably high correlation between domestic saving and investment rates … relating to capital mobility in conjunction with the saving-investment relationship. Ho (2003) first applied this method to the … saving-investment puzzle controlling for thresholds in country size. Extending this model, this paper reports a number of …
Persistent link: https://www.econbiz.de/10009151607
From Adam Smith’s perspective, the most prominent macroeconomic happening of the post-World War II period was not the Great Moderation, nor was it the recent Great Recession. Instead, it was the secular deceleration in economic growth occurring in the U.S., or the Great Deceleration. Smith’s...
Persistent link: https://www.econbiz.de/10011258534
that while control/influence is a better indicator of the effectiveness of foreign association through investment in risk … that there is no alternative to have foreign investment, they will have to settle for some tolerable level of foreign …
Persistent link: https://www.econbiz.de/10011258659
This paper reviews the rapidly growing empirical literature on the drivers of capital flows to emerging markets. The empirical evidence is structured based on the recognition that the drivers of capital flows vary over time and across different types of capital flows. The drivers are classified...
Persistent link: https://www.econbiz.de/10011266125
The long run relationship between current account balance (CAB) and capital account balance (KAB) and the repercussions of capital account convertibility (KAC) on growth process of a country is a much debated issue. In particular, in the aftermath of the Southeast Asian crisis, the limitation of...
Persistent link: https://www.econbiz.de/10014194754
From Hume’s discussion of the specie-flow mechanism under the gold standard to the Keynes-Ohlin debate on the transfer problem associated with German reparations after the First World War, understanding the flow of capital across national borders has been central to international economics. My...
Persistent link: https://www.econbiz.de/10005789446
During the early 1990s much has been written about the return of foreign private capital to many of the larger Asian and Latin American countries. However, until 1992 there was little evidence that countries in sub-Saharan Africa were participating in this phenomenon. In this paper we use...
Persistent link: https://www.econbiz.de/10005790051
physical infrastructure and financial development positively affect Foreign Direct Investment (FDI) and portfolio investment in … development for portfolio investment inflows. Lax monetary policy and excessive credit provision could weaken the financial system … and significantly reduce portfolio investment flows. The results also show that for Sub-Saharan African countries, better …
Persistent link: https://www.econbiz.de/10008559017