Razin, Assaf; Sadka, Efraim - Volkswirtschaftliche Fakultät, … - 2006
Economists tend to favor the free ow of capital across national borders, because it allows capital to seek out the highest rate of return. Unrestricted capital ows may also o¤er several advantages, as noted by Feldstein (2000). First, international ows reduce the risk faced by owners of capital...