, structural change and institutional shake-up while minimizing the importance of the postwar shock. We show that this shock and …

A surprisingly large number of countries have been able to finance a significant fraction of domestic investment using … important than private finance, we also identify a number of episodes where a substantial fraction of domestic investment was … abruptly with compression of the current account, real exchange rate depreciation, and a sharp slowdown in investment. We …

A surprisingly large number of countries have been able to finance a significant fraction of domestic investment using … investment was financed via private capital inflows. That said, foreign savings are not a good substitute for domestic savings … abruptly with compression of the current account, real exchange rate depreciation, and a sharp slowdown in investment. Summing …

A surprisingly large number of countries have been able to finance a significant fraction of domestic investment using … investment was financed via private capital inflows. That said, foreign savings are not a good substitute for domestic savings … abruptly with compression of the current account, real exchange rate depreciation, and a sharp slowdown in investment. Summing …