“excessive” and hence constitute a valid concern. The second objective is to assess the degree of capital mobility by comparing … of capital mobility was quite high, even during the post-1997 period. The variance ratio of the actual current account to … suggest inappropriate use of capital flows over the entire sample period under investigation. Originality/value – The authors …

-run capital flows in both theory and in the data. For this purpose, we develop a two region overlapping generations model where … transfer schemes tend to have lower saving and more capital inflows over the long-run, this effect may be dampened by natural …

accounting for the home-country bias found in international capital markets. Disaggregating investment we find that young cohorts …

Recent empirical evidence shows that gross official capital transactions flow upstream in the international financial … accumulating foreign reserves. We argue that government intervention in the capital market has led to forced saving in these …