growth as it “opens up” is contingent upon its own peculiarities …

I analyze output growth, volatility, and skewness as the joint outcomes of financial openness. Using an industry panel … of 53 countries over 45 years, I find that financial openness increases simultaneously mean growth and the negative … skewness of the growth process. The increase in output skewness appears to come from a more negatively skewed distribution of …

reduce macroeconomic volatility. The link between macroeconomic volatility and capital account openness in the Greek economy …. There is no strong evidence for a stable relation between macroeconomic volatility and variables of financial openness. Thus …, seem to be related to macroeconomic growth volatility in the Greek economy. …

growth while leaving short term foreign debt and investment in net fixed capital nearly unchanged. This work builds a model … able to derive these facts as the result of greater openness to global goods and financial markets. Emerging countries … generate the observed high ratios of reserves to short term foreign debt to hedge against volatility of foreign capital inflow …

effects in the context of economic growth. The closed-form solution of the terms of trade enables us to derive the plausible …

The textbook neoclassical growth model predicts that countries with faster productivity growth should invest more and … growth model and find that one needs a saving wedge in order to explain the correlation between growth and capital flows …

can be replicated: 1) the persistent US current account deficits since the beginning of the 90’s; 2) growth of output per …) TFP growth in these countries, also relative to the US. The more productive technology takes more time to implement and is … into higher growth. …

development, the following facts can be replicated: 1) persistent current account surpluses and 2) high TFP growth in China. Under …

direct investment on growth through diffusion of technology and innovation. Using an otherwise standard growth regression and … regressions on productivity growth, we introduce a direct effect of foreign direct investment, which may be proxying for … positive effect on productivity growth and on GDP growth. These results are consistent with an open economy model, in which …

While equity market liberalization has been found to be associated with faster economic growth, such a correlation … empirical evidence of strong growth effects of equity market liberalization. Systematic differences exist in the growth effects … high-income and middle-income countries through productivity improvements, while growth instead increases in low …