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While China has been pivotal in discussions and academic research on global imbalances, little is known about macroeconomic external imbalances among Chinese regions and the factors driving them. We use aggregate regional data and estimate provincial total factor productivity growth over...
Persistent link: https://www.econbiz.de/10010402791
The textbook neoclassical growth model predicts that countries with faster productivity growth should invest more and attract more foreign capital. We show that the allocation of capital flows across developing countries is the opposite of this prediction: capital does not flow more to countries...
Persistent link: https://www.econbiz.de/10013134155
In the present contribution, we concentrate on the process of financial liberalization in a specific context of European economic and monetary integration. We implement de facto and de jure measures of financial liberalization and find that formal aspects of financial openness generate a...
Persistent link: https://www.econbiz.de/10013108975
This paper studies the experience of Latin-America [LATAM] with inancial liberalization in the 1990s. The rush towards financial liberalizations in the early 1990s was associated with expectations that external financing would alleviate the scarcity of saving in LATAM, thereby increasing...
Persistent link: https://www.econbiz.de/10014067049
-differential effects of Foreign Direct Investment (FDI) and Domestic Investment (DI) among 41 selected African countries from 1970 to 2017 …. The result of Hausman test shows that PMG estimator is preferred. The study found that FDI and DI are important grease for … growth of African countries in the long-run. The study also found that inflows of FDI crowds-in DI in Africa and that there …
Persistent link: https://www.econbiz.de/10012178170
Recent evidence from developing and emerging economies shows a negative correlation between growth and net capital inflows, a contradiction to neoclassical growth theory. I provide updated and disaggregated evidence on the origins of this puzzle. An analysis of the components of capital flows...
Persistent link: https://www.econbiz.de/10011295656
The pre-eminence of trade and investment in the economic prosperity of developed and developing countries cannot be overemphasized. Many studies have shown a strong positive impact of trade on economic growth across developed and the emerging market. However, very little is known about the...
Persistent link: https://www.econbiz.de/10012023952
direct investment (FDI) across all country groups including LDCs, as well as domestic investment in both developing countries … and attract FDI to unlock their potential, e.g., by active integration into regional and global value chains. …
Persistent link: https://www.econbiz.de/10011845329
The study investigates the relationships between the FDI and economic growth, namely, gross domestic product, export … determining FDI. In the Granger causality sense, foreign direct investment causes GDP. FDI causes GDP in both long run and short … findings of VECM and Granger Causality test that FDI creates a long run relationship with economic growth but in short run no …
Persistent link: https://www.econbiz.de/10012998678
While China has been pivotal in discussions and academic research on global imbalances, little is known about macroeconomic external imbalances among Chinese regions and the factors driving them. We use aggregate regional data and estimate provincial total factor productivity growth over...
Persistent link: https://www.econbiz.de/10013051739