Kenza, Benhima - Départment d'économétrie et d'économie politique … - 2010
Paradoxically, high-growth, high-investment developing countries tend to experience capital outflows. This paper shows … neoclassical growth model with international trade in bonds, and by taking into account not only TFP catch-up, but also the capital … 67 countries between 1980 and 2003: (i) TFP growth is positively correlated with capital outflows in a sample including …