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This paper examines the Lucas Paradox and the Allocation Puzzle of international capital flows referring to a panel data set of EMU countries and major industrialized and emerging economies. Overall, the results do not provide evidence in favour of the Lucas Paradox and the Allocation Puzzle....
Persistent link: https://www.econbiz.de/10010359511
Does capital flow from rich to poor countries? We revisit the Lucas paradox and explore the role of capital account restrictions in shaping capital flows at various stages of economic development. We find that, when accounting for the degree of capital account openness, the prediction of the...
Persistent link: https://www.econbiz.de/10009569603
This paper applies a probit estimation to assess the relationship between economic takeoffs during 1950- 2000 and inflows of portfolio debt, portfolio equity, and FDI, controlling for country's stock of short-term external debt and commodity terms of trade. Average level of FDI inflows is...
Persistent link: https://www.econbiz.de/10009270029
This paper applies a probit estimation to assess the relationship between economic takeoffs during 1950-2000 and inflows of portfolio debt, portfolio equity, and FDI, controlling for country's stock of short-term external debt and commodity terms of trade. Average level of FDI inflows is...
Persistent link: https://www.econbiz.de/10009272046
securities. We also estimate "pent-up" demand for US securities in developing countries -- like China, Argentina, Turkey and …
Persistent link: https://www.econbiz.de/10010515955
Understanding the determinants of capital inflows is essential to designing an effective policy framework to manage volatile capital flows and their disruptive potential. This paper aims to identify factors that explain the size and volatility of various types of capital flows to developing Asia...
Persistent link: https://www.econbiz.de/10011283420
Legal restrictions on international capital movements are imposed in many countries in an attempt to (partially) insulate their economies from abroad and pursue some degree of domestic policy independence. But is the imposition of capital controls effective in achieving these goals? We...
Persistent link: https://www.econbiz.de/10003854622
The EU has recently entered accession talks with five transition economies of eastern Europe. Membership in the EU would require inter alia the full liberalization of capital flows. This paper provides empirical evidence on the openness towards foreign capital that the accession states have...
Persistent link: https://www.econbiz.de/10011474898
Similar to Chile in the 1990s, Slovenia has introduced an unremunerated reserve requirement (URR) on financial credits …
Persistent link: https://www.econbiz.de/10011475657
Capital mobility is helpful to cope with the loss of adjustment instruments in EMU. High capital mobility in the sense of Feldstein and Horioka (FH) can limit the negative consequences of shocks affecting the saving capacity of an economy in the Eurozone. It is the aim of this paper to assess...
Persistent link: https://www.econbiz.de/10011442627