Since 1950, the economies of East Asia grew rapidly but received little inter-national capital, while Latin America received considerable international capitaleven as their economies stagnated. The literature typically explains the failureof capital to flow to high growth regions as resulting...

The relationship between foreign capital flows and productivity is still puzzling. We extend the literature on the effect of foreign private capital flows on productivity growth by investigating the effects of the flows across heterogeneous recipient sectors, using a unique hand-collected...

Since 1950, the economies of East Asia grew rapidly but received little international capital, while Latin America received considerable international capital even as their economies stagnated. The literature typically explains the failure of capital to flow to high growth regions as resulting...