International Capital Flows and Development : Financial Openness Matters

Financial Openness Matters

International Capital Flows and Development : Financial Openness Matters
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 neoclassical theory is confirmed: less developed... READ MORE...

Publication date: October 2010
ISBN 9781455209354
$18.00

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