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Capital account liberalization, institutional quality, and economic growth theory and evidence
| Content Provider | Library of Congress - Books/Printed Material |
|---|---|
| Author | Klein, Michael W. |
| Temporal Coverage | 2005 |
| Copyright Year | 2005 |
| Abstract | "This paper shows that the effect of capital account liberalization on growth depends upon the environment in which that policy occurs. A theoretical model demonstrates the possibility of an inverted-U shaped relationship between the responsiveness of growth to capital account liberalization and institutional quality. Three empirical specifications based on the model are estimated using a panel of 71 countries. Estimates of all three specifications support the hypothesis of a non-monotonic interaction between the responsiveness of growth to capital account liberalization and institutional quality, with about one-quarter of the countries, those with better (but not the best) institutions exhibiting a statistically significant and economically meaningful effect of capital account openness on economic growth"--National Bureau of Economic Research web site. |
| Language | English |
| Publisher | National Bureau of Economic Research |
| Publisher Place | Cambridge, MA |
| Part of Series | Catalog |
| Requires | HTML5 supported browser |
| Access Restriction | Open |
| Subject Keyword | Capital Movements Economic Development Fiscal Policy Mathematical Models |
| Subject Domain (in LCSH) | Capital movements--Mathematical models |
| Subject Domain (in LCSH) | Fiscal policy--Mathematical models |
| Subject Domain (in LCSH) | Economic development--Mathematical models |
| Subject Domain (in LCC) | HB1 |
| Content Type | Text |
| Resource Type | Book |
