| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w8414 |
| 来源ID | Working Paper 8414 |
| When Does Capital Account Liberalization Help More than It Hurts? | |
| Carlos Arteta; Barry Eichengreen; Charles Wyplosz | |
| 发表日期 | 2001-08-10 |
| 出版年 | 2001 |
| 语种 | 英语 |
| 摘要 | In this paper we reconsider the evidence on capital account liberalization and growth. While we find indications of a positive association, the effects vary with time, with how capital account liberalization is measured, and with how the relationship is estimated. The evidence that the effects of capital account liberalization are stronger in high-income countries is similarly fragile. There is some evidence that the positive growth effects of liberalization are stronger in countries with strong institutions, as measured by standard indicators of the rule of law, but only weak evidence that the benefits grow with a country's financial depth and development. We find more evidence of a correlation between capital account liberalization and growth when we allow the effect to vary with other dimensions of openness. There are two interpretations of this finding, one in terms of the sequencing of trade and financial liberalization, the other in terms of the need to eliminate major macroeconomic imbalances before opening the capital account. By and large our results support the second interpretation. |
| 主题 | International Economics ; International Factor Mobility |
| URL | https://www.nber.org/papers/w8414 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/566054 |
| 推荐引用方式 GB/T 7714 | Carlos Arteta,Barry Eichengreen,Charles Wyplosz. When Does Capital Account Liberalization Help More than It Hurts?. 2001. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w8414.pdf（191KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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