全球智库信息集成服务系统(G2TT): The Return to Capital in Capital-Scarce Countries

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w27675
来源ID	Working Paper 27675
	The Return to Capital in Capital-Scarce Countries
	Anusha Chari; Jennifer S. Rhee
发表日期	2020-08-17
出版年	2020
语种	英语
摘要	In this paper, we use firm-level data to investigate the link between the marginal product of capital and financial rates of return across countries. Computed estimates from financial statement data show that capital-scarce countries display higher marginal products of capital. However, inflation-adjusted financial returns are roughly equal across capital-scarce and capital-abundant countries. The divergence between the marginal products of capital and financial returns implies that there may be little incentive for capital to flow to capital-scarce countries. We suggest that domestic capital-accumulation frictions such as sufficiently large capital adjustment costs can decouple financial rates of return from the marginal product of capital across countries.
主题	Macroeconomics ; Macroeconomic Models ; International Economics ; International Factor Mobility ; Financial Economics ; Financial Markets ; Corporate Finance ; Development and Growth ; Development
URL	https://www.nber.org/papers/w27675
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/585347
推荐引用方式 GB/T 7714	Anusha Chari,Jennifer S. Rhee. The Return to Capital in Capital-Scarce Countries. 2020.

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
w27675.pdf（950KB）	智库出版物		限制开放	CC BY-NC-SA	浏览