Author: Kang-guk Yi
Publisher:
ISBN:
Category : Capital market
Languages : en
Pages : 220
Book Description
Three Essays on Capital Account Liberalization and Economic Growth
Author: Kang-guk Yi
Publisher:
ISBN:
Category : Capital market
Languages : en
Pages : 220
Book Description
Publisher:
ISBN:
Category : Capital market
Languages : en
Pages : 220
Book Description
Three Essays on Capital Flows, Financial Development, and Economic Growth in Less Developed Countries
Author: Heinz P. Rudolph
Publisher:
ISBN:
Category : Capital movements
Languages : en
Pages : 216
Book Description
Publisher:
ISBN:
Category : Capital movements
Languages : en
Pages : 216
Book Description
Three Essays on Economic Growth and Financial Liberalization
Author: Youngsoo Kim
Publisher:
ISBN:
Category :
Languages : en
Pages : 250
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 250
Book Description
Three Essays On Financial Liberalization And Economic Growth
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Three Essays on Financial Liberalization, Country Risk and Low Growth Traps in Argentina, Mexico and Turkey
Author: Firat Demir
Publisher:
ISBN:
Category : Argentina
Languages : en
Pages : 292
Book Description
Publisher:
ISBN:
Category : Argentina
Languages : en
Pages : 292
Book Description
Three Essays on Capital Markets and Economic Growth
Author: Eric Ofori
Publisher:
ISBN:
Category :
Languages : en
Pages : 256
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 256
Book Description
Three Essays on Economic Growth, International Capital Flows and Country Risk
Author: Hulya Arik
Publisher:
ISBN:
Category :
Languages : en
Pages : 604
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 604
Book Description
Capital Account Liberalization
Author: Peter Blair Henry
Publisher:
ISBN: 9780979037634
Category : Capital
Languages : en
Pages : 82
Book Description
"Writings on the macroeconomic impact of capital account liberalization find few, if any, robust effects of liberalization on real variables. In contrast to the prevailing wisdom, I argue that the textbook theory of liberalization holds up quite well to a critical reading of this literature. The lion's share of papers that find no effect of liberalization on real variables tell us nothing about the empirical validity of the theory, because they do not really test it. This paper explains why it is that most studies do not really address the theory they set out to test. It also discusses what is necessary to test the theory and examines papers that have done so. Studies that actually test the theory show that liberalization has significant effects on the cost of capital, investment, and economic growth"--National Bureau of Economic Research web site.
Publisher:
ISBN: 9780979037634
Category : Capital
Languages : en
Pages : 82
Book Description
"Writings on the macroeconomic impact of capital account liberalization find few, if any, robust effects of liberalization on real variables. In contrast to the prevailing wisdom, I argue that the textbook theory of liberalization holds up quite well to a critical reading of this literature. The lion's share of papers that find no effect of liberalization on real variables tell us nothing about the empirical validity of the theory, because they do not really test it. This paper explains why it is that most studies do not really address the theory they set out to test. It also discusses what is necessary to test the theory and examines papers that have done so. Studies that actually test the theory show that liberalization has significant effects on the cost of capital, investment, and economic growth"--National Bureau of Economic Research web site.
Capital Account Liberalization and Economic Performance
Author: Hali J. Edison
Publisher:
ISBN:
Category : Capital market
Languages : en
Pages : 72
Book Description
This paper reviews the literature on the effects of capital account liberalization and stock market liberalization on economic growth. The various empirical measures used to gauge the presence of controls on capital account transactions as well as indicators of stock market liberalization are discussed. We compare detailed measures of capital account controls that attempt to capture the intensity of enforcement with others that simply capture whether or not controls are present. Our review of the literature shows the contrasting results that have been obtained. These differences may reflect differences in country coverage, sample periods and indicators of liberalization. In order to reconcile these differences, we present new estimates of the effects on growth of capital account liberalization and stock market liberalization. We find some support for a positive effect of capital account liberalization on growth, especially for developing countries.
Publisher:
ISBN:
Category : Capital market
Languages : en
Pages : 72
Book Description
This paper reviews the literature on the effects of capital account liberalization and stock market liberalization on economic growth. The various empirical measures used to gauge the presence of controls on capital account transactions as well as indicators of stock market liberalization are discussed. We compare detailed measures of capital account controls that attempt to capture the intensity of enforcement with others that simply capture whether or not controls are present. Our review of the literature shows the contrasting results that have been obtained. These differences may reflect differences in country coverage, sample periods and indicators of liberalization. In order to reconcile these differences, we present new estimates of the effects on growth of capital account liberalization and stock market liberalization. We find some support for a positive effect of capital account liberalization on growth, especially for developing countries.
Three Essays on Financial Development and Economic Growth
Author: Pilhyun Kim
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 125
Book Description
Abstract: The primary part of my dissertation investigates the potential effects of financial sector development on economic growth. In order to reveal the nature of these effects, I focus on the potential channels of influence from the financial to the real sector. I investigate the link between the financial sector and economic growth focusing on the role of the financial sector in funding innovative activities. To this aim, I construct a model where the economy is driven by innovative activities that require both human capital and external funding. My analysis shows that when certain conditions are satisfied, there exists a unique equilibrium where the growth rate of the economy is jointly determined by the levels of human capital and financial development. An implication of this is that financial liberalization policies that do not adequately address the fundamentals of the economy can cause bank failures and possibly a financial crisis. Furthermore, the model suggests that, depending on the parameter values of the economy, there may be two forms of poverty traps, one with a small number of bankers and the other with a large number of bankers. Also, I examine empirically whether financial development has any effect on the rate of technological innovation using patent applications as a proxy for innovative output. For a sample of twenty eight countries from 1970 to 2000, my analysis shows that financial development is indeed significant in raising the growth rate of innovative output. In addition, I investigate whether financial development enhances investment efficiency. The efficiency channel hypothesis states that financial development may increase the efficiency of investment by directing the funds to the most productive uses. I examine if there is any evidence of financial development positively affecting the efficiency of aggregate investment using developing countries as a sample. Compared to the volume channel, the efficiency channel has received relatively little attention until recently. I address the issue of the efficiency channel using two alternative measures of aggregate investment efficiency. I find that, for developing countries, financial development significantly and positively affects productivity of investment.
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 125
Book Description
Abstract: The primary part of my dissertation investigates the potential effects of financial sector development on economic growth. In order to reveal the nature of these effects, I focus on the potential channels of influence from the financial to the real sector. I investigate the link between the financial sector and economic growth focusing on the role of the financial sector in funding innovative activities. To this aim, I construct a model where the economy is driven by innovative activities that require both human capital and external funding. My analysis shows that when certain conditions are satisfied, there exists a unique equilibrium where the growth rate of the economy is jointly determined by the levels of human capital and financial development. An implication of this is that financial liberalization policies that do not adequately address the fundamentals of the economy can cause bank failures and possibly a financial crisis. Furthermore, the model suggests that, depending on the parameter values of the economy, there may be two forms of poverty traps, one with a small number of bankers and the other with a large number of bankers. Also, I examine empirically whether financial development has any effect on the rate of technological innovation using patent applications as a proxy for innovative output. For a sample of twenty eight countries from 1970 to 2000, my analysis shows that financial development is indeed significant in raising the growth rate of innovative output. In addition, I investigate whether financial development enhances investment efficiency. The efficiency channel hypothesis states that financial development may increase the efficiency of investment by directing the funds to the most productive uses. I examine if there is any evidence of financial development positively affecting the efficiency of aggregate investment using developing countries as a sample. Compared to the volume channel, the efficiency channel has received relatively little attention until recently. I address the issue of the efficiency channel using two alternative measures of aggregate investment efficiency. I find that, for developing countries, financial development significantly and positively affects productivity of investment.