Lucas Paradox in the Long-Run - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Lucas Paradox in the Long-Run write by Bilal Keskinsoy. This book was released on 2017. Lucas Paradox in the Long-Run available in PDF, EPUB and Kindle. This paper investigates international capital flows to developing countries for the period 1970-2006. The study focuses on the empirical puzzle that although one would expect international capital to flow to capital scarce countries where returns are higher, observation shows that capital flows to richer rather than to poorer countries (the Lucas paradox). To explore this, total capital is measured as the sum of foreign direct investment and portfolio equity flows. The paper addresses the argument, based on cross-section evidence (Alfaro et al., 2008, Rev. Econ. Stats), that including the quality of institutions accounts for the paradox (because richer countries have better institutions they attract more capital) and finds that this only holds if developed countries are included; within developing countries, institutions do not account for the paradox. Hence, for a consistent sample of 47 developing countries the positive wealth bias in international capital flows or the Lucas paradox is shown to be a persistent phenomenon in the long run.
International Capital Flows and the Lucas Paradox
International Capital Flows and the Lucas Paradox - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook International Capital Flows and the Lucas Paradox write by Muhammad Akhtaruzzaman. This book was released on 2019-06-21. International Capital Flows and the Lucas Paradox available in PDF, EPUB and Kindle. This book offers a comprehensive analysis of the debates on international capital flows, and presents a new evidence-based answer to the long-standing question of why capital doesn’t tend to flow from rich to poor countries as predicted by standard neoclassical theory – a puzzle known as the Lucas paradox. Further, the book reviews alternative approaches to conventional estimates of the marginal product of capital (MPK) and considers whether these estimates actually help us understand observed international capital flows. A rigorous quantitative approach is subsequently used to provide clear empirical evidence on the determinants of capital flows across borders. The findings of this empirical analysis suggest that generous economic policies on capital account convertibility are more influential than differences in institutional quality in terms of determining international capital flows. In closing, the relative importance of various types of political risk (e.g. expropriation and corruption) is examined. After determining that expropriation risk has one of the greatest effects on foreign direct investment (FDI), the book proposes an appealingly intuitive explanation for the lack of FDI flows to many capital-scarce developing countries.
Global Capital Markets
Global Capital Markets - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Global Capital Markets write by Maurice Obstfeld. This book was released on 2004. Global Capital Markets available in PDF, EPUB and Kindle. This book is an economic survey of international capital mobility from the late nineteenth century to the present.
New Developments in Productivity Analysis
New Developments in Productivity Analysis - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook New Developments in Productivity Analysis write by Charles R. Hulten. This book was released on 2007-11-01. New Developments in Productivity Analysis available in PDF, EPUB and Kindle. The productivity slowdown of the 1970s and 1980s and the resumption of productivity growth in the 1990s have provoked controversy among policymakers and researchers. Economists have been forced to reexamine fundamental questions of measurement technique. Some researchers argue that econometric approaches to productivity measurement usefully address shortcomings of the dominant index number techniques while others maintain that current productivity statistics underreport damage to the environment. In this book, the contributors propose innovative approaches to these issues. The result is a state-of-the-art exposition of contemporary productivity analysis. Charles R. Hulten is professor of economics at the University of Maryland. He has been a senior research associate at the Urban Institute and is chair of the Conference on Research in Income and Wealth of the National Bureau of Economic Research. Michael Harper is chief of the Division of Productivity Research at the Bureau of Labor Statistics. Edwin R. Dean, formerly associate commissioner for Productivity and Technology at the Bureau of Labor Statistics, is adjunct professor of economics at The George Washington University.
EBOOK: Economics, 12e
EBOOK: Economics, 12e - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook EBOOK: Economics, 12e write by David Begg. This book was released on 2019-12-11. EBOOK: Economics, 12e available in PDF, EPUB and Kindle. EBOOK: Economics, 12e
