A pragmatic approach to capital account liberalization

Arbeitspapier

Cross-country regressions suggest little connection from foreign capital inflows to more rapid economic growth for developing countries and emerging markets. This suggests that the lack of domestic savings is not the primary constraint on growth in these economies, as implicitly assumed in the benchmark neoclassical framework. We explore emerging new theories on both the costs and benefits of capital account liberalization, and suggest how one might adopt a pragmatic approach to the process.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: IZA Discussion Papers ; No. 3475

Classification and Topics

• Classification: Wirtschaft
• Subject: Capital account liberalization ; capital controls ; collateral benefits ; thresholds ; Kapitalmobilität ; Kapitalmarktliberalisierung ; Sparen ; Wirtschaftswachstum ; Entwicklungsländer ; Aufstrebende Märkte

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Prasad, Eswar S. ; Rajan, Raghuram G.
• Event: Veröffentlichung
• (who): Institute for the Study of Labor (IZA)
• (where): Bonn
• (when): 2008

Further information

• Handle: http://hdl.handle.net/10419/35252
• URN: urn:nbn:de:101:1-2008050216
• Last update: 10.03.2025, 11:45 AM CET