Arbeitspapier
Capital inflows, sustained investment surges, and the role of external economies of scale in a developing economy
Standard open economy macro models with unemployment predict a contractionary short-run effect of international capital inflows. Empirical evidence, on the other hand, often associates such inflows with short-term booms, and developing country policy makers frequently go out of their way to welcome foreign capital. Employing a portfolio balance framework, this paper distinguishes between international financial (i.e., bond) and "real" (i.e., equity) flows to explore the different consequences for capital accumulation that may follow over the medium run. The presence of external economies of scale generates multiple equilibria, and different kinds of capital flows may push investment in one direction or the other for sustained periods of time.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 2019-20
- Klassifikation
-
Wirtschaft
International Investment; Long-term Capital Movements
Current Account Adjustment; Short-term Capital Movements
Economic Growth of Open Economies
Macroeconomic Analyses of Economic Development
- Thema
-
Capital flows
economies of scale
investment surges
realexchange rate
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Razmi, Arslan
- Ereignis
-
Veröffentlichung
- (wer)
-
University of Massachusetts, Department of Economics
- (wo)
-
Amherst, MA
- (wann)
-
2019
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Razmi, Arslan
- University of Massachusetts, Department of Economics
Entstanden
- 2019
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