Are Capital Flows Consistent With The Neoclassical Growth Model PDF Download
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Author | : Stefano MANZOCCHI |
Publisher | : |
Total Pages | : |
Release | : 1996 |
Genre | : |
ISBN | : |
Download ARE CAPITAL FLOWS CONSISTENT WITH THE NEOCLASSICAL GROWTH MODEL? EVIDENCE FORM A CROSS-SECTION OF DEVELOPING COUNTRIES Book in PDF, ePub and Kindle
Author | : Stefano Manzocchi |
Publisher | : |
Total Pages | : 23 |
Release | : 1996 |
Genre | : Capital movements |
ISBN | : |
Download Are Capital Flows Consistent with the Neoclassical Growth Model? Book in PDF, ePub and Kindle
Author | : Mr.Michael Sarel |
Publisher | : International Monetary Fund |
Total Pages | : 34 |
Release | : 1994-11-01 |
Genre | : Business & Economics |
ISBN | : 1451855958 |
Download On the Dynamics of Economic Growth Book in PDF, ePub and Kindle
This paper examines the dynamics of economic growth. First, it demonstrates that the standard neoclassical growth model with constant elasticity of intertemporal substitution is not consistent with the patterns of development we observe in the real world, once we consider the initial conditions. Second, it examines an alternative growth model, which is consistent with endogenously determined initial conditions and also generates dynamics that are in accord with the historical patterns of growth rates, capital flows, savings rates and labor supply. The alternative model is a generalized version of the neoclassical growth model, with increasing rates of intertemporal substitution due to a Stone-Geary type of utility.
Author | : Mr.Thierry Tressel |
Publisher | : International Monetary Fund |
Total Pages | : 46 |
Release | : 2010-10-01 |
Genre | : Business & Economics |
ISBN | : 145520935X |
Download International Capital Flows and Development Book in PDF, ePub and Kindle
Does capital flow from rich to poor countries? We revisit the Lucas paradox and explore the role of capital account restrictions in shaping capital flows at various stages of economic development. We find that, when accounting for the degree of capital account openness, the prediction of the neoclassical theory is confirmed: less developed countries tend to experience net capital inflows and more developed countries tend to experience net capital outflows, conditional of various countries’ characteristics. The findings are driven by foreign direct investment, portfolio equity investment, and to some extent by loans to the private sector.
Author | : Mr.Harm Zebregs |
Publisher | : International Monetary Fund |
Total Pages | : 29 |
Release | : 1999-09-01 |
Genre | : Business & Economics |
ISBN | : 1451854889 |
Download Long-Term International Capital Movements and Technology Book in PDF, ePub and Kindle
This paper reviews the theoretical literature on the question of how long-term international capital movements depend on the international distribution of technology. It focuses on long-term investment flows, as these are more affected by international differences in technologies than short-term financial flows. International capital movements are investigated in the context of various technology specifications, ranging from models with only one common technology to those with multiple and endogenous technologies. The paper demonstrates that the theoretical specification of technology is crucial to the prediction of the size and direction of international capital movements.
Author | : Michael Sarel |
Publisher | : |
Total Pages | : 34 |
Release | : 2006 |
Genre | : |
ISBN | : |
Download On the Dynamics of Economic Growth Book in PDF, ePub and Kindle
This paper examines the dynamics of economic growth. First, it demonstrates that the standard neoclassical growth model with constant elasticity of intertemporal substitution is not consistent with the patterns of development we observe in the real world, once we consider the initial conditions. Second, it examines an alternative growth model, which is consistent with endogenously determined initial conditions and also generates dynamics that are in accord with the historical patterns of growth rates, capital flows, savings rates and labor supply. The alternative model is a generalized version of the neoclassical growth model, with increasing rates of intertemporal substitution due to a Stone-Geary type of utility.
Author | : Pierre-Olivier Gourinchas |
Publisher | : |
Total Pages | : 68 |
Release | : 2007 |
Genre | : Capital movements |
ISBN | : |
Download Capital Flows to Developing Countries Book in PDF, ePub and Kindle
According to the consensus view in growth and development economics, cross country differences in per-capita income largely reflect differences in countries' total factor productivity. We argue that this view has powerful implications for patterns of capital flows: everything else equal, countries with faster productivity growth should invest more, and attract more foreign capital. We then show that the pattern of net capital flows across developing countries is not consistent with this prediction. If anything, capital seems to flow more to countries that invest and grow less. We argue that this result -- which we call the allocation puzzle -- constitutes an important challenge for economic research, and discuss some possible research avenues to solve the puzzle.
Author | : P. draig Belton |
Publisher | : CRC Press |
Total Pages | : 107 |
Release | : 2017 |
Genre | : Social Science |
ISBN | : 1351351818 |
Download Why Doesn't Capital Flow from Rich to Poor Countries? Book in PDF, ePub and Kindle
Robert Lucas is known among economists as one of the most influential macroeconomists of recent times--a reputation founded in no small part on the critical thinking skills displayed in his seminal 1990 paper 'Why Doesn';t Capital Flow from Rich to Poor Countries?'; Lucas's paper tackles a puzzle in economic theory that has since come to be known as the 'Lucas paradox, '; and it deploys the author';s brilliant problem solving skills to explain why such an apparent paradox in fact makes sense. Classical economic theory makes a simple prediction of how capital flows between countries: it should, it states, flow from rich to poor countries, because of the law of diminishing returns on capital. Since poor countries have so little capital invested in them, the returns on new investment should be proportionally far better than investment in rich countries. This should mean that investors seeking new opportunities will invest in poorer countries, making capital consistently flow from rich nations to poorer ones. But, problematically, this is not in fact the case. Having defined the problem, Lucas did what any good problem solver would: he looked critically at the criteria involved, and offered a series of possible solutions. Indeed, in just six pages, he puts forward four hypotheses to explain the paradox';s existence. The popularity of his paper, and the influence it has had, are also greatly magnified by careful reasoning embodied in Lucas's marshalling of evidence and his explanations of the judgements he has made."--Provided by publisher
Author | : Margaux MacDonald |
Publisher | : |
Total Pages | : 34 |
Release | : 2015 |
Genre | : Capital movements |
ISBN | : |
Download Patterns of International Capital Flows and Productivity Growth Book in PDF, ePub and Kindle
Recent evidence from developing and emerging economies shows a negative correlation between growth and net capital inflows, a contradiction to neoclassical growth theory. I provide updated and disaggregated evidence on the origins of this puzzle. An analysis of the components of capital flows and of gross portfolio positions shows that foreign direct investment is directed towards countries with the highest growth rates, but that portfolio investment outflows exceed these inflows. Liberalized capital accounts further exacerbate this pattern. My results suggest a desire for international portfolio diversification in liquid assets by fast growing countries lies at the heart of the puzzle.
Author | : Sergio Rebelo |
Publisher | : World Bank Publications |
Total Pages | : 58 |
Release | : |
Genre | : |
ISBN | : |
Download Growth in Open Economies Book in PDF, ePub and Kindle