Capital Mobility in Neoclassical Models of Growth
Author | : Robert J. Barro |
Publisher | : |
Total Pages | : 44 |
Release | : 1994 |
Genre | : Capital movements |
ISBN | : |
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Author | : Robert J. Barro |
Publisher | : |
Total Pages | : 44 |
Release | : 1994 |
Genre | : Capital movements |
ISBN | : |
Author | : Richard H. Clarida |
Publisher | : |
Total Pages | : 44 |
Release | : 1993 |
Genre | : Capital movements |
ISBN | : |
This paper presents a neoclassical model of international capital flows, public investment, and economic growth. Because public capital is non-traded and is imperfectly substitutable for private capital, the open economy converges only gradually to the Solow steady-state notwithstanding the fact that international capital mobility is perfect. Along the convergence path, the economy initially runs a current account deficit that reflects a consumption boom and a surge in public spending. Over time, the rate of public investment declines as does the rate of growth in the standard measure of multifactor productivity in the private sector, the Solow residual.
Author | : Robert Graham King |
Publisher | : |
Total Pages | : 41 |
Release | : 1989 |
Genre | : Economic development |
ISBN | : |
Author | : Assaf Razin |
Publisher | : |
Total Pages | : 42 |
Release | : 1992 |
Genre | : Capital movements |
ISBN | : |
We consider the role of capital mobility and international taxation. In explaining the observed diversity in long-term growth rates. Our major finding is that, under capital mobility, international differences in taxes will not matter for total growth differentials. Policy differences have a role to play in per capita growth differentials, however, when they lead to a divergence in the after-tax rates of return on capital across countries, as when the residence principle is adopted universally. When this is the case, how tax differences affect the growth rates of population and human capital will depend on the relative preference of the individual household towards these two engines of growth. Optimal tax policies are found to be growth-equalizing with and without policy coordination.
Author | : Mr.Harm Zebregs |
Publisher | : International Monetary Fund |
Total Pages | : 29 |
Release | : 1999-09-01 |
Genre | : Business & Economics |
ISBN | : 1451854889 |
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 | : Frank Hahn |
Publisher | : Springer |
Total Pages | : 307 |
Release | : 2016-01-06 |
Genre | : Business & Economics |
ISBN | : 1349262706 |
This collection offers a stimulating and insightful overview of the main issues affecting long-term economic growth. The novelty of this book is that it brings together two strands of economic literature, growth and development theories. The communication between different approaches is crucial as it is increasingly understood that growth hinges upon institutional and policy aspects that are generally neglected in the stylized models of growth but highly relevant for developing countries. Government policies and institution design become central to the explanation of divergent growth paths.
Author | : Sergio Rebelo |
Publisher | : World Bank Publications |
Total Pages | : 58 |
Release | : |
Genre | : |
ISBN | : |
Author | : Andre Burgstaller |
Publisher | : |
Total Pages | : |
Release | : 1981 |
Genre | : |
ISBN | : |
Author | : Stefano MANZOCCHI |
Publisher | : |
Total Pages | : |
Release | : 1996 |
Genre | : |
ISBN | : |
Author | : Sergio Rebelo |
Publisher | : World Bank Publications |
Total Pages | : 60 |
Release | : 1991 |
Genre | : Capital market |
ISBN | : |
A simple modification of recent growth models eliminates the implausible implication that growth rates should be equalized in the presence of free international capital mobility and is consistent with evidence that points to low rates of savings in low income countries.