Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/35252
Authors: 
Prasad, Eswar S.
Rajan, Raghuram G.
Year of Publication: 
2008
Series/Report no.: 
IZA Discussion Papers 3475
Abstract: 
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.
Subjects: 
Capital account liberalization
capital controls
collateral benefits
thresholds
JEL: 
F2
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

Files in This Item:
File
Size
144.94 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.