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http://hdl.handle.net/10419/35252
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| Title: | | A pragmatic approach to capital account liberalization  |
| Authors: | | Prasad, Eswar S. Rajan, Raghuram G. |
| Issue Date: | | 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: | | urn:nbn:de:101:1-2008050216 |
| Document Type: | | Working Paper |
| Appears in Collections: | | IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
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