Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/24919 
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dc.contributor.authorChakrabarty, Debajyotien
dc.contributor.authorChanda, Areendamen
dc.contributor.authorGhate, Chetanen
dc.date.accessioned2006-10-12-
dc.date.accessioned2009-05-08T15:23:35Z-
dc.date.available2009-05-08T15:23:35Z-
dc.date.issued2006-
dc.identifier.urihttp://hdl.handle.net/10419/24919-
dc.description.abstractWe construct an overlapping generations model to study the effect of capital controls on human capital investments and the incidence of redistributive politics in a growing economy. We argue that the conventional wisdom linking higher capital controls to lower growth is reproduced only when an economy is sufficiently developed. For under-developed countries, higher capital controls are beneficial for human capital accumulation suggesting that the wisdom does not apply. In an augmented version of the model, we show that a modern sector, characterized by positive levels of investment in education, may not exist unless capital controls are sufficiently high. In particular, higher capital controls make it feasible for a modern sector to exist by lowering the threshold income level required by workers to invest in human capital. These results are consistent with recent evidence suggesting that capital account liberalization positively affects growth only after a country has achieved a certain threshold level of absorptive capacities.en
dc.language.isoengen
dc.publisher|aMax Planck Institute of Economics |cJenaen
dc.relation.ispartofseries|aPapers on Entrepreneurship, Growth and Public Policy |x2106en
dc.subject.jelD33en
dc.subject.jelE62en
dc.subject.jelF21en
dc.subject.jelO19en
dc.subject.jelO40en
dc.subject.ddc330en
dc.subject.keywordCapital Flighten
dc.subject.keywordEconomic Growthen
dc.subject.keywordHuman Capitalen
dc.subject.keywordIncome Distributionen
dc.subject.keywordLong Term Capital Movementsen
dc.subject.keywordOptimal Taxationen
dc.subject.stwKapitalfluchten
dc.subject.stwWirtschaftswachstumen
dc.subject.stwOverlapping Generationsen
dc.subject.stwEinkommensumverteilungen
dc.subject.stwHumankapitalen
dc.subject.stwOptimale Besteuerungen
dc.subject.stwTheorieen
dc.titleEducation, Growth, and Redistribution in the Presence of Capital Flight-
dc.typeWorking Paperen
dc.identifier.ppn518718514en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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