Growth from International Capital Flows : The Role of Volatility Regimes /

Recent commentary has downplayed the growth dividend from international financial integration, highlighting the possibly negative correlation between capital inflows and long-run growth. This paper presents new evidence consistent with standard economic theory and a more benign interpretation of cro...

সম্পূর্ণ বিবরণ

গ্রন্থ-পঞ্জীর বিবরন
প্রধান লেখক: Murshid, Antu
অন্যান্য লেখক: Mody, Ashoka
বিন্যাস: পত্রিকা
ভাষা:English
প্রকাশিত: Washington, D.C. : International Monetary Fund, 2011.
মালা:IMF Working Papers; Working Paper ; No. 2011/090
অনলাইন ব্যবহার করুন:Full text available on IMF
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245 1 0 |a Growth from International Capital Flows :   |b The Role of Volatility Regimes /  |c Antu Murshid, Ashoka Mody. 
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520 3 |a Recent commentary has downplayed the growth dividend from international financial integration, highlighting the possibly negative correlation between capital inflows and long-run growth. This paper presents new evidence consistent with standard economic theory and a more benign interpretation of cross-border private capital flows. The key observation is that a country's growth volatility changes over time. With volatility below a threshold, an inflow of foreign capital has promoted growth. However, during periods of volatile growth, more flows have been associated with slower growth. Volatility levels and changes reflect an interaction of domestic production and institutional structures with global factors. 
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700 1 |a Mody, Ashoka. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2011/090 
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