Capital account openness, international trade, and economic growth : A cross-country empirical investigation

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dc.contributor.authorButkiewicz J.L.
dc.contributor.authorYanikkaya H.
dc.date.accessioned2024-07-22T08:22:15Z
dc.date.available2024-07-22T08:22:15Z
dc.date.issued2008
dc.description.abstractNew empirical estimates of the effects of capital restrictions on growth support capital account liberalization, especially for developed countries. Capital restrictions reduce the benefits of foreign direct investment (FDI) on growth in developing countries. Estimation results for long-term capital flows demonstrate that countries with higher flows grow faster, challenging the belief that countries must attain a threshold level of development or human capital to benefit from capital inflows. Moreover, findings show that trade with developed countries and FDI inflows are substitutes in developing countries. Overall, the results support capital account liberalization in developed and developing countries. Copyright © 2008 M.E. Sharpe, Inc. All rights reserved.
dc.identifier.DOI-ID10.2753/REE1540-496X440202
dc.identifier.issn1540496X
dc.identifier.urihttp://akademikarsiv.cbu.edu.tr:4000/handle/123456789/18973
dc.language.isoEnglish
dc.titleCapital account openness, international trade, and economic growth : A cross-country empirical investigation
dc.typeArticle

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