Does Openness to International Financial Flows Raise Productivity Growth? (EPub) PDF
By:Mr. Eswar Prasad,Mr. Marco Terrones,Mr. M. Ayhan Kose
Published on 2008-10-01 by International Monetary Fund
This paper provides a comprehensive analysis of the relationship between financial openness and total factor productivity (TFP) growth using an extensive dataset that includes various measures of productivity and financial openness for a large sample of countries. We find that de jure capital account openness has a robust positive effect on TFP growth. The effect of de facto financial integration on TFP growth is less clear, but this masks an important and novel result. We find strong evidence that FDI and portfolio equity liabilities boost TFP growth while external debt is actually negatively correlated with TFP growth. The negative relationship between external debt liabilities and TFP growth is attenuated in economies with higher levels of financial development and better institutions.
This Book was ranked at 14 by Google Books for keyword International Economics novel.
Book ID of Does Openness to International Financial Flows Raise Productivity Growth? (EPub)'s Books is _HFlmdtzgi8C, Book which was written byMr. Eswar Prasad,Mr. Marco Terrones,Mr. M. Ayhan Kosehave ETAG "rLQ/k6gPBT4"
Book which was published by International Monetary Fund since 2008-10-01 have ISBNs, ISBN 13 Code is 9781452759166 and ISBN 10 Code is 1452759162
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