Capital Flows, International Financial Integration, and Economic Growth: An Analysis for the Emerging Markets
資金流動、國際金融整合與經濟成長：東歐、東亞與拉丁美洲新興經濟體的實證分析
Journal
經濟研究
Journal Volume
46
Journal Issue
2
Pages
245-284
Date Issued
2010
Author(s)
Abstract
By controlling specific financial and policy variables, we look at the relationship among capital flows, global imbalances and economic growth of the emerging economies. The results indicate that the style of the eastern European economies will be from ”downhill” to ”uphill” after their per-capita incomes are over the threshold. The East Asian economies could be from ”uphill” to ”downhill” if they can improve the degrees of financial deepening, and then the global imbalances can be relieved. The capital flows in Latin America do not depend on performance, financial situations and economic policies. However, the discipline of fiscal and monetary policies is still decisive on whether the capital inflows can contribute to economic growth.
SDGs
Type
journal article