International Capital Flows and Development : Financial Openness Matters »
Journal Issue
Volume/Issue: 2010/235
Series: IMF Working Papers
Author(s): Luca Ricci , Thierry Tressel , and Dennis B. S. Reinhardt
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 October 2010
DOI: http://dx.doi.org/10.5089/9781455209354.001
ISBN: 9781455209354
Keywords: Lucas paradox, financial openness, capital inflows, capital account openness, Financial Aspects of Economic Integration, Economic Growth And Aggregate Productivity,
Does capital flow from rich to poor countries? We revisit the Lucas paradox and explore the role of capital account restrictions in shaping capital flows at various stages of economic development. We find that, whe...