Research Catalog
Capital Flows and Growth in Developing Countries Recent Empirical Evidence
- Title
- Capital Flows and Growth in Developing Countries [electronic resource]: Recent Empirical Evidence / Marcelo Soto
- Author
- Soto, Marcelo.
- Publication
- Paris : OECD Publishing, 2000.
Available Online
Details
- Description
- 31 p.; 21 x 29.7cm.
- Summary
- Are capital inflows associated with faster income growth? There are a large number of empirical studies that identify the most relevant determinants of a country's growth rate. However, this literature has not explored the growth impact of the various types of capital inflows. The present study analyses the effects of the different components of private capital inflows on the growth of 44 developing countries. A dynamic panel with yearly data is estimated during the 1986-97 period. After controlling for the variables traditionally used in growth regressions, the following main conclusions emerge. First, foreign direct investment and portfolio equity flows exhibit a robust positive correlation with growth. Second, portfolio bond flows are not significantly linked to economic growth. Finally, in economies with undercapitalised banking systems, bank-related inflows are negatively correlated with the growth rate. This result holds for both short- and long-term bank-related ...
- Series Statement
- OECD Development Centre Working Papers, 1815-1949 ; no.160
- Uniform Title
- OECD Development Centre Working Papers, no.160.
- Subject
- Development
- LCCN
- 10.1787/633871307443
- OCLC
- oecd-lib
- Author
- Soto, Marcelo.
- Title
- Capital Flows and Growth in Developing Countries [electronic resource]: Recent Empirical Evidence / Marcelo Soto
- Imprint
- Paris : OECD Publishing, 2000.
- Series
- OECD Development Centre Working Papers, 1815-1949 ; no.160OECD Development Centre Working Papers, 1815-1949 ; no.160.
- Connect to:
- Indexed Term
- Development
- Other Standard Identifier
- 10.1787/633871307443 doi