دانلود کتاب Does Openness to International Financial Flows Raise Productivity Growth?

Name: Does Openness to International Financial Flows Raise Productivity Growth?
Availability: InStock
Author: Eswar Prasad
ISBN: 9781452759166,9781451871005

by Eswar Prasad, Marco Terrones, M. Ayhan Kose

عنوان فارسی: آیا باز بودن جریان های مالی بین المللی باعث افزایش بهره وری می شود؟
ناشر: International Monetary Fund
سال: 2008
ویرایش: 1
زبان: انگلیسی
تعداد صفحه (نسخه چاپی - نسخه الکترونیکی): 41
شابک: 9781452759166,9781451871005
نوع فایل: EPUB دانلود نرم افزار مطالعه
حجم: 1.34 مگابایت

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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.