TY  - BOOK
AU  - Aizenman,Joshua
AU  - Jinjarak,Yothin
AU  - Park,Donghyun
ED  - National Bureau of Economic Research.
TI  - Capital Flows and Economic Growth in the Era of Financial Integration and Crisis, 1990-2010
T2  - NBER working paper series
PY  - 2011///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - October 2011; Hardcopy version available to institutional subscribers
N2  - We investigate the relationship between economic growth and lagged international capital flows, disaggregated into FDI, portfolio investment, equity investment, and short-term debt. We follow about 100 countries during 1990-2010 when emerging markets became more integrated into the international financial system. We look at the relationship both before and after the global crisis. Our study reveals a complex and mixed picture. The relationship between growth and lagged capital flows depends on the type of flows, economic structure, and global growth patterns. We find a large and robust relationship between FDI - both inflows and outflows - and growth. The relationship between growth and equity flows is smaller and less stable. Finally, the relationship between growth and short-term debt is nil before the crisis, and negative during the crisis
UR  - https://www.nber.org/papers/w17502
UR  - http://dx.doi.org/10.3386/w17502
ER  -