International Capital Flows and Aggregate Output

International Capital Flows and Aggregate Output

We develop a tractable multi-country overlapping-generations model and show that cross-country differences in financial development explain three recent empirical patterns of international capital flows. Domestic financial frictions in our model distort interest rates and aggregate output in the les...

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Bibliographic Details
Main Authors: von Hagen, Jurgen, ZHANG, Haiping
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2010
Subjects:
Capital account liberalization
Financial frictions
financial development
foreign direct investment
world output gains
Finance
International Economics
Online Access:https://ink.library.smu.edu.sg/soe_research/1231
https://ink.library.smu.edu.sg/context/soe_research/article/2230/viewcontent/ICF_AO_new.pdf
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Institution: Singapore Management University
Language: English

Internet

https://ink.library.smu.edu.sg/soe_research/1231
https://ink.library.smu.edu.sg/context/soe_research/article/2230/viewcontent/ICF_AO_new.pdf

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