Financial Development, International Capital Flows, and Aggregate Output
We develop a tractable two-country overlapping-generations model and show that cross-country differences in financial development can explain three recent empirical patterns of international capital flows: Financial capital flows from relatively poor to relatively rich countries, while foreign direc...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2014
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soe_research/1514 https://ink.library.smu.edu.sg/context/soe_research/article/2513/viewcontent/ZhangHP2013JDE_AFV1.pdf |
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| Institution: | Singapore Management University |
| Language: | English |