| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w9427 |
| 来源ID | Working Paper 9427 |
| Capital Account Liberalization and Growth: Was Mr. Mahathir Right? | |
| Barry Eichengreen; David Leblang | |
| 发表日期 | 2003-01-06 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | Much ink has been spilled over the connections between capital account liberalization and growth. One reason that previous studies have been inconclusive, we show, is their failure to account for the impact of crises on growth and for the capacity of controls to limit those disruptive output effects. Accounting for these influences, it appears that controls influence macroeconomic performance through two channels, directly (what we think of as their positive impact on resource allocation and efficiency) and indirectly (by limiting the disruptive effects of crises at home and abroad). Because these influences work in opposite directions, it is not surprising that previous studies, in failing to distinguish between them, have been unable to agree whether the effect of controls tilts one way or the other. And because vulnerability to crises varies across countries and with the structure and performance of the international financial system, it is not surprising that the effects of capital account liberalization on growth are contingent and context specific. We document these patterns using two entirely different data sets: a panel of historical data for 21 countries covering the period 1880-1997, and a wider panel for the post-1971 period like that employed in other recent studies. |
| 主题 | International Economics ; International Finance |
| URL | https://www.nber.org/papers/w9427 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/567046 |
| 推荐引用方式 GB/T 7714 | Barry Eichengreen,David Leblang. Capital Account Liberalization and Growth: Was Mr. Mahathir Right?. 2003. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w9427.pdf（647KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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