Does Openness to International Financial Flows Raise Productivity Growth?
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 accoun...
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| Online Access: |
Full text (MCPHS users only) |
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| Main Author: | |
| Other Authors: | , |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington :
International Monetary Fund,
2008
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| Series: | IMF Working Papers.
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| Subjects: | |
| Local Note: | ProQuest Ebook Central |
| Summary: | 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. |
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| Physical Description: | 1 online resource (65 pages) |
| Bibliography: | Includes bibliographical references. |
| ISBN: | 9781452759166 1452759162 1451915535 9781451915532 |
| Source of Description, Etc. Note: | Print version record. |
