Capital account liberalization and unemployment in industrial countries

Horst Feldmann

Applied Economics Letters, 2013, vol. 20, issue 6, 566-571

Abstract: Using data on 21 industrial countries over 1973 to 2005, this article finds that the liberalization of capital accounts implemented during this period has probably reduced unemployment. The magnitude of the estimated effect is substantial. We control for both endogeneity of capital account regulation and all major determinants of unemployment. The results are robust to variations in specification.

Date: 2013
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DOI: 10.1080/13504851.2012.718058

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