Empirics for Marginal Product of Capital

Ly Hung

Journal of International Commerce, Economics and Policy (JICEP), 2019, vol. 11, issue 01, 1-14

Abstract: We characterize the marginal product of capital on a cross-section data of 88 economies over 1980–2013. The marginal product of capital is increasing on savings misallocation rate, measuring the fraction of savings unconverted into investment, on productivity growth and on financial openness. One country with a higher marginal product of capital makes more domestic investment, receives more foreign direct investment (FDI) and equities inflows, but accumulates more foreign debts and reserves. Moreover, it also has a higher financial development level.

Keywords: Marginal product of capital; international capital flows; financial development (search for similar items in EconPapers)
Date: 2019
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DOI: 10.1142/S1793993320500039

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