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Capital mobility, balance of payments constraints, and economic growth: an empirical dynamic analysis

Sérgio F. Meyrelles-Filho and Frederico Jayme Jr ()
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Sérgio F. Meyrelles-Filho: UFGO

Authors registered in the RePEc Author Service: Sérgio Fornazier Meyrelles Filho ()

Textos para Discussão Cedeplar-UFMG from Cedeplar, Universidade Federal de Minas Gerais

Abstract: This paper analyses empirically the relationship between economic growth and the openness of the financial account of the balance of payments. It takes into consideration the balance of payments’ constrained growth, as well as the difficulties in the empirical literature in measuring capital mobility. Starting from the capital mobility index we estimate a panel across 80 countries, both developed and developing between 1997-2003. Results suggest that more capital mobility in developing countries affects growth negatively, whereas it possibly stimulates growth in developed countries.

Keywords: Economic Growth; Capital Mobility; Dynamic Panel (search for similar items in EconPapers)
JEL-codes: C33 F32 F43 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2010-11
New Economics Papers: this item is included in nep-fdg and nep-opm
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http://www.cedeplar.ufmg.br/pesquisas/td/TD%20411.pdf (application/pdf)

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Working Paper: Capital mobility, balance of payments constraints, and economic growth: an empirical dynamic analysis (2010) Downloads
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