Technology Differences and Capital Flows

Sebastian Claro

No 124, Econometric Society 2004 Latin American Meetings from Econometric Society

Abstract: The one-to-one mapping between cross-country differences in capital returns and the direction of international capital flows is broken in a multisector world where international factor price differences are driven by technology differences. A technology-backward or low-return-to-capital country will face capital inflows or outflows after financial integration depending on whether non-tradable demand is bossted or not

Keywords: TEchnology Differences; Capital Flows; International Factor Price Differences (search for similar items in EconPapers)
JEL-codes: F15 F21 F41 (search for similar items in EconPapers)
Date: 2004-08-11
New Economics Papers: this item is included in nep-ifn
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