Are Capital Flows Consistent with the Neoclassical Growth Model? Evidence from a Cross-section of Developing Countries
Stefano Manzocchi and
Philippe Martin
Working Papers from HAL
Abstract:
We identify the determinants of capital movements in an "augmented-Solow" model where capital mobility is restricted to a subset of capital assets. We then test the prediction of the neoclassical model and find that it is consistent with the evidence on net capital flows in a cross-section of developing countries over the period 1960-82. We find that this is no longer true after 1982, however: the episodes of foreign debt repudiation and the world financial crisis of the early 1980s are the most natural candidates for an explanation of this pattern.
Keywords: Capital Movements; Developing; Countries; Growth Theory (search for similar items in EconPapers)
Date: 1996-05
References: Add references at CitEc
Citations:
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Related works:
Working Paper: Are Capital Flows Consistent with the Neoclassical Growth Model? Evidence from a Cross-section of Developing Countries (1996) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:hal:wpaper:hal-03607870
Access Statistics for this paper
More papers in Working Papers from HAL
Bibliographic data for series maintained by CCSD ().