Capital flight, saving rate and the golden rule level of capital: policy recommendations for Latin America countries

Vespignani L Joaquin

MPRA Paper from University Library of Munich, Germany

Abstract: This paper seeks to analyse the determinants of capital flight in selected Latin American countries throughout the 1990s, and gives some insights into what economic policies would be adequate under capital flight conditions. Finding, empirically, the saving rate to be a new determinant of capital flight, this paper discusses whether or not achieving the golden rule level of capital would be desirable and what source of government revenue (direct or indirect taxation) would be appropriate under those conditions.

Keywords: Capital Flight; Determinant; Golden Rule; Direct Taxation; Indirect Taxation (search for similar items in EconPapers)
JEL-codes: E62 F41 F43 (search for similar items in EconPapers)
Date: 2008-01, Revised 2008-12
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Published in American Review of Political Economy 2.6(2008): pp. 1-15

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