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

Sérgio Fornazier Meirelles Filho and Frederico Jayme Jr ()
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Sérgio Fornazier Meirelles Filho: FACE-UFG, Ciências Econômicas

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

No 16, Working papers - Textos para Discussao do Curso de Ciencias Economicas da UFG from Curso de Ciencias Economicas da Universidade Federal de Goias - FACE

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 traditional capital mobility indexes we estimate a panel across 80 countries, both developed and developing between 1979-2003. 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: F41 F43 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2010-06
New Economics Papers: this item is included in nep-fdg, nep-ifn and nep-opm
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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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