Hidden Bibliographic Details
| Other authors / contributors: | Ricci, Luca Antonio, author.
Tressel, Thierry, author.
International Monetary Fund. Research Department, issuing body.
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| ISBN: | 1283551837
9781283551830
9781455256723
1455256722
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| Notes: | Title from PDF title page (IMF Web site, viewed September 27, 2011).
At head of title: Research Department.
"October 2010."
Includes bibliographical references.
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| Summary: | Does capital flow from rich to poor countries? We revisit the Lucas paradox and explore the role of capital account restrictions in shaping capital flows at various stages of economic development. We find that, when accounting for the degree of capital account openness, the prediction of the neoclassical theory is confirmed: less developed countries tend to experience net capital inflows and more developed countries tend to experience net capital outflows, conditional of various countries' characteristics. The findings are driven by foreign direct investment, portfolio equity investment, and to some extent by loans to the private sector.
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| Other form: | Print version: Ricci, Luca Antonio. International Capital Flows and Development: Financial Openness Matters. Washington : International Monetary Fund, ©2010 9781455209354
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