A Pragmatic Approach to Capital Account Liberalization / Eswar S. Prasad, Raghuram Rajan.

Format:

Book

Author/Creator:

Prasad, Eswar S., 1965-

Contributor:

National Bureau of Economic Research.

Rajan, Raghuram.

Series:

Working Paper Series (National Bureau of Economic Research) no. w14051.

NBER working paper series no. w14051

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2008.

Summary:

Cross-country regressions suggest little connection from foreign capital inflows to more rapid economic growth for developing countries and emerging markets. This suggests that the lack of domestic savings is not the primary constraint on growth in these economies, as implicitly assumed in the benchmark neoclassical framework. We explore emerging new theories on both the costs and benefits of capital account liberalization, and suggest how one might adopt a pragmatic approach to the process.

Notes:

Print version record

June 2008.