Foreign Capital In Developing Economies
Perspectives from the Theory of Economic Growth
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Beschreibung
The object of this volume is to evaluate the pattern and the function of foreign capital in developing countries in a long-run perspective. The main conceptual instruments employed are the theory of economic growth, and the techniques associated with recent advances in growth econometrics. This empirical work points out that there is no mechanical trade-off between the short-term dangers and the long-run gains from capital market integration, but the growth benefits of foreign capital in transforming economies are conditional on an effective destination of the resources. Over-borrowing and excessive consumption are the main pitfalls in the short- as in the long-run. Nevertheless, foreign capital can be conducive to faster growth and possibly higher welfare.
Autor*in
Stefano Manzocchi
Themen in »Foreign Capital In Developing Economies«
Developing Countries Developing Economies Eastern Europe econometrics economic growth growth growth theory Stagnation