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http://hdl.handle.net/10261/1720
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Campo DC | Valor | Lengua/Idioma |
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dc.contributor.author | Bonfiglioli, Alessandra | - |
dc.date.accessioned | 2007-10-30T15:18:18Z | - |
dc.date.available | 2007-10-30T15:18:18Z | - |
dc.date.issued | 2007-02-02 | - |
dc.identifier.uri | http://hdl.handle.net/10261/1720 | - |
dc.description | Trabajo publicado como artículo en Journal of International Economics 76(2): 337-355 (2008).-- http://dx.doi.org/10.1016/j.jinteco.2008.08.001 | - |
dc.description.abstract | Understanding the mechanism through which financial globalization affects economic performance is crucial for evaluating the costs and benefits of opening financial markets. This paper is a first attempt at disentangling the effects of financial integration on the two main determinants of economic performance: productivity (TFP) and investments. I provide empirical evidence from a sample of 93 countries observed between 1975 and 1999. The results suggest that financial integration has a positive direct effect on productivity, while it spurs capital accumulation only with some delay and indirectly, since capital follows the rise in productivity. I control for indirect effects of financial globalization through banking crises. Such episodes depress both investments and TFP, though they are triggered by financial integration only to a minor extent. | en_US |
dc.language.iso | eng | en_US |
dc.relation.ispartofseries | UFAE and IAE Working Papers | en_US |
dc.relation.ispartofseries | 680.07 | en_US |
dc.rights | openAccess | en_US |
dc.subject | Capital account liberalization | en_US |
dc.subject | Financial development | en_US |
dc.subject | Banking crises | en_US |
dc.subject | Growth | en_US |
dc.subject | Productivity | en_US |
dc.subject | Investments | en_US |
dc.title | Financial Integration, Productivity and Capital Accumulation | en_US |
dc.type | documento de trabajo | en_US |
dc.type.coar | http://purl.org/coar/resource_type/c_8042 | es_ES |
item.openairetype | documento de trabajo | - |
item.grantfulltext | open | - |
item.cerifentitytype | Publications | - |
item.openairecristype | http://purl.org/coar/resource_type/c_18cf | - |
item.fulltext | With Fulltext | - |
item.languageiso639-1 | en | - |
Aparece en las colecciones: | (IAE) Informes y documentos de trabajo |
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68007.pdf | 281,01 kB | Adobe PDF | Visualizar/Abrir |
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