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Private Capital Flows to Low Income Countries: Country-Specific Effects and the Lucas Paradox


Author Info

  • Corine Franken

    (University of Amsterdam)

  • and Sweder van Wijnbergen

    (University of Amsterdam, the Netherlands)


This paper analyses Net Private Capital Flows to LICs incorporating the recent surge in FDI between 2000 and 2006. We show that including country-specific effects in a paneldata setup resolves the Lucas Paradox, at least for LICs. Our results suggest that openness is among the most important factors explaining country-specific performance in attracting Net Private Capital Flows.

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Bibliographic Info

Paper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 10-003/2.

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Date of creation: 13 Jan 2010
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Handle: RePEc:dgr:uvatin:20100003

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Keywords: Private capital inflows; Low Income Countries; Lucas Paradox;

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