Technology Differences and Capital Flows
AbstractThe one-to-one mapping between cross-country differences in capital returns and the direction of international capital flows is broken in a multisector world where international factor price differences are driven by technology differences. A technology-backward or low-return-to-capital country will face capital inflows or outflows after financial integration depending on whether non-tradable demand is bossted or not
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Bibliographic InfoPaper provided by Econometric Society in its series Econometric Society 2004 Latin American Meetings with number 124.
Date of creation: 11 Aug 2004
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TEchnology Differences; Capital Flows; International Factor Price Differences;
Find related papers by JEL classification:
- F15 - International Economics - - Trade - - - Economic Integration
- F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
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