The Marginal Product of Capital, Capital Flows, and Convergence

In the world of free capital mobility, theoretically capital flows from low-return to high-return locations. Capital inflows are presumably transformed to physical capital and increase output in the recipient countries. However, the literature led by Robert E Lucas (1990) has focused on the directio...

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Veröffentlicht in:	The American economic review 2010-05, Vol.100 (2), p.73-77
Hauptverfasser:	Chatterjee, Sirsha, Naknoi, Kanda
Format:	Artikel
Sprache:	eng
Schlagworte:	Capital gains Capital inflows Capital investments Capital mobility Capital movement Capital stock Capital stocks Consumption Convergence Cost control Economic growth ECONOMIC GROWTH AND OPEN-ECONOMY MACROECONOMICS Financial investments Growth models Households Investment goods Investments Marginal products Price volatility Productivity Studies
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