Portfolio flows, volatility and growth

We study the realized openness to portfolio flows of economically more-developed and less-developed countries as it affects future GDP growth. Outflows of a country's funds into U.S. securities are predictive of GDP growth, suggesting that the benefits of openness outweigh local capital flight....

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Veröffentlicht in:Journal of international money and finance 2009-03, Vol.28 (2), p.271-292
Hauptverfasser: Ferreira, Miguel A., Laux, Paul A.
Format: Artikel
Sprache:eng
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