Abstract
![CDATA[This paper examines changes in international capital mobility during the past three decades. The consumption-smoothing current account approach is utilized to determine the extent of international capital mobility using data for seven OECD countries. The empirical results of the study indicate a significant increase in capital mobility during the decades of the 1980s and the 1990s, compared to the 1970s. The empirical results also provide support for the positive effect of foreign direct investment and portfolio investment capital on financial deepening. Furthermore, it is shown that, in advanced economies, increased capital mobility and financial depth have a positive effect on economic performance.]]
Original language | English |
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Title of host publication | Proceedings of the 3rd Global Conference on Business & Economics, held in Amsterdam, Netherlands, 9-11 July, 2004 |
Number of pages | 5 |
Publication status | Published - 2004 |
Event | Global Conference on Business & Economics - Duration: 1 Jan 2004 → … |
Conference
Conference | Global Conference on Business & Economics |
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Period | 1/01/04 → … |
Keywords
- capital movements
- globalization
- financial crises
- international finance
- investments, foreign
- economic policy