International Capital Flows and the Lucas Paradox
Language: English
Published by Springer Nature Singapore Aug 2020, 2020
- Softcover
- New
Seller: BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, GermanyBuchWeltWeit Ludwig Meier e.K.
AbeBooks seller since January 11, 2012
Condition: New
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This item is printed on demand - it takes 3-4 days longer - Neuware -This book offers a comprehensive analysis of the debates on international capital flows, and presents a new evidence-based answer to the long-standing question of why capital doesn't tend to flow from rich to poor countries as predicted by standard neoclassical theory - a puzzle known as the Lucas paradox. Further, the book reviews alternative approaches to conventional estimates of the marginal product of capital (MPK) and considers whether these estimates actually help us understand observed international capital flows.A rigorous quantitative approach is subsequently used to provide clear empirical evidence on the determinants of capital flows across borders. The findings of this empirical analysis suggest that generous economic policies on capital account convertibility are more influential than differences in institutional quality in terms of determining international capital flows. In closing, the relative importance of various types of political risk (e.g. expropriation and corruption) is examined. After determining that expropriation risk has one of the greatest effects on foreign direct investment (FDI), the book proposes an appealingly intuitive explanation for the lack of FDI flows to many capital-scarce developing countries. 220 pp. Englisch.…
Seller Inventory # 9789811390715
- Title
- International Capital Flows and the Lucas Paradox
- Author
- Muhammad Akhtaruzzaman
- Publisher
- Springer Nature Singapore Aug 2020
- Publication year
- 2020
- Condition
- Neu
- Binding
- Taschenbuch
- Language
- English
- ISBN 10
- 9811390711
- ISBN 13
- 9789811390715
- Item weight
- 341 grams
- Dimensions
- 235x155x13 mm
This book offers a comprehensive analysis of the debates on international capital flows, and presents a new evidence-based answer to the long-standing question of why capital doesn’t tend to flow from rich to poor countries as predicted by standard neoclassical theory – a puzzle known as the Lucas paradox. Further, the book reviews alternative approaches to conventional estimates of the marginal product of capital (MPK) and considers whether these estimates actually help us understand observed international capital flows.
A rigorous quantitative approach is subsequently used to provide clear empirical evidence on the determinants of capital flows across borders. The findings of this empirical analysis suggest that generous economic policies on capital account convertibility are more influential than differences in institutional quality in terms of determining international capital flows. In closing, the relative importance of various types of political risk (e.g. expropriationand corruption) is examined. After determining that expropriation risk has one of the greatest effects on foreign direct investment (FDI), the book proposes an appealingly intuitive explanation for the lack of FDI flows to many capital-scarce developing countries.
"Synopsis" may belong to another edition of this title.
About the Author
Muhammad Akhtaruzzaman is Senior Lecturer at Toi Ohomai Institute of Technology, Rotorua, New Zealand. His research interests focus on international macroeconomics, empirical macroeconomics, development economics, and business and management.
"About the title" may belong to another edition of this title.
BuchWeltWeit Ludwig Meier e.K.
Bergisch Gladbach, Germany
AbeBooks seller since January 11, 2012
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