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International Capital Flows and the Lucas Paradox = Patterns, Determinants, and Debates /

Record Type:	Language materials, printed : Monograph/item
Title/Author:	International Capital Flows and the Lucas Paradox/ by Muhammad Akhtaruzzaman.
Reminder of title:	Patterns, Determinants, and Debates /
Author:	Akhtaruzzaman, Muhammad.
Description:	XVI, 203 p. 29 illus., 25 illus. in color.online resource. :
Contained By:	Springer Nature eBook
Subject:	Macroeconomics. -
Online resource:	https://doi.org/10.1007/978-981-13-9069-2
ISBN:	9789811390692

International Capital Flows and the Lucas Paradox = Patterns, Determinants, and Debates /
Akhtaruzzaman, Muhammad.

International Capital Flows and the Lucas ParadoxPatterns, Determinants, and Debates /[electronic resource] :by Muhammad Akhtaruzzaman. - 1st ed. 2019. - XVI, 203 p. 29 illus., 25 illus. in color.online resource.

Chapter 1: Review of the Neoclassical Theory of Capital Flows and Related Empirical -- Chapter 2: The Lucas Paradox: Alternative Estimates of Marginal Product of Capital -- Chapter 3: Estimating the Determinants of Capital Inflows Using Cross-Sectional Data -- Chapter 4: Panel and Non-Linear Models of Capital Inflows -- Chapter 5: Do Foreign Investors Fear Expropriation? Effects of Political Risk on FDI -- Chapter 6: Conclusion.

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.

ISBN: 9789811390692

Standard No.: 10.1007/978-981-13-9069-2doiSubjects--Topical Terms:

554837
Macroeconomics.

LC Class. No.: HB172.5

Dewey Class. No.: 339

International Capital Flows and the Lucas Paradox = Patterns, Determinants, and Debates /
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520 $a 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.
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