Abstract
This paper analyzes the empirical role of different types of long-term policies, institutional quality and political risk factors' impact on cross-country capital flows. Our findings suggest that the long-term institutional quality of countries explains the variation in capital flows across countries. Even though the long-term institutional quality factors are important to attract higher capital flows, none of these proxies explain the Lucas paradox (i.e., why poor countries receive relatively low levels of capital flows).
Original language | English |
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Publication status | Published - 14 Nov 2015 |
Event | 2nd Annual BIT Global Congress of Knowledge Economy - Qingdao, China Duration: 13 Nov 2015 → 15 Nov 2015 |
Conference
Conference | 2nd Annual BIT Global Congress of Knowledge Economy |
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Country/Territory | China |
City | Qingdao |
Period | 13/11/15 → 15/11/15 |