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International Capital Flows and the Lucas Paradox

Patterns, Determinants, and Debates

Authors: Akhtaruzzaman, Muhammad

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  • Provides a clear answer to the long-standing debate on the determinants of capital flows across borders 
  • Presents an evidence-based answer to the question of why capital doesn’t flow from rich to poor countries 
  • Suggests clear policy implications for developing and emerging market economies based on robust empirical analysis 
  • Investigates the determinants of international capital flows using a large sample of developing and emerging economies
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eBook 91,62 €
price for Spain (gross)
  • ISBN 978-981-13-9069-2
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 114,39 €
price for Spain (gross)
  • ISBN 978-981-13-9068-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
  • The final prices may differ from the prices shown due to specifics of VAT rules
About this book

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.

About the authors

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.

Table of contents (8 chapters)

Table of contents (8 chapters)

Buy this book

eBook 91,62 €
price for Spain (gross)
  • ISBN 978-981-13-9069-2
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 114,39 €
price for Spain (gross)
  • ISBN 978-981-13-9068-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
  • The final prices may differ from the prices shown due to specifics of VAT rules
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Bibliographic Information

Bibliographic Information
Book Title
International Capital Flows and the Lucas Paradox
Book Subtitle
Patterns, Determinants, and Debates
Authors
Copyright
2019
Publisher
Springer Singapore
Copyright Holder
Springer Nature Singapore Pte Ltd.
eBook ISBN
978-981-13-9069-2
DOI
10.1007/978-981-13-9069-2
Hardcover ISBN
978-981-13-9068-5
Edition Number
1
Number of Pages
XVI, 203
Number of Illustrations
4 b/w illustrations, 25 illustrations in colour
Topics