izpis_h1_title_alt

International finance and income convergence : Europe is different
Abiad, Abdul (Author), Leigh, Daniel (Author), Mody, Ashoka (Author)

URLURL - Presentation file, Visit http://www.imf.org/external/pubs/ft/wp/2007/wp0764.pdf This link opens in a new window

Abstract
Recent studies conclude that the ongoing global financial integration may havehad little or no value in advancing economic growth, especially in poor countries. Capital is often found to flow "uphill" from poor to rich countries. And, when it does flow into the less developed economies, it is negatively correlated with growth, calling into question the desirability of foreign capital. In this paper we report that Europe-including the new member states of the European Union-provides a counterexample to these global anomalies. With increasing financial integration, capital in Europe has traveled "downhill" from rich to poor countries, and has done so with gathering strength. These inflows have been associated with significant acceleration of income convergence.

Language:English
Keywords:Evropa, mednarodne finance, plačilna bilanca, tekoči računi, dohodek, ekonomska rast, Europe, international finance, balance of payments, current accounts, income, economic growth
Work type:Statistics (i)
Organization:EF - Faculty of Economics
Year:2007
Publisher:International Monetary Fund
Number of pages:36 str.
Place:[Washington]
UDC:339.7
COBISS.SI-ID:17268710 Link is opened in a new window
Views:376
Downloads:149
Metadata:XML RDF-CHPDL DC-XML DC-RDF
 
Average score:(0 votes)
Your score:Voting is allowed only to logged in users.
:
Share:AddThis
AddThis uses cookies that require your consent. Edit consent...

Similar documents

Similar works from RUL:
Similar works from other Slovenian collections:

Comments

Leave comment

You have to log in to leave a comment.

Comments (0)
0 - 0 / 0
 
There are no comments!

Back