Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence
Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence
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London: Palgrave Macmillan
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Language
English
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London: Palgrave Macmillan
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The workhorse open economy macromodel suggests that capital inflows are contractionary because they appreciate the currency and reduce net exports. Emerging market policy makers, however, believe that inflows lead to credit booms and rising output, and the evidence appears to go their way. To reconcile theory and reality, we extend the set of asset...
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Full title
Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications, and Some Evidence
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TN_cdi_proquest_journals_2091452094
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https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_proquest_journals_2091452094
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ISSN
2041-4161
E-ISSN
2041-417X
DOI
10.1057/s41308-017-0039-z
