Integração financeira, poupança externa e convergência de renda: teoria e evidência
The conventional argument favoring capital controls elimination is based on the predictions from the neoclassical model: free international capital mobility would allow capital flows from country where capital is abundant to countries where capital is scarce and the outcome in a global perspective i...
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| Format: | Article |
| Language: | English |
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Editora 34
2011-01-01
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| Series: | Brazilian Journal of Political Economy |
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| Online Access: | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572011000500004&lng=en&tlng=en |
| _version_ | 1828199853466845184 |
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| author | Aderbal Oliveira Damasceno |
| author_facet | Aderbal Oliveira Damasceno |
| author_sort | Aderbal Oliveira Damasceno |
| collection | DOAJ |
| description | The conventional argument favoring capital controls elimination is based on the predictions from the neoclassical model: free international capital mobility would allow capital flows from country where capital is abundant to countries where capital is scarce and the outcome in a global perspective is efficient allocation of savings and income convergence. Within this perspective, financial integration would be particularly beneficial for developing countries resulting in external savings import, temporary increase in per-capita GDP growth rate and a permanent increase in the per-capita GDP level. Using data for a sample of 105 countries from 1980 to 2004 the evidences show that capitals flows from developing to developed countries and that international financial integration and external savings do not increase the conditional convergence rate. |
| first_indexed | 2024-04-12T11:03:35Z |
| format | Article |
| id | doaj.art-7af811b33f5642efa4414c5455f7e310 |
| institution | Directory Open Access Journal |
| issn | 1809-4538 |
| language | English |
| last_indexed | 2024-04-12T11:03:35Z |
| publishDate | 2011-01-01 |
| publisher | Editora 34 |
| record_format | Article |
| series | Brazilian Journal of Political Economy |
| spelling | doaj.art-7af811b33f5642efa4414c5455f7e3102022-12-22T03:35:52ZengEditora 34Brazilian Journal of Political Economy1809-45382011-01-0131575177010.1590/S0101-31572011000500004S0101-31572011000500004Integração financeira, poupança externa e convergência de renda: teoria e evidênciaAderbal Oliveira Damasceno0Universidade Federal de UberlândiaThe conventional argument favoring capital controls elimination is based on the predictions from the neoclassical model: free international capital mobility would allow capital flows from country where capital is abundant to countries where capital is scarce and the outcome in a global perspective is efficient allocation of savings and income convergence. Within this perspective, financial integration would be particularly beneficial for developing countries resulting in external savings import, temporary increase in per-capita GDP growth rate and a permanent increase in the per-capita GDP level. Using data for a sample of 105 countries from 1980 to 2004 the evidences show that capitals flows from developing to developed countries and that international financial integration and external savings do not increase the conditional convergence rate.http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572011000500004&lng=en&tlng=eninternational financial integrationinternational capital flowsconditional convergence |
| spellingShingle | Aderbal Oliveira Damasceno Integração financeira, poupança externa e convergência de renda: teoria e evidência Brazilian Journal of Political Economy international financial integration international capital flows conditional convergence |
| title | Integração financeira, poupança externa e convergência de renda: teoria e evidência |
| title_full | Integração financeira, poupança externa e convergência de renda: teoria e evidência |
| title_fullStr | Integração financeira, poupança externa e convergência de renda: teoria e evidência |
| title_full_unstemmed | Integração financeira, poupança externa e convergência de renda: teoria e evidência |
| title_short | Integração financeira, poupança externa e convergência de renda: teoria e evidência |
| title_sort | integracao financeira poupanca externa e convergencia de renda teoria e evidencia |
| topic | international financial integration international capital flows conditional convergence |
| url | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572011000500004&lng=en&tlng=en |
| work_keys_str_mv | AT aderbaloliveiradamasceno integracaofinanceirapoupancaexternaeconvergenciaderendateoriaeevidencia |