Empirical evidence on the growth benefits of capital inflows is mixed. The growth benefits accruing from capital inflows also appear to be larger for high savings countries. We explain this phenomenon using an OLG model of endogenous growth in open economies with borrowing constraints that can...

Pakistan economy has received large inflows of foreign capital, in shape of foreign debt, FDI and worker's remittances, over the years. The present study is focused on the examination of effects of these flows on economic growth in Pakistan. Johansen cointegration technique and Granger causality...

This study examines the relative effects of the different types of international financial flows on economic performance in Kenya both in the long- and short-runs using the autoregressive distributed lag model (ARDL) bounds approach and data for the period 1970 to 2017. This is against the...

This paper makes an exploratory empirical investigation into the relationship between the net private capital flows and economic growth using a panel dataset from emerging Asian countries viz South Korea, Indonesia, Malaysia, Thailand and the Philippines over the period from 1980 to 2001....

Since 2002, spreads on emerging market sovereign debt have fallen to historical lows. Given the close links between sovereign spreads, capital flows to emerging markets, and economic growth, understanding the factors driving these spreads is very important. We address this issue in two stages....

We document the recent phenomenon of "uphill" flows of capital from nonindustrial to industrial countries and analyze whether this pattern of capital flows has hurt growth in nonindustrial economies that export capital. Surprisingly, we find that there is a positive correlation between current...