1. NCCU Academic Hub
  2. 學術產出
  3. College of Commerce
  4. Periodical Articles
  5. Item

學術產出-Periodical Articles

Article View/Open

Publication Export

Google ScholarTM

政大圖書館

Citation Infomation

題名 WHAT MAKES INTERNATIONAL CAPITAL FLOWS PROMOTE ECONOMIC GROWTH? AN INTERNATIONAL CROSS-COUNTRY ANALYSIS
作者 Shen, Chung-Hua;Lee, Chien-Chiang;Lee, Chi-Chuan
沈中華
貢獻者 金融系
日期 2010-11
上傳時間 18-Mar-2015 14:35:13 (UTC+8)
摘要 This paper re-examines the relationship between international capital flows and economic growth within the context of various ‘conditional factors’ that possibly have the potential to influence such relationships. It achieves this by employing panel data for 80 countries that cover 1976–2007. International capital inflow is broken down into foreign direct investments (FDI) and foreign portfolio investments (FPI). We find interesting evidence that only FDI has a positive effect on growth and that FPI has an unfavorable, if not negative, effect on growth. The conditional variables of banking liberalization, high-income level, twin crises, lower corruption, and human capital mitigate the positive impacts of FDI on growth. In contrast, the middle-income level and good shareholder protection have a positive effect. As concerns FPI, the level of financial liberalization, being in a Latin American region, the wealth of countries, and market governance all influence the way that FPI affects growth, whereas the conditional variables of twin crises and human capital do not influence the effect of FPI on economic growth.
關聯 Scottish Journal of Political Economy - SCOT J POLIT ECON
資料類型 article
DOI http://dx.doi.org/10.1111/j.1467-9485.2010.00529.x
dc.contributor 金融系-
dc.creator (作者) Shen, Chung-Hua;Lee, Chien-Chiang;Lee, Chi-Chuan-
dc.creator (作者) 沈中華-
dc.date (日期) 2010-11-
dc.date.accessioned 18-Mar-2015 14:35:13 (UTC+8)-
dc.date.available 18-Mar-2015 14:35:13 (UTC+8)-
dc.date.issued (上傳時間) 18-Mar-2015 14:35:13 (UTC+8)-
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/73903-
dc.description.abstract (摘要) This paper re-examines the relationship between international capital flows and economic growth within the context of various ‘conditional factors’ that possibly have the potential to influence such relationships. It achieves this by employing panel data for 80 countries that cover 1976–2007. International capital inflow is broken down into foreign direct investments (FDI) and foreign portfolio investments (FPI). We find interesting evidence that only FDI has a positive effect on growth and that FPI has an unfavorable, if not negative, effect on growth. The conditional variables of banking liberalization, high-income level, twin crises, lower corruption, and human capital mitigate the positive impacts of FDI on growth. In contrast, the middle-income level and good shareholder protection have a positive effect. As concerns FPI, the level of financial liberalization, being in a Latin American region, the wealth of countries, and market governance all influence the way that FPI affects growth, whereas the conditional variables of twin crises and human capital do not influence the effect of FPI on economic growth.-
dc.format.extent 416011 bytes-
dc.format.extent 114 bytes-
dc.format.mimetype application/pdf-
dc.format.mimetype text/html-
dc.relation (關聯) Scottish Journal of Political Economy - SCOT J POLIT ECON-
dc.title (題名) WHAT MAKES INTERNATIONAL CAPITAL FLOWS PROMOTE ECONOMIC GROWTH? AN INTERNATIONAL CROSS-COUNTRY ANALYSIS-
dc.type (資料類型) articleen
dc.identifier.doi (DOI) 10.1111/j.1467-9485.2010.00529.xen_US
dc.doi.uri (DOI) http://dx.doi.org/10.1111/j.1467-9485.2010.00529.xen_US