Please use this identifier to cite or link to this item: https://ir.iimcal.ac.in:8443/jspui/handle/123456789/4113
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dc.contributor.authorSeth, A. K.
dc.contributor.authorVarma, Sumati
dc.date.accessioned2022-11-09T09:37:19Z
dc.date.available2022-11-09T09:37:19Z
dc.date.issued2009
dc.identifier.issn0304-0941
dc.identifier.urihttps://ir.iimcal.ac.in:8443/jspui/handle/123456789/4113
dc.descriptionBiosketch: Professor, Department of Commerce, Delhi School of Economics, University of Delhi, New Delhi ; Sri Aurobindo College, University of Delhi, New Delhi.en_US
dc.descriptionp55-71. 17p. 7 Charts.
dc.description.abstractThis paper investigates the link between capital account liberalization and growth for a cross - section of seventeen developing countries, including India, both theoretically and empirically. It also explores the different measures of capital account openness and the empirical evidence on the association between financial openness and growth. Theoretically, capital account openness leads to growth through two main channels: increase in aggregate investment and an improvement in productivity and efficiency. Existing empirical evidence however suggests that the link between capital account openness and economic growth is weak. The paper uses a de jure measure of capital account convertibility, calculated as the proportion of capital flows to total flow of funds. The results find a positive association between financial openness and growth. However growth is associated with an increase in the efficiency of inputs rather than due to an increase in investment per se.en_US
dc.language.isoen_USen_US
dc.publisherIndian Institute of Management Calcutta, Kolkataen_US
dc.relation.ispartofseriesVol.36;No.1
dc.subjectCapital movementsen_US
dc.subjectEconomic developmenten_US
dc.subjectFinanceen_US
dc.subjectDeveloping countriesen_US
dc.titleCapital Account Convertibility and Growth: A Developing Country Perspectiveen_US
dc.typeArticleen_US
Appears in Collections:Issue 1, April-June 2009

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