Capital flows to developing countries and terms of trade shocks

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This paper studies the relationship between FDI inflows and terms-of-trade shocks. We examine the existing literature related to the "Lucas Paradox", and analyze theoretically how a terms-of-trade shock would impact on less developed economies. We apply a xed eects generalized least square...

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Autores principales: Barone, Sergio, Descalzi, Ricardo
Formato: conferenceObject
Lenguaje:Inglés
Publicado: Banco Central del Uruguay 2021
Materias:
Capital flows
Terms of trade
Lucas Paradox
Acceso en línea:http://hdl.handle.net/11086/17581
Aporte de:
Repositorio Digital Universitario (UNC) de Universidad Nacional de Córdoba
id I10-R14111086-17581
record_format dspace
institution Universidad Nacional de Córdoba
institution_str I-10
repository_str R-141
collection Repositorio Digital Universitario (UNC)
language Inglés
topic Capital flows
Terms of trade
Lucas Paradox
spellingShingle Capital flows
Terms of trade
Lucas Paradox
Barone, Sergio
Descalzi, Ricardo
Capital flows to developing countries and terms of trade shocks
topic_facet Capital flows
Terms of trade
Lucas Paradox
description This paper studies the relationship between FDI inflows and terms-of-trade shocks. We examine the existing literature related to the "Lucas Paradox", and analyze theoretically how a terms-of-trade shock would impact on less developed economies. We apply a xed eects generalized least squares regression framework to regress FDI inflows on terms-of-trade shock alongside other control variables. We find that for the group of "developing" economies the estimated coecient of shocks to TOT are lower than that estimated for the group of advanced" economies. Then, less developed economies do not take advantage of positive global cycles because they are investment-constrained economies.
format conferenceObject
author Barone, Sergio
Descalzi, Ricardo
author_facet Barone, Sergio
Descalzi, Ricardo
author_sort Barone, Sergio
title Capital flows to developing countries and terms of trade shocks
title_short Capital flows to developing countries and terms of trade shocks
title_full Capital flows to developing countries and terms of trade shocks
title_fullStr Capital flows to developing countries and terms of trade shocks
title_full_unstemmed Capital flows to developing countries and terms of trade shocks
title_sort capital flows to developing countries and terms of trade shocks
publisher Banco Central del Uruguay
publishDate 2021
url http://hdl.handle.net/11086/17581
work_keys_str_mv AT baronesergio capitalflowstodevelopingcountriesandtermsoftradeshocks
AT descalziricardo capitalflowstodevelopingcountriesandtermsoftradeshocks
bdutipo_str Repositorios
_version_ 1764820393295609856

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