TY  - RPRT
        AU  - Prasad, Eswar
AU  - Rajan, Raghuram G.
        TI  - A Pragmatic Approach to Capital Account Liberalization
        PY  - 2008/Apr/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 3475
        UR  - https://www.iza.org/index.php/publications/dp3475
        AB  - Cross-country regressions suggest little connection from foreign capital inflows to more rapid economic growth for developing countries and emerging markets. This suggests that the lack of domestic savings is not the primary constraint on growth in these economies, as implicitly assumed in the benchmark neoclassical framework. We explore emerging new theories on both the costs and benefits of capital account liberalization, and suggest how one might adopt a pragmatic approach to the process.
        KW  - collateral benefits
KW  - capital controls
KW  - capital account liberalization
KW  - thresholds
        ER  -