The directions of capital flows with special consideration of net foreign direct investment in the world in the years 2004 ? 2006
DOI:
https://doi.org/10.12775/EQUIL.2008.003Abstract
The article concentrates on the problem of capital flows in the world with special consideration of foreign direct investment. It touches their influence on sustainable growth of some regions of world economy and some chosen countries. The aim of the paper is to show the main direction of capital flows and to point their main determinants. The article presents some theoretical arguments concerning capital flows that are based on neoclassical growth model of Robert Solow. Another problem that is taken into considerations is an ability of modern economic theory to explain some anomalies that can be seen in the data on net foreign direct investment in the world.
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References
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Barro R. J., 1997 ? Makroekonomia. Warszawa, Polskie Wydawnictwo Ekonomiczne.
Diamond J. M., 2000 - Strzelby, zarazki, maszyny: los ludzkich społeczeństw. Warszawa, Prószyński i Ska.
Eichengreen B., Hausmann R., 1999- Exchange Rate and Financial Fragility, w: New Challenges for Monetary Policy, Federal Reserve Bank of Kansas City. Kansas City.
Kose M. A., Prasad E., Rogoff K., Wei S., 2006 - Financial Globalization: A Reappraisal, IMF Working Paper WP/06/189.
Krugman P. R., M. Obstfeld, 2007 - Ekonomia międzynarodowa. Teoria i praktyka. Tom 2., Warszawa, Wydawnictwo Naukowe PWN.
Lucas R. E. , 1990 - Why Doesn?t Capital Flow form Rich to Poor Countries? American Economic Review, 1990. Vol. 80., No. 2.
Mello de L.., 1999 - Foreign Direct Investment-Led Growth: Evidence from Time Series and Panel Data. Oxford Economic Policy, Vol. 51.
Prasad E., Rajan R. G., Subramanian A., Patterns of International Capital Flows and Their Implications for Economic Development. http://www.kansascityfed.org/PUBLICAT/SYMPOS/2006/pdf/11Rajan.pdf.
Solow R., 1956 - A Contribution to the Theory of Economic Growth, Quarterly Journal of Economics, Vol. 70.
World Investment Report 2007: Transnational Corporations, Extractive Industries and Development, 2007 - United Nations, New York and Genewa.
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Published
31-12-2008
Issue
Section
Capital flows determinants
How to Cite
Rogalska, E. (2008). The directions of capital flows with special consideration of net foreign direct investment in the world in the years 2004 ? 2006. Equilibrium. Quarterly Journal of Economics and Economic Policy, 1(1-2), 41-54. https://doi.org/10.12775/EQUIL.2008.003
