In Search of the Macroeconomic Effects of Capital Account Liberalization

By Aart C. Kraay. 2002

246 citations recorded by the source corpus.

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Citations in the corpus

Financial Integration, Investment, and Economic Growth: Evidence from Two Eras of Financial Globalization (2010, background): “Kraay (1998) and Edison et al. (2004) looked at various measures of gross capital flows and stocks over GDP as quantitative indicators for the degree of international financial integration.”
Capital Flows and Crises (2003, methodology): “Kraay (1998) and Swank (1998) use actual capital inflows and outflows as a percentage of GDP as a measure of the freedom of capital movements.”
Financial Globalization and Economic Policies (2009, unknown): “For instance, Krugman (2002) has argued that “. . .growing integration does predispose the world economy toward more crises, mainly because it creates pressures on governments to relax financial restrictions that in earlier decades made 1990s-style financial crises much less likely.” He goes on to s”
Thresholds in the Process of International Financial Integration (2009, methodology): “Using broader measures of financial openness, Prasad et al. (2007) find evidence of high/low interaction effects among non-industrial countries (also see Klein and Olivei, 2001; Chinn and Ito, 2006; Coricelli et al., 2008) but Kraay (1998) and Arteta et al. (2003) do not.”
Is Financial Globalization Beneficial (2007, background): “Some of the most cited papers in this literature are Alesina, Grilli and Milesi-Ferretti, (2004), Quinn (1997), Kraay (1998), Rodrik (1998), Tornell, Westermann and -48- Martinez (2004), Arteta, Eichengreen and Wyplosz (2001), Edwards (2001) and Edison, Levine, Ricci and Slok (2002).”
Financial Globalization: A Reappraisal (2009, background): “…specifications where capital account openness is measured using de facto measures tend to lend more support for the potential growth enhancing effects of financial integration than those employing de jure measures (see Kraay, 1998; O’ Donnell, 2001; and Edison, Levine, Ricci, and Slok, 2002).”