Endogenous borrowing constraints and stagnation in Latin America
In: Journal of economic dynamics & control, Band 109, S. 103774
ISSN: 0165-1889
17 Ergebnisse
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In: Journal of economic dynamics & control, Band 109, S. 103774
ISSN: 0165-1889
In: Economic Synopses, Issue 24, 2015
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In: FRB St. Louis Working Paper No. 2022-28
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In: FRB of Dallas Working Paper No. 2111
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In: FRB St. Louis Working Paper No. 2020-41
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In: Economic Synopses, Issue 23, 2015
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In: Economic Synopses, Issue 20, pp. 1-2, 2016
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In: FRB of Dallas Working Paper No. 1610
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Working paper
In: FRB St. Louis Working Paper No. 2018-32
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Working paper
In: Review, Band 98, Heft 3, S. 239-61
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In: American economic review, Band 108, Heft 12, S. 3541-3582
ISSN: 1944-7981
After World War II, international capital flowed into slow-growing Latin America rather than fast-growing Asia. This is surprising as, everything else equal, fast growth should imply high capital returns. This paper develops a capital flow accounting framework to quantify the role of different factor market distortions in producing these patterns. Surprisingly, we find that distortions in labor markets, rather than domestic or international capital markets, account for the bulk of these flows. Labor market distortions that indirectly depress investment incentives by lowering equilibrium labor supply explain two-thirds of observed flows, while improvement in these distortions over time accounts for much of Asia's rapid growth. (JEL E22, E24, E32, F21, F32, O16, O47)
In: Economic Synopses, Issue 22, pp. 1-2, 2016
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In: NBER Working Paper No. w21744
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