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| Author: | Hussein, K. Mello, L. de, Jr. |
| Title: | International capital mobility in developing countries: theory and evidence |
| Journal: | Journal of International Money and Finance
1999 : JUN, VOL. 18:3, p. 367-382 |
| Index terms: | INTERNATIONAL CAPITAL DEVELOPING COUNTRIES |
| Language: | eng |
| Abstract: | Despite the importance of international capital mobility in influencing the outcome of stabilization policies, there is little research on the issue in developing countries. This paper tests the degree of capital mobility in nine developing countries, using the intertemporal consumption-smoothing framework. The authors find considerable evidence to suggest that capital is sufficiently mobile in the countries under examination to facilitate consumption smoothing in the events of shocks to the national cash flow. |
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