Gross capital flows and their long-term determinants for developing economies : a panel co-integration approach

Borradores de Economia
Number: 
932
Published: 
Classification JEL: 
F21, F32, F36, C5
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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The purpose of this paper is to estimate a model for gross capital flows for a sample of developing economies and assess their long-term determinants by using a panel cointegration approach. Results indicate that there is a co-integration relationship bet