Growing Up With Capital Flows

  title={Growing Up With Capital Flows},
  author={Ashoka Modya and Antu Panini Murshidb},
  • Ashoka Modya, Antu Panini Murshidb
  • Published 2004
We examine the capital flows-domestic investment relationship for 60 developing countries from 1979 to 1999. In the 1990s, even as liberalization attracted new flows, foreign capital stimulated less domestic investment than in the preceding decade. With greater financial integration, governments accumulated more international reserves and domestic residents… CONTINUE READING