Replication data for: Domestic Institutions and the Bypass Effect of Financial Globalization
Principal Investigator(s): View help for Principal Investigator(s) Jiandong Ju; Shang-Jin Wei
Version: View help for Version V1
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data-file-7-21-2010 | 10/13/2019 06:21:AM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/13/2019 02:21:AM |
Project Citation:
Ju, Jiandong, and Wei, Shang-Jin. Replication data for: Domestic Institutions and the Bypass Effect of Financial Globalization. Nashville, TN: American Economic Association [publisher], 2010. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-13. https://doi.org/10.3886/E114746V1
Project Description
Summary:
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This paper proposes a simple model to study how domestic institutions affect patterns of international capital flows. Inefficient financial system, and poor corporate governance, may be bypassed by two-way capital flows in which domestic savings leave the country
in the form of financial capital outflows but domestic investment takes place via inward FDI. While financial globalization always improves the welfare of a developed country with a good financial system, its effect is ambiguous for a developing country with an inefficient financial sector or poor corporate governance. Interestingly,
financial and property rights institutions can have opposite effects on capital flows. (JEL D02, E21, F21, F32, G34)
Scope of Project
JEL Classification:
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D02 Institutions: Design, Formation, Operations, and Impact
E21 Macroeconomics: Consumption; Saving; Wealth
F21 International Investment; Long-term Capital Movements
F32 Current Account Adjustment; Short-term Capital Movements
G34 Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
D02 Institutions: Design, Formation, Operations, and Impact
E21 Macroeconomics: Consumption; Saving; Wealth
F21 International Investment; Long-term Capital Movements
F32 Current Account Adjustment; Short-term Capital Movements
G34 Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
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