Replication data for: Productivity Growth and Capital Flows: The Dynamics of Reforms

Principal Investigator(s):  View help for Principal Investigator(s) Francisco J. Buera; Yongseok Shin

Version:  View help for Version V1

Name File Type Size Last Modified
  Fortran-Code 10/25/2021 01:20:PM
  HPR-PWT8 10/25/2021 01:20:PM
  Investment-Saving-and-Reform 10/25/2021 01:20:PM
LICENSE.txt text/plain 14.6 KB 10/12/2019 04:18:PM
read-me-overview.pdf application/pdf 35.9 KB 10/12/2019 04:18:PM

Project Citation: 

Buera, Francisco J., and Shin, Yongseok. Replication data for: Productivity Growth and Capital Flows: The Dynamics of Reforms. Nashville, TN: American Economic Association [publisher], 2017. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114146V1

Project Description

Summary:  View help for Summary Why doesn't capital flow into fast-growing countries? Using a model with heterogeneous producers and underdeveloped domestic financial markets, we explain the joint dynamics of total factor productivity (TFP) and capital flows. When a large-scale economic reform removes preexisting idiosyncratic distortions in a small open economy, its TFP rises, driven by efficient reallocation of economic resources. At the same time, because of the domestic financial frictions, saving rates surge but investment rates respond only with a lag, resulting in capital outflows. The dynamics of TFP, capital flows, and idiosyncratic distortions in the model are consistent with what is observed during growth acceleration episodes, which often follow large-scale economic reforms.

Scope of Project

Subject Terms:  View help for Subject Terms Dynamic programming
JEL Classification:  View help for JEL Classification
      E21 Macroeconomics: Consumption; Saving; Wealth
      E22 Investment; Capital; Intangible Capital; Capacity
      F21 International Investment; Long-term Capital Movements
      F32 Current Account Adjustment; Short-term Capital Movements
      O16 Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
      O47 Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
Data Type(s):  View help for Data Type(s) program source code


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V1 [2019-10-12]

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