The threshold consumption correlation-based approach to international capital mobility: Evidence from advanced and developing countries

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Abstract

Using the consumption correlation-based criterion, this paper analyzes international capital mobility for both advanced and developing countries. We provide evidence that global capital markets are imperfectly integrated for both advanced and developing countries. However, a clear difference between these groups of countries emerges when their consumption growth has stagnated; in developing countries at such times, the opportunity to smooth their consumption drops dramatically.

Original languageEnglish
Pages (from-to)256-263
Number of pages8
JournalStructural Change and Economic Dynamics
Volume23
Issue number3
DOIs
Publication statusPublished - 2012 Sep 1
Externally publishedYes

Keywords

  • Consumption correlation
  • International capital mobility
  • Panel data approach
  • Threshold model

ASJC Scopus subject areas

  • Economics and Econometrics

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