Capital flows to developing countries and terms of trade shocks
Fil: Barone, Sergio. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina.
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| Format: | conferenceObject |
| Language: | eng |
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Banco Central del Uruguay
2021
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| Online Access: | http://hdl.handle.net/11086/17581 |
| _version_ | 1806012344069783552 |
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| author | Barone, Sergio Descalzi, Ricardo |
| author_facet | Barone, Sergio Descalzi, Ricardo |
| author_sort | Barone, Sergio |
| collection | Repositorio Digital Universitario |
| description | Fil: Barone, Sergio. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina. |
| format | conferenceObject |
| id | rdu-unc.17581 |
| institution | Universidad Nacional de Cordoba |
| language | eng |
| publishDate | 2021 |
| publisher | Banco Central del Uruguay |
| record_format | dspace |
| spelling | rdu-unc.175812024-07-08T15:25:26Z Capital flows to developing countries and terms of trade shocks Barone, Sergio Descalzi, Ricardo Capital flows Terms of trade Lucas Paradox Fil: Barone, Sergio. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina. Fil: Descalzi, Ricardo. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina. This paper studies the relationship between FDI inflows and terms-of-trade shocks. We examine the existing literature related to the "Lucas Paradox", and analyze theoretically how a terms-of-trade shock would impact on less developed economies. We apply a xed eects generalized least squares regression framework to regress FDI inflows on terms-of-trade shock alongside other control variables. We find that for the group of "developing" economies the estimated coecient of shocks to TOT are lower than that estimated for the group of advanced" economies. Then, less developed economies do not take advantage of positive global cycles because they are investment-constrained economies. Este trabajo estudia la relación entre los flujos de entrada de inversión externa directa ("FDI inflows") y los términos de intercambio. Se examina la literatura existente sobre la denominada "Paradoja de Lucas", y se analiza teóricamente el impacto de los shocks en los términos de intercambio en las economías menos desarrolladas. Se aplica una regresión de mínimos cuadrados generalizados con efectos fijos, utilizando como variable dependiente a los "FDI inflows"; los términos de intercambio actúan como variable independiente. Entonces, los países en desarrollo no aprovecharían completamente los ciclos globales positivos, dado que se trata de economías con restricciones para invertir. www.bcu.gub.uy Fil: Barone, Sergio. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina. Fil: Descalzi, Ricardo. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina. Economía, Econometría 2021-04-03T20:03:43Z 2021-04-03T20:03:43Z 2013-11 conferenceObject http://hdl.handle.net/11086/17581 eng Atribución-NoComercial-CompartirIgual 4.0 Internacional http://creativecommons.org/licenses/by-nc-sa/4.0/ Electrónico y/o Digital Banco Central del Uruguay |
| spellingShingle | Capital flows Terms of trade Lucas Paradox Barone, Sergio Descalzi, Ricardo Capital flows to developing countries and terms of trade shocks |
| title | Capital flows to developing countries and terms of trade shocks |
| title_full | Capital flows to developing countries and terms of trade shocks |
| title_fullStr | Capital flows to developing countries and terms of trade shocks |
| title_full_unstemmed | Capital flows to developing countries and terms of trade shocks |
| title_short | Capital flows to developing countries and terms of trade shocks |
| title_sort | capital flows to developing countries and terms of trade shocks |
| topic | Capital flows Terms of trade Lucas Paradox |
| url | http://hdl.handle.net/11086/17581 |
| work_keys_str_mv | AT baronesergio capitalflowstodevelopingcountriesandtermsoftradeshocks AT descalziricardo capitalflowstodevelopingcountriesandtermsoftradeshocks |