International Capital Flows When Safe Assets Scarcity Matters

被引：0
|
作者：
Hung, Ly Dai [1 ,2 ]
Hoan, Nguyen Thi Thuy [3 ]
机构：
[1] Vietnam Cent Econ Commiss, A4 Bldg,Nguyen Canh Chan St, Hanoi, Vietnam
[2] Thang Long Inst Math & Appl Sci TIMAS, Hanoi, Vietnam
[3] State Secur Commiss Vietnam, Hanoi, Vietnam
来源：
SOUTH ASIAN JOURNAL OF MACROECONOMICS AND PUBLIC FINANCE | 2022年 / 11卷 / 02期
关键词：
International capital flows; safe assets; public debts; instrument-variable regression; PUBLIC DEBT;
D O I：
10.1177/2277978721989934
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In an open multi-country economy, the safe assets supply shapes the pattern of international capital flows. A higher productivity growth rate raises the net capital inflows for economies with abundant safe assets, but reduces the net capital inflows for economies with scarce safe assets. The cross-section analysis on a sample of 170 economies over 1980-2013 confirms the theory. The evidence is robust for instrument-variable (IV) analysis method.
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页码：151 / 167
页数：17
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