Capital mobility
Subtitle: the impact on consumption, investment, and growth
By: edited by Leonardo Leiderman and Assaf Razin.
Contributors: Leiderman, Leonardo, 1951-; Razin, Assaf.; Centre for Economic Policy Research (Great Britain); Banḳ Yiśraʼel.; Merkaz le-fituaḥ ʻal-shem P. Sapir.
Publisher: Cambridge University Press
Published: 1994
Place of publication: Cambridge [England]; New York, NY
Language: eng
Number of pages: 356
Subjects: Capital movements -- Congresses.; Foreign exchange -- Congresses.; Capital investments -- Congresses.; Investments, Foreign -- Congresses.
Description: The industrialised world has recently witnessed a dramatic increase in the volume of international capital movements in the forms of borrowing and lending, bond tranactions and foreign direct investment. At the same time, many non-OECD countries have embarked on extensive programmes of capital market liberalisation.

This volume, drawn from the proceedings of a CEPR conference with the Bank of Israel and the Pinhas Sapir Center for Development, Tel Aviv University, examines the implications of this increased international capital mobility for both industrialised and developing countries. The contributors look at the effect of recent developments on economic fluctuations, and on fiscal and monetary policies under alternative exchange rate regimes.

They also address the erosion of capital taxation as a source of govemment revenue, the contribution of mobile capital to development with 'endogenous growth', the role of mobile capital in reducing unemployment where there are large-scale population flows, and the convergence of national growth rates.
Notes: Includes bibliographical references and index.
Proceedings of a CEPR conference with the Bank of Israel and the Pinhas Sapir Center for Development, Tel Aviv University.