Domestic Savings and International Capital Flows in the EU

Domestic Saving and International Capital Flows Reconsidered

A long literature since Feldstein and Horioka’s seminal contribution documents the strong correlation of domestic saving and investment rates since the 1960s. According to conventional wisdom, the result provides evidence of international capital market imperfections. The macroeconomic theory of small open economies prescribes a relationship between the composition of aggregate demand and its r...

Controlling International Capital Flows

The East Asian financial crisis in the late 1990s has challenged the widely-held belief that international financial markets should be deregulated. The common arguments both for and against free international capital flows are analysed and contrasted. Given the existence of various distortions and market failures in the global economy, there is a case for some degree of control. The extension a...

International Capital Flows

On the Road to Recovery? International Capital Flows and Domestic Financial Reforms in East Asia

ON THE ROAD TO RECOVERY? INTERNATIONAL CAPITAL FLOWS AND DOMESTIC FINANCIAL REFORMS IN EAST ASIA Ramkishen S. Rajan This paper discusses trends and patterns in international capital flows in the crisis affected East Asian economies during the bust period and eventual recovery that followed (1997 to early 2000). The economies have experienced a rapid rebound in regional economic activity, i.e. t...

The Impact of Integration on International Trade Flows: the Cases of EU, OIC & ECO

The growth of regional trade blocks has been one of the major developments in international relations in recent years. Regional agreements vary widely but, all have the objective of reducing barriers to trade between member countries that in most cases result in increasingly trade flows and economic growth. This paper attempts to explore the results of trade integration in ECO, EU and OIC block...