Report

Cambridge University Press Books

Capital Mobility: The Impact on Consumption, Investment and Growth

The industrialized world has recently witnessed a dramatic increase in the volume of international capital movements in the forms of borrowing and lending, bond transactions and foreign direct investment. At the same time, many non-OECD countries have embarked on extensive programmes of capital market liberalization.
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 industrialized and developing countries. The contributions 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 government 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.

Citation

Razin, A and L Leiderman (eds) (1994), ‘Capital Mobility: The Impact on Consumption, Investment and Growth‘, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/capital-mobility-impact-consumption-investment-and-growth

Citation

Razin, A and L Leiderman (1994), ‘Introduction: Capital Mobility: The Impact on Consumption, Investment and Growth‘, in Razin, A and L Leiderman (eds), Capital Mobility: The Impact on Consumption, Investment and Growth, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/capital-mobility-impact-consumption-investment-and-growth

Citation

Obstfeld, M and B Bental (1994), ‘Are industrial-country consumption risks globally diversified?‘, in Razin, A and L Leiderman (eds), Capital Mobility: The Impact on Consumption, Investment and Growth, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/capital-mobility-impact-consumption-investment-and-growth

Citation

Rose, A, E Mendoza, A Razin and V Grilli (1994), ‘Business-cycle volatility and openness: an exploratory cross-sectional analysis‘, in Razin, A and L Leiderman (eds), Capital Mobility: The Impact on Consumption, Investment and Growth, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/capital-mobility-impact-consumption-investment-and-growth

Citation

Mendoza, E, J Zeria and J Huizinga (1994), ‘The robustness of macroeconomic indicators of capital mobility‘, in Razin, A and L Leiderman (eds), Capital Mobility: The Impact on Consumption, Investment and Growth, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/capital-mobility-impact-consumption-investment-and-growth

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Rose, A, L Svensson and S Kandel (1994), ‘An interpretation of recent research on exchange rate target zones‘, in Razin, A and L Leiderman (eds), Capital Mobility: The Impact on Consumption, Investment and Growth, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/capital-mobility-impact-consumption-investment-and-growth

Citation

Svensson, L, L Leiderman, A Cukierman, M Kiguel and G Bertola (1994), ‘Some evidence on a strategic model of exchange rate bands‘, in Razin, A and L Leiderman (eds), Capital Mobility: The Impact on Consumption, Investment and Growth, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/capital-mobility-impact-consumption-investment-and-growth

Citation

Melnick, R and J Huizinga (1994), ‘Exchange rate volatility, uncertainty, and investment: an empirical investigation‘, in Razin, A and L Leiderman (eds), Capital Mobility: The Impact on Consumption, Investment and Growth, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/capital-mobility-impact-consumption-investment-and-growth

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Helpman, E and D Cohen (1994), ‘Foreign finance and economic growth: an empirical analysis‘, in Razin, A and L Leiderman (eds), Capital Mobility: The Impact on Consumption, Investment and Growth, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/capital-mobility-impact-consumption-investment-and-growth

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Yuen, C, O Sussman, P Weil and A Razin (1994), ‘Convergence in growth rates: a quantitative assessment of the role of capital mobility and international taxation‘, in Razin, A and L Leiderman (eds), Capital Mobility: The Impact on Consumption, Investment and Growth, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/capital-mobility-impact-consumption-investment-and-growth

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Sussman, N, A Drazen, G Milesi-Ferretti and G Bertola (1994), ‘Will government policy magnify capital flow volatility?‘, in Razin, A and L Leiderman (eds), Capital Mobility: The Impact on Consumption, Investment and Growth, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/capital-mobility-impact-consumption-investment-and-growth

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Shachar, R, M Pagano, V Grilli, G Milesi-Ferretti and A Alesina (1994), ‘The political economy of capital controls‘, in Razin, A and L Leiderman (eds), Capital Mobility: The Impact on Consumption, Investment and Growth, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/capital-mobility-impact-consumption-investment-and-growth

Citation

Rojas-Suarez, L, E Yashiv and D Mathieson (1994), ‘Capital controls and capital account liberalisation in industrial countries‘, in Razin, A and L Leiderman (eds), Capital Mobility: The Impact on Consumption, Investment and Growth, CEPR Press, Paris & London. https://cepr.org/publications/books-and-reports/capital-mobility-impact-consumption-investment-and-growth