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EXTERNAL CAPITAL FLOWS AND WELFARE IN DEVELOPINGCOUNTRIES
Theory and empirics
- Editore:
VDM Verlag
- EAN:
9783639149791
- ISBN:
3639149793
- Pagine:
- 156
- Formato:
- Paperback
- Lingua:
- Tedesco
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Descrizione EXTERNAL CAPITAL FLOWS AND WELFARE IN DEVELOPINGCOUNTRIES
This book studies the welfare effects of externalcapital flows in small open developing countries withspecial emphasis on primary commodity export dependentcountries. Welfare cost of macroeconomic volatilityin the developing countries is several times largerthan that in the developed countries. Further, mostof this macroeconomic volatility is a result ofexogenous shocks such as terms of trade or worldprice changes. External capital flows (coming largelyfrom official creditors in the case of developingcountries)havethe potential to reduce these fluctuations. Focusingin particular on aid flows and external debt, I findthat indexing these flows to external shocks cansignificantly improve the welfare outcome indeveloping countries.
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