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    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/101391


    Title: Dynamic Effects of Financial Openness on Economic Growth and Macroeconomic Uncertainty
    Authors: Kim, Dong-Hyeon;Lin, Shu-Chin;Suen, Yu-Bo
    Contributors: 淡江大學經濟學系
    Keywords: economic growth;financial openness;macroeconomic uncertainty;pooled mean group estimator
    Date: 2012
    Issue Date: 2015-04-23 10:38:41 (UTC+8)
    Publisher: Armonk: M.E. Sharpe, Inc.
    Abstract: This paper examines the dynamic effects of financial integration and foreign direct investment (FDI) on economic growth and macroeconomic uncertainty. Using the pooled mean group autoregressive distributed lag approach to annual data over 1975-2007 for ninety developing countries, we find that financial integration contributes to faster economic growth and lower growth uncertainty in the long run. The evidence also shows considerable heterogeneity in the short run. In addition, we find that FDI impedes output growth but mitigates uncertainty in output and consumption growth in the long run. In the short run, FDI has an average negative effect on growth and negligible effect on growth uncertainty, but there are large cross-country differences in response to FDI ntegration.
    Relation: Emerging Markets Finance and Trade 48(1), pp.25-54
    Appears in Collections:[經濟學系暨研究所] 期刊論文

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