Three essays on different nature and effects of capital flows among Asian and Latin American countries
This dissertation contains three essays on the distinct nature and effects of capital flows on Asian and Latin American countries. Chapter I presents a Post-Keynesian open economy model to investigate the possible effects of capital flows on capacity utilization and distribution in Asian and Latin American countries. In the case of Asian countries, capital flows increase labor productivity through spill-over effects. The increase in labor productivity leads to a decrease in wage share of workers from national income which leads to lower prices. Lower price level results in real exchange rate ...
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