Financial openness, volatility, and the size of productive government
نویسندگان
چکیده
منابع مشابه
The Effect of Financial Openness Measure on the Government Size in Selected Countries
decline in private sector investment expenditures, crowding-out effect, lack of conditions for optimal allocation of resources, reduction inefficiency, and the possibility of increasing inequality in income distribution are considered as the effects of increasing the government size according to many theoretical studies and empirical evidence. Hence, identifying the determinants of the governm...
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Economic theory predicts that the integration of financial markets lowers the volatility of consumption. In this paper, we study long-term trends in the consumption volatility of the G7 countries. Using different measures of financial openness, we find some evidence that greater financial openness has been associated with lower consumption volatility. However, volatility of consumption relative...
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We analyze the implications of financial openness to macroeconomic volatility in a small open economy. The volatility of major macroeconomic aggregates shows non-monotonic pattern with respect to the degree of financial openness in the model without domestic financial frictions. The introduction of domestic financial frictions makes the volatility patterns flatter. Our model explains the lack o...
متن کاملTrade openness, capital openness and government size
This paper provides empirical evidence of the relation between trade openness, capital openness and government expenditures in a cross-sectional time-series context. It is shown that capital openness is significantly and negatively related to government expenditures in line with the conventional wisdom that capital mobility may undermine the ability of governments to maintain larger public sect...
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ژورنال
عنوان ژورنال: SERIEs
سال: 2010
ISSN: 1869-4187,1869-4195
DOI: 10.1007/s13209-010-0029-0