International capital market integration: Implications for convergence, growth, and welfare
نویسندگان
چکیده
منابع مشابه
Capital Market Integration and Wages
For three years after the typical emerging economy opens its stock market to inflows of foreign capital, the average annual growth rate of the real wage in the manufacturing sector increases by a factor of three. No such increase occurs in a control group of countries that do not liberalize. The temporary increase in the growth rate of the real wage drives up the level of average annual compens...
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ژورنال
عنوان ژورنال: International Economics and Economic Policy
سال: 2004
ISSN: 1612-4804,1612-4812
DOI: 10.1007/s10368-004-0017-6