the long-term vs. short term impact of international capital flow on economic growth_arnar ingi...
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8/6/2019 The Long-term vs. Short Term Impact of International Capital Flow on Economic Growth_Arnar Ingi Einarsson
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&
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y f(NR,TR,HR,FI ,I I )
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y F DI + Investments
Investments Internal(Funds+Equity+Debt)+External(Equity+Debt)
y F DI +
+
STF
+
y f(NR,TR,HR,FI ,I I ,FDI ,S TF, )
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8/6/2019 The Long-term vs. Short Term Impact of International Capital Flow on Economic Growth_Arnar Ingi Einarsson
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Y
ST F
K
F DI
L
H
RD &
RES
IN T
DEBT
CRI
OPEN
ANTI
CRED
EFJS
CP I
MR
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yi,t = 0+1F DIi,t+2ST Fi,t+3V ST Fi,t+4ki,t+5li,t+6hi,t+Dt+Di+i,t
yi,t = ln (yi,t/yi,t1) i t F DI ST F V S T F
Dt Di
V ST Ft =1
n 1ST Ft =
1
n 1
n
t=2
|ST Ft ST Ft1|
1
k = ln (kt/kt1)
i
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8/6/2019 The Long-term vs. Short Term Impact of International Capital Flow on Economic Growth_Arnar Ingi Einarsson
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8/6/2019 The Long-term vs. Short Term Impact of International Capital Flow on Economic Growth_Arnar Ingi Einarsson
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y F DI + ST F + V S T F
y F DI + ST F + V S T F + k + l + h + q
y F DI + ST F + V S T F + k + q Dm = {0, 1}
y F DI + ST F + V S T F + k + q + Dt Dm = {0, 1}
y F DI + ST F + V S T F + k + q + Di + Dt Dm = {0, 1}
Dm = {0, 1}
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8/6/2019 The Long-term vs. Short Term Impact of International Capital Flow on Economic Growth_Arnar Ingi Einarsson
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R2
p < 0.05
p < 0.01
p < 0.001
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8/6/2019 The Long-term vs. Short Term Impact of International Capital Flow on Economic Growth_Arnar Ingi Einarsson
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8/6/2019 The Long-term vs. Short Term Impact of International Capital Flow on Economic Growth_Arnar Ingi Einarsson
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V ST F1
V ST F2
V ST F
V S T F standard
R2
p < 0.05
p < 0.01
p < 0.001
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R2
p < 0.05
p < 0.01
p < 0.001
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8/6/2019 The Long-term vs. Short Term Impact of International Capital Flow on Economic Growth_Arnar Ingi Einarsson
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8/6/2019 The Long-term vs. Short Term Impact of International Capital Flow on Economic Growth_Arnar Ingi Einarsson
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p < 0.05
p < 0.01
p < 0.001
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