the long-term vs. short term impact of international capital flow on economic growth_arnar ingi...

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, )


6/22

Y

ST F

K

F DI

L

H

RD &

RES

IN T

DEBT

CRI

OPEN

ANTI

CRED

EFJS

CP I

MR


7/22

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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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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R2

p < 0.05

p < 0.01

p < 0.001


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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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p < 0.05

p < 0.01

p < 0.001


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the long-term vs. short term impact of international capital flow on economic growth_arnar ingi...

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