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Capital account liberalization and inequality

"This paper examines the distributional impact of capital account liberalization. Using panel data for 149 countries from 1970 to 2010, we find that, on average, capital account liberalization reforms increase inequality and reduce the labor share of income in the short and medium term. We also...

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Bibliographic Details
Main Authors: Furceri, Davide, Loungani, Prakash
Institution:ETUI-European Trade Union Institute
Format: TEXT
Language:English
Published: Washington, DC 2015
IMF
Subjects:
economic recession
globalization
social inequality
capital
Online Access:https://www.labourline.org/KENTIKA-19107809124919250819-Capital-account-liberalization.htm
Description
Summary:"This paper examines the distributional impact of capital account liberalization. Using panel data for 149 countries from 1970 to 2010, we find that, on average, capital account liberalization reforms increase inequality and reduce the labor share of income in the short and medium term. We also find that the level of financial development and the occurrence of crises play a key role in shaping the response of inequality to capital account liberalization reforms."
Physical Description:26 p.
Digital

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