Why Foreign Savings Fail to Cause Growth
Author
Abstract
Suggested Citation
DOI: 10.2753/IJP0891-1916380304
Download full text from publisher
As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.
Other versions of this item:
- Luiz Carlos Bresser-Pereira & Paulo Gala, 2007. "Why foreign savings fail to cause growth," Brazilian Journal of Political Economy, Center of Political Economy, vol. 27(1), pages 3-19.
- Gala, Paulo & Bresser-Pereira, Luiz Carlos, 2008. "Why foreign savings fail to cause growth," Textos para discussão 159, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
References listed on IDEAS
- Luiz Carlos Bresser-Pereira & Carmen Augusta Varela, 2004. "The second Washington consensus and Latin America's quasi-stagnation," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 27(2), pages 231-250.
- Reinhart, Carmen & Calvo, Guillermo & Leiderman, Leonardo, 1992.
"Capital Inflows and Real Exchange Rate Appreciation in Latin America,"
MPRA Paper
13843, University Library of Munich, Germany.
- Reinhart, Carmen & Calvo, Guillermo & Leiderman, Leonardo, 1995. "Capital inflows to Latin America with reference to the Asian experience," MPRA Paper 13840, University Library of Munich, Germany.
- Luiz Carlos Bresser-Pereira & Yoshiaki Nakano, 2003.
"Economic growth with foreign savings?,"
Brazilian Journal of Political Economy, Center of Political Economy, vol. 23(2), pages 163-188.
- Bresser-Pereira, Luiz Carlos & Nakano, Yoshiaki, 2002. "Economic growth with foreign saving?," Textos para discussão 118, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
- Sebastian Edwards, 1995. "Why are Saving Rates so Different Across Countries?: An International Comparative Analysis," NBER Working Papers 5097, National Bureau of Economic Research, Inc.
- Feldstein, Martin & Horioka, Charles, 1980.
"Domestic Saving and International Capital Flows,"
Economic Journal, Royal Economic Society, vol. 90(358), pages 314-329, June.
- Martin Feldstein & Charles Horioka, 1979. "Domestic Savings and International Capital Flows," NBER Working Papers 0310, National Bureau of Economic Research, Inc.
- Bhaduri, Amit & Marglin, Stephen, 1990. "Unemployment and the Real Wage: The Economic Basis for Contesting Political Ideologies," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 14(4), pages 375-393, December.
- Sinn, Stefan, 1992. "Saving-Investment Correlations and Capital Mobility: On the Evidence from Annual Data," Economic Journal, Royal Economic Society, vol. 102(414), pages 1162-1170, September.
- Catherine Pattillo & Hélène Poirson & Luca Antonio Ricci, 2011.
"External Debt and Growth,"
Review of Economics and Institutions, Università di Perugia, vol. 2(3).
- Ms. Hélène Poirson & Mr. Luca A Ricci & Ms. Catherine A Pattillo, 2002. "External Debt and Growth," IMF Working Papers 2002/069, International Monetary Fund.
- Reinhart, Carmen M. & Talvi, Ernesto, 1998.
"Capital flows and saving in Latin America and Asia: a reinterpretation,"
Journal of Development Economics, Elsevier, vol. 57(1), pages 45-66, October.
- Reinhart, Carmen & Talvi, Ernesto, 1998. "Capital flows and saving in Latin America and Asia: A reinterpretation," MPRA Paper 13704, University Library of Munich, Germany.
- Cohen, Daniel, 1993.
"Growth and external debt,"
CEPREMAP Working Papers (Couverture Orange)
9302, CEPREMAP.
- Cohen, Daniel, 1993. "Growth and External Debt," CEPR Discussion Papers 778, C.E.P.R. Discussion Papers.
- Schmidt-Hebbel, Klaus & Webb, Steven B & Corsetti, Giancarlo, 1992.
"Household Saving in Developing Countries: First Cross-Country Evidence,"
The World Bank Economic Review, World Bank, vol. 6(3), pages 529-547, September.
- Schmidt-Hebbel, Klaus & Webb, Steven B. & Corsetti,, 1991. "Household saving in developing countries : first cross-country evidence," Policy Research Working Paper Series 575, The World Bank.
- Carmen Reinhart, 1997. "Capital inflows to Latin America with reference to the Asian experience Book Title:Capital Controls, Exchange Rates, and Monetary Policy in the World Economy," Cambridge Books, Cambridge University Press, number 9780521597111-13.
- Luiz Carlos Bresser-Pereira, 2002. "Brazil's Quasi-Stagnation and the Growth cum Foreign Savings Strategy," International Journal of Political Economy, Taylor & Francis Journals, vol. 32(4), pages 76-102.
- Coakley, Jerry & Kulasi, Farida & Smith, Ron, 1996. "Current Account Solvency and the Feldstein-Horioka Puzzle," Economic Journal, Royal Economic Society, vol. 106(436), pages 620-627, May.
- Barry Eichengreen & David Leblang, 2003.
"Capital account liberalization and growth: was Mr. Mahathir right?,"
International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 8(3), pages 205-224.
- Barry Eichengreen & David Leblang, 2003. "Capital Account Liberalization and Growth: Was Mr. Mahathir Right?," NBER Working Papers 9427, National Bureau of Economic Research, Inc.
- Bresser-Pereira, Luiz Carlos, 2002. "Financiamento para o subdesenvolvimento, o Brasil e o segundo consenso de Washington," Textos para discussão 119, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
- Fry, Maxwell J, 1978. "Money and Capital or Financial Deepening in Economic Development?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 10(4), pages 464-475, November.
- Reinhart, Carmen & Calvo, Guillermo & Leiderman, Leonardo, 1994.
"Capital Inflows to Latin America: The 1970s and 1990s,"
MPRA Paper
8196, University Library of Munich, Germany.
- Reinhart, Carmen & Leiderman, Leonardo, 1994. "Capital inflows to Latin America," MPRA Paper 13406, University Library of Munich, Germany.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Bresser-Pereira, Luiz Carlos, 2008. "National development strategy: the key growth institution," Textos para discussão 161, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
- Luiz Carlos Bresser-Pereira, 2010.
"The global financial crisis and a new capitalism?,"
Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 32(4), pages 499-534, July.
- Luiz Carlos Bresser-Pereira, 2010. "The Global Financial Crisis and a New Capitalism?," Economics Working Paper Archive wp_592, Levy Economics Institute.
- BONGA-BONGA, Lumengo & GUMA, Nomvuyo, 2017.
"The Relationship Between Savings And Economic Growth At The Disaggregated Level,"
Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 70(1), pages 1-24.
- Guma, Nomvuyo & Bonga-Bonga, Lumengo, 2016. "The relationship between savings and economic growth at the disaggregated level," MPRA Paper 72131, University Library of Munich, Germany.
- Bresser-Pereira, Luiz Carlos & Rossi, Pedro, 2014. "Sovereignty, exchange rate and the Euro crisis," Textos para discussão 371, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
- Gruber, Aaron, 2023. "Navigating a world of constraints: Developmentalism, industrial policy, and the limits to structural transformation in Ethiopia," ÖFSE-Forum, Austrian Foundation for Development Research (ÖFSE), volume 87, number 287748.
- Magdalena Correo Henao & Daniela Amaya Castro & Mario Andrés Ospina Ramírez & Federico Suárez Ricaurte, 2021. "Pobreza y desigualdad prospectiva 2030. XXI jornadas de derecho constitucional constitucionalismo en ransformación. Prospectiva 2030," Books, Universidad Externado de Colombia, Facultad de Derecho, number 1298, htpr_v3_i.
- Luiz Carlos Bresser-Pereira, 2012.
"Structuralist macroeconomics and the new developmentalism,"
Brazilian Journal of Political Economy, Center of Political Economy, vol. 32(3), pages 347-366.
- Bresser-Pereira, Luiz Carlos, 2011. "Structuralist macroeconomics and new developmentalism," Textos para discussão 298, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
- Mario Pečarić & Tino Kusanović & Pavle Jakovac, 2021. "The Determinants of FDI Sectoral Structure in the Central and East European EU Countries," Economies, MDPI, vol. 9(2), pages 1-16, April.
- Dani Rodrik & Arvind Subramanian, 2009. "Why Did Financial Globalization Disappoint?," IMF Staff Papers, Palgrave Macmillan, vol. 56(1), pages 112-138, April.
- Bresser-Pereira, Luiz Carlos, 2009. "The global financial crisis and after: a new capitalism?," Textos para discussão 240, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
- Bresser-Pereira, Luiz Carlos & Feijó, Carmem & Araújo, Eliane Cristina de, 2022. "The determination of the exchange rate: a new-developmental approach," Textos para discussão 558, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
- Bresser-Pereira, Luiz Carlos, 2017. "The economics and the political economy of new-developmentalism," Textos para discussão 464, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Luiz Carlos Bresser-Pereira & Paulo Gala, 2008. "Foreign savings, insufficiency of demand, and low growth," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 30(3), pages 315-334, April.
- Bresser-Pereira, Luiz Carlos & Gala, Paulo, 2005. "Crítica do crescimento com poupança externa," Textos para discussão 145, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
- Luiz Carlos Bresser-Pereira & Yoshiaki Nakano, 2003.
"Economic growth with foreign savings?,"
Brazilian Journal of Political Economy, Center of Political Economy, vol. 23(2), pages 163-188.
- Bresser-Pereira, Luiz Carlos & Nakano, Yoshiaki, 2002. "Economic growth with foreign saving?," Textos para discussão 118, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
- Herwartz, H. & Xu, F., 2010.
"A functional coefficient model view of the Feldstein-Horioka puzzle,"
Journal of International Money and Finance, Elsevier, vol. 29(1), pages 37-54, February.
- Herwartz, Helmut & Xu, Fang, 2007. "A functional coefficient model view of the Feldstein-Horioka puzzle," Economics Working Papers 2007-14, Christian-Albrechts-University of Kiel, Department of Economics.
- Baharumshah, Ahmad Zubaidi & Thanoon, Marwan A. & Rashid, Salim, 2003. "Saving dynamics in the Asian countries," Journal of Asian Economics, Elsevier, vol. 13(6), pages 827-845, January.
- Bresser-Pereira, Luiz Carlos, 2016. "Why the ‘Rest’ doesn’t need foreign finance," Textos para discussão 415, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
- Maurice Obstfeld., 1998.
"Foreign Resource Inflows, Saving, and Growth,"
Center for International and Development Economics Research (CIDER) Working Papers
C98-099, University of California at Berkeley.
- Obstfeld, Maurice, 1998. "Foreign Resource Inflows, Saving, and Growth," Center for International and Development Economics Research (CIDER) Working Papers 233618, University of California-Berkeley, Department of Economics.
- Fang Xu & Helmut Herwartz, 2006. "What determines the relation between domestic saving and investment? - a new look at the Feldstein-Horioka puzzle," EcoMod2006 272100105, EcoMod.
- Smruti Ranjan Behera, 2017. "Saving–Investment Dynamics And Capital Mobility In The Newly Industrialized Countries," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 62(02), pages 403-422, June.
- Manuchehr Irandoust, 2019. "Saving and investment causality: implications for financial integration in transition countries of Eastern Europe," International Economics and Economic Policy, Springer, vol. 16(2), pages 397-416, April.
- Rustam Jamilov, 2013.
"J-Curve Dynamics and the Marshall–Lerner Condition: Evidence from Azerbaijan,"
Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 19(3), pages 313-323, February.
- Jamilov, Rustam, 2013. "Capital mobility in the Caucasus," Economic Systems, Elsevier, vol. 37(2), pages 155-170.
- Chakrabarti, Avik, 2006. "The saving-investment relationship revisited: New evidence from multivariate heterogeneous panel cointegration analyses," Journal of Comparative Economics, Elsevier, vol. 34(2), pages 402-419, June.
- Norman Loayza & Klaus Schmidt-Hebbel & Luis Servén, 2001.
"Una Revisión del COmportamiento y de los determinantes del ahorro en el mundo,"
Central Banking, Analysis, and Economic Policies Book Series, in: Felipe Morandé & Rodrigo Vergara & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Edit (ed.),Análisis Empírico del Ahorro en Chile, edition 1, volume 1, chapter 2, pages 13-48,
Central Bank of Chile.
- Norman Loayza & Klaus Schmidt-Hebbel & Luis Servén, 2001. "Una Revisión del Comportamientoy de los Determinantes del Ahorro en el Mundo," Working Papers Central Bank of Chile 95, Central Bank of Chile.
- Jérome Hericourt & Mathilde Maurel, 2006.
"A new look at the Feldstein-Horioka puzzle: a European-regional perspective,"
Brussels Economic Review, ULB -- Universite Libre de Bruxelles, vol. 49(2), pages 147-168.
- Jérôme Héricourt & Mathilde Maurel, 2005. "A new look at the Feldstein-Horioka puzzle: an "European-regional" perspective," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00196383, HAL.
- Jérôme Héricourt & Mathilde Maurel, 2006. "A New Look at the Feldstein-Horioka Puzzle: A “European-Regional” Perspective," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00267478, HAL.
- Jérôme Héricourt & Mathilde Maurel, 2005. "A new look at the Feldstein-Horioka puzzle: an "European-regional" perspective," Post-Print halshs-00196383, HAL.
- Jérôme Héricourt & Mathilde Maurel, 2005. "A new look at the Feldstein-Horioka puzzle: an "European-Regional" perspective," Cahiers de la Maison des Sciences Economiques j05070, Université Panthéon-Sorbonne (Paris 1).
- Jérôme Héricourt & Mathilde Maurel, 2006. "A New Look at the Feldstein-Horioka Puzzle: A “European-Regional” Perspective," Post-Print halshs-00267478, HAL.
- Kaminsky, Graciela L. & Pereira, Alfredo, 1996.
"The debt crisis: lessons of the 1980s for the 1990s,"
Journal of Development Economics, Elsevier, vol. 50(1), pages 1-24, June.
- Graciela L. Kaminsky & Alfredo Pereira, 1994. "The debt crisis: lessons of the 1980's for the 1990's," International Finance Discussion Papers 481, Board of Governors of the Federal Reserve System (U.S.).
- Marcos Rocha & Paulo Gala, 2011. "Câmbio real, poupança doméstica e poupança externa: análise teórica e evidências empíricas [Real exchange rate, domestic savings and external savings: theoretical analysis and empirical evidence]," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 21(3), pages 351-367, September.
- Ketenci, Natalya, 2012.
"The Feldstein–Horioka Puzzle and structural breaks: Evidence from EU members,"
Economic Modelling, Elsevier, vol. 29(2), pages 262-270.
- Ketenci, Natalya, 2010. "The Feldstein –Horioka Puzzle and structural breaks: evidence from EU members," MPRA Paper 26010, University Library of Munich, Germany.
- Jamilov, Rustam, 2012. "Capital mobility in the Caucasus," MPRA Paper 38184, University Library of Munich, Germany, revised Apr 2012.
- Mariam Camarero & Alejandro Muñoz & Cecilio Tamarit, 2021.
"50 Years of Capital Mobility in the Eurozone: Breaking the Feldstein-Horioka Puzzle,"
Open Economies Review, Springer, vol. 32(5), pages 867-905, November.
- Mariam Camarero & Alejandro Muñoz & Cecilio Tamarit, 2021. "50 years of capital mobility in the Eurozone: breaking the Feldstein-Horioka Puzzle," Working Papers 2102, Department of Applied Economics II, Universidad de Valencia.
- Mariam Camarero & Alejandro Munoz & Cecilio Tamarit, 2021. "50 years of capital mobility in the Eurozone: breaking the Feldstein-Horioka Puzzle," Working Papers 2021.04, International Network for Economic Research - INFER.
- Margarita Katsimi & Thomas Moutos, 2009.
"A Note On Human Capital And The Feldstein–Horioka Puzzle,"
Manchester School, University of Manchester, vol. 77(3), pages 398-409, June.
- Katsimi, Margarita & Moutos, Thomas, 2007. "A Note on Human Capital and the Feldstein-Horioka Puzzle," Economics Discussion Papers 2007-30, Kiel Institute for the World Economy (IfW Kiel).
More about this item
JEL classification:
- E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
- E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
- F0 - International Economics - - General
- F3 - International Economics - - International Finance
- O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mes:ijpoec:v:38:y:2009:i:3:p:58-76. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/MIJP20 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.