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Global competitiveness and capital flows: does stage of economic development and risk rating matter?*
- Source :
- Asia-Pacific Journal of Accounting & Economics; July 2020, Vol. 27 Issue: 4 p426-450, 25p
- Publication Year :
- 2020
-
Abstract
- ABSTRACTThis paper closes a gap in the relevant literature by investigating the role of a country’s competitiveness on international capital mobility using robust panel multiple regressions with fixed and random effects. In this study, we use the Global Competitiveness Index to measure a country’s competitiveness level. The research empirically investigates the effect of competitiveness on cross-border capital flows, and shows how stages of economic development and country-specific risk ratings influence inflows and outflows of capital under the effect of competitiveness. Overall, we found that competitiveness has a positive and statistically significant impact on aggregated and disaggregated capital flows. However, the magnitude of its impact varies over different stages of development and across country risk levels.
Details
- Language :
- English
- ISSN :
- 16081625 and 21642257
- Volume :
- 27
- Issue :
- 4
- Database :
- Supplemental Index
- Journal :
- Asia-Pacific Journal of Accounting & Economics
- Publication Type :
- Periodical
- Accession number :
- ejs53718386
- Full Text :
- https://doi.org/10.1080/16081625.2018.1481754