Title Capital account liberalization and inequality / prepared by Davide Furceri and Prakash Loungani

Published [Washington, D.C.] : International Monetary Fund, ©2015

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Description 1 online resource (26 pages) : color illustrations Series IMF working paper, 1018-5941 ; WP/15/243 IMF working paper ; WP/15/243. 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. --Abstract Notes "November 2015." "Research Department." Bibliography Includes bibliographical references (pages 16-18) Notes Online resource; title from pdf title page (IMF.org Web site, viewed November 24, 2015) Subject Capital movements -- Econometric models Capital movements -- Government policy -- Econometric models Equality -- Econometric models Capital movements -- Econometric models Equality -- Econometric models All Countries. Capital Account Liberalization. Capital Account Openness. Capital Account. Crises. Inequality. China, People's Republic of. Luxembourg. Mexico. Form Electronic book Author Loungani, Prakash, (IMF staff), author. International Monetary Fund. Research Department. ISBN 1513531085 9781513531083

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