亚洲资本外逃:基于面板数据的分析被引量：1

Capital Flight in Asia:A Panel Analysis

下载PDF

导出

摘要改进的差额法对9个亚洲国家1984-2004年间资本外逃规模的估算显示,资本外逃给这些国家造成了很大的资源流失且规模呈上升趋势。针对目前资本外逃研究在其惯性和面板数据异质性以及滞后因变量作为解释变量等方面的局限性,引入准方差法并结合动态模型和固定效应模型分析资本外逃的动因。计量分析表明,经济危机、贸易水平和政府支出是资本外逃的决定因素。其中,前两个因素的决定作用是对现有文献的补充。 This article is an attempt to study the magnitude and the determinants of capital flight from East,South and Southeast Asian nations within the period of 1984-2004.A refined residual method is used to estimate capital flight from nine countries in this region.Our estimates indicate that Asian countries has lost significant resources to capital flight and the net unrecorded capital outflow is on the rise An empirical model is set up to investigate the determinants of capital flight,using quasi-analysis of va...

作者郑英梅

机构地区山东大学经济学院

出处《山东大学学报（哲学社会科学版）》 CSSCI 北大核心 2008年第3期134-140,共7页 Journal of Shandong University(Philosophy and Social Sciences)

关键词资本外逃决定因素动态模型固定效应模型 capital flight Determinants dynamic model fixed effects model

分类号 F831.6 [经济管理—金融学]

引文网络
相关文献

参考文献9

1[1]Stiglitz,Joseph,Globalization and Its Discontents.New York and London:W.W.Norton,2002.
2[2]Beja,Edsel L.Jr.,"Capital Flight:Meanings and Measures",in Gerald A.Epstein (ed.),Capital Flight and Capital Controls in Developing Countrie.Cheltenham,UK and Northampton,MA,USA:Edward Elgar,2005,22-34.
3[3]Moghadam,Mashaallah Rahnama,Samavati,Hedayeh and Dilts,David A.,"An Examination of Capital Flight from East Asian Emerging Economies:Paradise Lost".Journal of AsiaPacific Business,2003,(1):33-49.
4[4]Cerra,Valerie,Rishi,Meenakshi and Saxena,Sweta C.,"Robbing the Riches:Capital Flight,Institutions and Instability".IMF Working Paper,2005,05/199.At:http://www.imf.org/external/pubs/ft/wp/2005/wp05199.pdf.
5[5]Mikkelsen,J.Giehm,"An Econometric Investigation of Capital Flight".Applied Economics,1991,(23):73-85.
6[6]Le,Quan Vu and Zak,Paul J.,"Political Risk and Capital Flight".Journal of International Money and Finance,2006,(25):308-329.
7[7]Schineller,Lisa M.,"An Econometric Model of Capital Flight from Developing Countries".International Finance Discussion Papers,1997,(579).At:http://www.federalreserve.gov/pubs/ifdp/1997/579/ifdp579.pdf.
8[8]Claessens,S.and Naude,D.,"Recent Estimates of Capital Flight".International Economics Department,The World Bank WPS.1983,(1186).At:http://wwwwds.worldbank.org/servlet/WDSContentServer/WDSP/IB/1993.
9[11]Summers,Lawrence H.,"International Financial Crises:Causes,Prevention,and Cures".The American Economic Review,Papers and Proceedings of the One Hundred Twelfth Annual Meeting of the American Economic Association,2000,(2):1-16.