Journal Information  ·  Mission  ·  Editorial Board  ·  Directory of Economists Submissions  ·  New Submission  ·  Submit a Revision Table of Contents  ·  Refereed Content            Notes            Comments            Preliminary Results  ·  Research       Announcements  ·  Letters to the Editor  ·  Conference       Announcements  ·  Search Email Notification Service and Directory of Research Economists  ·  Add me to Directory  ·  Modify my Profile General  ·  Submission Guidelines  ·  PDF Conversion  ·  Copyright  ·  Electronic Publishing  ·  Archiving  ·  Sponsors and       Endorsements  ·  Economic Links     Fabrizio Carmignani "Does capital account liberalisation promote economic growth? Evidence from system estimation." (2008, Vol. 6, No. 49.)     This paper proposes a three-equations empirical representation of the channels linking capital account liberalization (CAL) and economic growth. System estimates indicate that CAL determines growth through financial development and openness to trade. The residual effect of CAL on growth after accounting for these two channels is negligible. These results call for a reconsideration of the conclusions on the growth-effect of CAL drawn from single-equation empirical models.     Keywords :   capital account liberalization, financial development, economic growth, trade openness     Manuscript Received : 9/22/2008   Manuscript Accepted : 12/20/2008   This abstract has been downloaded 760 times.