International capital flows, financial development, and economic growth fluctuations

IF 7.5 1区经济学 Q1 BUSINESS, FINANCE

International Review of Financial Analysis Pub Date : 2025-03-18 DOI:10.1016/j.irfa.2025.104125

Fang Li , Shuyong Ouyang , Victor Chen

引用次数: 0

Abstract

This paper examines the effect of international capital flows on economic growth fluctuations across 84 countries from 1980 to 2020. We find that international capital flows have a positive impact on economic growth fluctuations, a conclusion consistent across various measures of economic growth, including real output, potential output, output gap, and per capita output. Additionally, our analysis reveals that financial development can reduce the destabilizing effect of international capital flows on economic growth. These findings suggest that a well-developed financial system can stabilize economic growth during periods of high international capital flows.

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来源期刊

International Review of Financial Analysis BUSINESS, FINANCE-

CiteScore

10.30

自引率

9.80%

发文量

366

期刊介绍： The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.