结构改革对经合组织国家总资本流入的影响

IF 6.1 2区经济学 Q1 BUSINESS, FINANCE

Journal of International Financial Markets Institutions & Money Pub Date : 2025-09-07 DOI:10.1016/j.intfin.2025.102221

Christos Mavrogiannis , Athanasios Tagkalakis

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引用次数: 0

摘要

利用25个经合组织国家1985年至2020年结构性改革的叙事数据库，我们研究了劳动力和产品市场改革对总资本流入的影响。运用局部投影法，利用增广逆概率加权估计量求解改革内生性问题，我们发现结构性改革对直接投资和证券投资都有积极的中期影响。改革尤其能促进投资，特别是在拥有高质量金融机构和低公共债务的环境下。

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The effects of structural reforms on gross capital inflows in OECD countries

Utilizing a narrative database on structural reforms in 25 OECD countries from 1985 to 2020, we investigate the effects of labor and product market reforms on gross capital inflows. By applying the local projection method and addressing reform endogeneity with the Augmented Inverse Probability Weighted estimator, we find that structural reforms have a positive medium-term effect on both direct and portfolio investment. In particular, reforms boost investment, especially in environments of high quality financial institutions and amid low public debt.

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来源期刊

Journal of International Financial Markets Institutions & Money Multiple-

CiteScore

6.60

自引率

10.00%

发文量

142

期刊介绍： International trade, financing and investments, and the related cash and credit transactions, have grown at an extremely rapid pace in recent years. The international monetary system has continued to evolve to accommodate the need for foreign-currency denominated transactions and in the process has provided opportunities for its ongoing observation and study. The purpose of the Journal of International Financial Markets, Institutions & Money is to publish rigorous, original articles dealing with the international aspects of financial markets, institutions and money. Theoretical/conceptual and empirical papers providing meaningful insights into the subject areas will be considered. The following topic areas, although not exhaustive, are representative of the coverage in this Journal. • International financial markets • International securities markets • Foreign exchange markets • Eurocurrency markets • International syndications • Term structures of Eurocurrency rates • Determination of exchange rates • Information, speculation and parity • Forward rates and swaps • International payment mechanisms • International commercial banking; • International investment banking • Central bank intervention • International monetary systems • Balance of payments.