Browsing by Author "Ozdemir, Onur"

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Financial Liberalization and Direction of Interenational Capital Flows
(Kadir Has Üniversitesi, 2013) Ozdemir, Onur; Orhangazi, Özgür
This study examines the direction of capital flows between developed and developing countries. Primarily almost all restrictions on capital mobility have reduced following the financial liberalization all over the world after 1980 period. One of the most important aim behind the liberalization policy is the providing of the resource allocation from capital-abundant developed countries to capital-scarce developing countries and thereby the stimulation of economic growth. in other words by doing so developed countries would become net capital exporter. However the analysis depending developing countries case and covering 2000-2011 period put different result. Actually capital is on net outflowing from developing countries to developed countries due to various reasons such as interest payments dividend payments past borrowings and copyright and patent fees. in other words contrary to the theoretical concept of the mainstream finance developing countries is placed as a net capital exporter in this period instead of developed countries. The main indicators which are using so as to reach this result are the current account and its two sub-items which are net income and royalty and licensing fees. Changings in both measures statistically prove that the developing countries are net capital exporter to developed countries. -- Abstract'tan.