Unit root tests of capital mobility in the less developed countries
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- Bagnai, A. & Manzocchi, S. Weltwirtschaftliches Archiv (1996) 132: 544. doi:10.1007/BF02707512
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This article contributes to the ongoing debate on international capital mobility in the LDCs. The extent of capital mobility has been assessed in a time-series context, performing unit root tests on the adjusted current account for thirty-seven developing countries. The results show that the hypothesis of capital mobility cannot be rejected in a large number of countries.