The Marginal Product of Capital, Capital Flows, and Convergence

2010 ◽  
Vol 100 (2) ◽  
pp. 73-77 ◽  
Author(s):  
Sirsha Chatterjee ◽  
Kanda Naknoi
Keyword(s):  
Capital Flows ◽  
Marginal Product ◽  
Marginal Product Of Capital

scholarly journals INTRA ASEAN-5 CAPITAL FLOWS: DO THEY REPRESENT NEOCLASSICAL BELIEF OR LUCAS PARADOX?

2015 ◽  
Vol 18 (2) ◽  
pp. 157-182
Author(s):  
Nurul Qolbi ◽  
Akhmad Syakir Kurnia
Keyword(s):  
Human Capital ◽  
Capital Flows ◽  
Capital Flow ◽  
Marginal Product ◽  
Host Countries ◽  
Poor Countries ◽  
Quality Of Institutions ◽  
Marginal Product Of Capital ◽  
Asean Countries

In the neoclassical belief, capital flows downhill from rich to poor countries as a consequence of capital endowment variation. In contrast to the neoclassical belief, Lucas found evidence that capital tends to flow uphill. This paper investigates the intra ASEAN-5 capital flows. Using panel estimation, we found that marginal product of capital, human capital, total factor productivity growth, and the quality of institutions appear as determinants for the capital flow from Indonesia, Malaysia, Philippines, and Thailand to Singapore as a host country. On the contrary, the capital flow from Singapore to other ASEAN countries as host countries is encouraged only by the quality of institutions, human capital as well as per capita GDP. The result shows that Lucas variables emerge as determinants for the uphill and downhill capital flow in ASEAN-5. In the meantime, marginal product of capital that represents neoclassical variable appears as the determinant for uphill capital flow from other ASEAN countries to Singapore. This gives significant insight that Lucas variables emerge as companion to the neoclassical variables in explaining intra ASEAN capital flow

scholarly journals The Marginal Product of Capital

2005 ◽  
Author(s):  
Francesco Caselli ◽  
James Feyrer
Keyword(s):  
Marginal Product ◽  
Marginal Product Of Capital

The Rate of Interest and the Marginal Product of Capital

1950 ◽  
Vol 58 (4) ◽  
pp. 289-306 ◽  
Author(s):  
Lloyd A. Metzler
Keyword(s):  
Marginal Product ◽  
Marginal Product Of Capital

ON THE MARGINAL PRODUCT OF CAPITAL 1

1977 ◽  
Vol 29 (3) ◽  
pp. 472-478 ◽  
Author(s):  
JOHN CRAVEN
Keyword(s):  
Marginal Product ◽  
Marginal Product Of Capital

Empirics for Marginal Product of Capital

2019 ◽  
Vol 11 (01) ◽  
pp. 2050003
Author(s):  
Ly Dai Hung
Keyword(s):  
Cross Section ◽  
Productivity Growth ◽  
Direct Investment ◽  
Marginal Product ◽  
Domestic Investment ◽  
Cross Section Data ◽  
Financial Openness ◽  
Section Data ◽  
Development Level ◽  
Marginal Product Of Capital

We characterize the marginal product of capital on a cross-section data of 88 economies over 1980–2013. The marginal product of capital is increasing on savings misallocation rate, measuring the fraction of savings unconverted into investment, on productivity growth and on financial openness. One country with a higher marginal product of capital makes more domestic investment, receives more foreign direct investment (FDI) and equities inflows, but accumulates more foreign debts and reserves. Moreover, it also has a higher financial development level.

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