Capital account liberalization and unemployment in industrial countries

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Abstract

Using data on 21 industrial countries over 1973 to 2005, this article finds that the liberalization of capital accounts implemented during this period has probably reduced unemployment. The magnitude of the estimated effect is substantial. We control for both endogeneity of capital account regulation and all major determinants of unemployment. The results are robust to variations in specification.
Original languageEnglish
Pages (from-to)566-571
JournalApplied Economics Letters
Volume20
Issue number6
DOIs
Publication statusPublished - 1 Apr 2013

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