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240607 ||| eng |
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|a 9798400269509
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|a Cugat, Gabriela
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|a Do Capital Inflows Spur Technology Diffusion? Evidence from a New Technology Adoption Index
|c Gabriela Cugat, Andrea Manera
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2024
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| 300 |
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|a 49 pages
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| 653 |
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|a Economic & financial crises & disasters
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| 653 |
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|a Technological Change: Choices and Consequences
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| 653 |
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|a Innovation and Invention: Processes and Incentives
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| 653 |
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|a Capital account liberalization
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| 653 |
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|a Research and Development
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| 653 |
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|a Intellectual Property Rights: General
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| 653 |
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|a Short-term Capital Movements
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| 653 |
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|a Industries: Information Technololgy
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| 653 |
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|a Information technology industries
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| 653 |
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|a Technology
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| 653 |
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|a Economics: General
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| 653 |
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|a Current Account Adjustment
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| 653 |
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|a Balance of payments
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| 653 |
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|a Long-term Capital Movements
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| 653 |
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|a Technology; general issues
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| 653 |
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|a Exports and Imports
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| 653 |
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|a Diffusion Processes
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| 653 |
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|a Trade: General
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| 653 |
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|a Informal sector; Economics
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| 653 |
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|a Capital account
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| 653 |
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|a International economics
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| 653 |
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|a Economics of specific sectors
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| 653 |
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|a Capital flows
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| 653 |
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|a Currency crises
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| 653 |
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|a International trade
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| 653 |
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|a Innovation
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Technological Change
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| 653 |
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|a Capital movements
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| 653 |
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|a Institutions and Growth
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| 653 |
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|a Imports
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| 653 |
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|a International Investment
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| 700 |
1 |
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|a Manera, Andrea
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9798400269509.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/2024/044/001.2024.issue-044-en.xml?cid=545456-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a We construct a novel measure of technology adoption, the Embodied Technology Imports Indicator (ETI), available for 181 countries over the period 1970-2020. The ETI measures the technological intensity of imports of each country by leveraging patent data from PATSTAT and product-level trade data from COMTRADE. We use this index to assess the link between capital flows and the diffusion of new technologies across emerging economies and low-income countries. Through a local projection difference-in-differences approach, we establish that variations in statutory capital flow regulations increase technological intensity by 7-9 percentage points over 5 to 10 years. This increase is accompanied by a significant 28-33 pp rise in the volume of gross capital inflows, driven primarily by foreign direct investment (21 pp increase), and a 9 to 12 percentage points shift in the level of Real GDP per capita in PPP terms
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