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An Analysis of Robert E. Lucas Jr.’s Why Doesn’t Capital Flow from Rich to Poor Countries?

An Analysis of Robert E. Lucas Jr.’s Why Doesn’t Capital Flow from Rich to Poor Countries?

Pádraig Belton

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Editorial:
Taylor & Francis Ltd
Año de edición:
2017
Materia
Literatura: historia y crítica
ISBN:
9781912128433
11,64 €
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Sobre IBD

Because the potential returns appear to be greater in poorer countries than in the developed world, modern economic theory implies that rich countries should continually invest in poor countries until returns balance out. But this doesn’t happen - and economist Robert E. Lucas Jr. asked why in his ground-breaking 1990 article on what has become known as the Lucas paradox.

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