Author's Keywords: capital flows, corruption, capital controls, developing countries	Convention Need a solution for abstract management? All Academic can help! Contact us today to find out how our system can help your annual meeting. Submission - Custom fields, multiple submission types, tracks, audio visual, multiple upload formats, automatic conversion to pdf. Review - Peer Review, Bulk reviewer assignment, bulk emails, ranking, z-score statistics, and multiple worksheets! Reports - Many standard and custom reports generated while you wait. Print programs with participant indexes, event grids, and more! Scheduling - Flexible and convenient grid scheduling within rooms and buildings. Conflict checking and advanced filtering. Communication - Bulk email tools to help your administrators send reminders and responses. Use form letters, a message center, and much more! Management - Search tools, duplicate people management, editing tools, submission transfers, many tools to manage a variety of conference management headaches! Click here for more information.
Association: Name: International Studies Association URL: http://www.isanet.org
Citation: URL: http://www.allacademic.com/meta/p70184_index.html Direct Link: HTML Code:

Warlick, Herschell. "An Assessment of the Effect of Corruption and Capital Controls on the Volume and Composition of Capital Flows to Developing Countries" Paper presented at the annual meeting of the International Studies Association, Hilton Hawaiian Village, Honolulu, Hawaii, Mar 05, 2005 <Not Available>. 2008-10-10 <http://www.allacademic.com/meta/p70184_index.html>

Warlick, H. , 2005-03-05 "An Assessment of the Effect of Corruption and Capital Controls on the Volume and Composition of Capital Flows to Developing Countries" Paper presented at the annual meeting of the International Studies Association, Hilton Hawaiian Village, Honolulu, Hawaii Online <.PDF>. 2008-10-10 from http://www.allacademic.com/meta/p70184_index.html

Publication Type: Conference Paper/Unpublished Manuscript Review Method: Peer Reviewed Abstract: Foreign, private capital flows to developing countries have proven to be both an engine of growth, as well as a challenge to deal with. While some developing countries have benefited from foreign investment, there are others who have been exacerbated by these flows. The implementation of capital controls has been a remedy in managing the effect of foreign, private investment on the domestic economy. Yet, when making an investment in a foreign country, the international investor can avoid such restrictions. And much of the literature says that with any policy, there is likely to be some level of corruption associated with it. Indeed, some level of corruption is likely to prevail in virtually every country. This dissertation presents empirically the effects of corruption and capital controls on the composition and volume of private capital flows to 34 developing countries using random effects, fixed effects and OLS regression techniques. Four types of capital flows are studied: foreign direct investment, bank lending, bonds, and equities. Under the guise of the “efficient grease” theory, this study will test the linearity of the corruption index, as well as the capital control measure. The results show that corruption is indeed non-linear in all capital flow types, employing each regression technique. With the exception of equity flows, the “efficient grease” theory of corruption applies to private capital flows. This means that corruption increases private capital flows, but only up to a certain level. Beyond this threshold, corruption has a negative effect on private capital flows. Capital controls, which also appear to be non-linear, do not behave in an expected manner and do not appear to affect capital flows significantly. Unexpectedly, these results do not lead one to conclude that random effects estimates are significantly different from OLS estimates.

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