International Studies in Economics and Econometrics

I / Introduction.- II / Foreign Capital, Savings and Growth: Some Descriptive Indicators.- 1. Trends, Patterns and Sources of Different Types of Foreign Capital Inflows.- 2. Summary Statistics of Sample Data on Growth, Savings, Income and Capital Inflows.- 3. Some Further Interpretations.- III / Foreign Capital and Growth.- 1. Review of Some of the Recent Empirical Studies.- 2. The Model.- 3. The Empirical Results.- 4. Further Analysis of Group Estimates.- IV / Foreign Capital and Savings.- 1. Review of the Selected Literature.- 2. The Model.- 3. The Results.- 4. Results for Income and Geographical Groups.- V / Foreign Capital, Growth and Savings: Implications of a Simultaneous Equations Approach.- 1. Review of Bacha and Papanek Studies.- 2. Implications of Simultaneity.- VI / Foreign Capital, Growth and Savings: A Simultaneous Equations Model.- 1. The Model.- 2. A Brief Discussion of the Structural Equations.- 3. The Estimates.- 4. Comparison with the 1960s.- VII / The Multiplier Analysis.- 1. Reduced Forms and the Elasticity Multipliers.- 2. Direct Versus Total Effects of Capital Inflows.- 3. Importance of Capital Inflows Relative to That of Other Factors.- 4. Some Other Implications of the Elasticity Multipliers.- 5. Comparison of the 1960s with the 1970s.- VIII / Stability Analysis.- 1. An Outline of the Test Procedure.- 2. The Stability of the Savings Rate Equation.- 3. The Stability of the Growth Rate Equation.- IX / Aggregation and Predictions.- 1. The Savings Rate Predictions.- 2. The Growth Rate Predictions.- 3. Some Comments on the Classification of Countries as 'Overachievers' and 'Underachieves'.- X / Conclusions.- 1. A Brief Summary of the Methodology.- 2. Summary of the Major Findings and Some Policy Implications.- 3. Suggestions for Further Research.- Appendix A / The Sample.- Appendix B / The Sources of Data and the Definition of the Variables Used.- Appendix C / The Reduced Form Equations and Elasticity Multiplier Tables.