Has the Lucas Paradox been fully explained?

Azemar, Celine and Desbordes, Rodolphe (2013) Has the Lucas Paradox been fully explained? Economic Letters, 121 (2). pp. 183-187. ISSN 0165-1765

Abstract

Alfaro, Kalemli-Ozcan, and Volosovych (2008) argue that accounting for differences in institutional quality makes the Lucas Paradox disappear. We show that their key finding is driven by the presence of outliers. Once we control for them, we find that the Lucas Paradox remains.

ORCID iDs

Desbordes, Rodolphe ORCID: https://orcid.org/0000-0001-8923-5401

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  Item type:	Article
  ID code:	48066
  Dates:	Date Event 2013 Published
  Keywords:	capital flows, institutional quality, Lucas Paradox, outliers, Finance, Economic Theory, Finance, Economics and Econometrics
  Subjects:	Social Sciences > Finance Social Sciences > Economic Theory
  Department:	Strathclyde Business School > Economics
  Depositing user:	Pure Administrator
  Date deposited:	13 May 2014 14:18
  Last modified:	20 Jan 2021 21:15
  Related URLs:	Journal or Publication
  URI:	https://strathprints.strath.ac.uk/id/eprint/48066