Financial Liberalization and the Direction of Capital Flows

This book focuses on the investigation of the international capital flows between developed countries (DCs) and low and middle income (LMI) countries. In this analysis, we try to show that the arguments of mainstream economics about the capital flows between those two kinds of countries are not reflecting the real economic processes over 2000-2011 period. To show that we use three measures which are current account balance, capital income and the intellectual property claims. These three measures lead us to argue that capital is not flowing into LMI countries from DCs, but rather it is flowing out from LMI countries to DCs. We also try to show the reasons behind the outflowing process of capital among these countries.

Autorentext

Onur Özdemir is a PhD student in Economics from Istanbul University and Kadir Has University, Turkey. His research focuses on macroeconomics, growth economics, political economy and financialization. Prior to his PhD studies, he had an MA (in Economics) from Kadir Has University and his BA (in Economics) from I k University.