Opening Up: Capital Flows and Financial Sector Dynamics in Low-Income Developing Countries

Do Capital Inflows Spur Technology Diffusion? Evidence from a New Technology Adoption Index

“…Indeed, our empirical strategy and our focus on technology adoption requires a relatively long time period and a wide sample of developing and low-income countries. Several other measures of capital openness, while very detailed in their content (Schindler 2009, Fernández et al 2016, Jahan & Wang 2016, Horn & Narita 2021 cover only the period after 1995, and for the most part few EMDEs. The indicator built by Quinn & Toyoda (2008) has the closest coverage to the Chinn-Ito index, especially when it comes to the time dimension.…”