When Rivers Flow Upstream: International Capital Movements in the Era of Globalization
Publication Date: March 2003
Publisher: Center for Economic and Policy Research
Author(s): Monique Morrissey; Dean Baker
Research Area: Banking and finance
Keywords: National debt; Intellectual property; Capital income
Type: Report
Coverage: United States
Abstract:
This paper measures the extent and direction of current international capital flows. It finds that most developing nations have large outflows of capital due to past debts and payments of intellectual property claims, such as licensing fees and royalties on patents and copyrights.
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