Cross-Border Capital Flows and Income Distribution in Host Countries——Empirical Evidence from Transnational Panel Data
Based on the cross-border panel data of 57 economies from 1990 to 2019,this paper empirically examines the impact of various types of cross-border capital flows on the income distribution of the host countries.The results are as follows.Firstly,on the whole,FDI improves the income distribution of the host country,while portfolio investment and oth-er investments have no significant impact on income distribution.Secondly,the improvement effect of FDI on income distri-bution is more significant in the developed economies with more complete financial markets and after the 2008 financial crisis.Finally,the increase of capital account openness is conducive to the promotion effect of FDI on income distribution in host countries.Based on these conclusions,the paper puts forward policy suggestions on how to make better use of cross-border capital flows to improve income distribution in China.
cross-border capital flowsFDIincome distributioneconomic growth
NETL
NSTL
万方数据
