{"id":9106,"date":"2025-12-15T20:42:05","date_gmt":"2025-12-15T23:42:05","guid":{"rendered":"https:\/\/aaep.org.ar\/?p=9106"},"modified":"2025-12-15T20:42:07","modified_gmt":"2025-12-15T23:42:07","slug":"financial-openness-and-economic-growth-a-dynamic-common-correlated-effects-dcce-approche-for-developed-and-developing-economies","status":"publish","type":"post","link":"https:\/\/aaep.org.ar\/?p=9106","title":{"rendered":"Financial openness and economic growth: a Dynamic Common Correlated Effects (DCCE) approche for developed and developing economies"},"content":{"rendered":"<iframe loading=\"lazy\" class=\"wonderplugin-pdf-iframe\" src=\"https:\/\/aaep.org.ar\/wp-content\/plugins\/wonderplugin-pdf-embed\/pdfjslight\/web\/viewer.html?v=2&file=https:\/\/aaep.org.ar\/works\/works2025\/21.pdf\" width=\"100%\" height=\"600px\" style=\"border:0;\"><\/iframe>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite decades of research, the literature still lacks consensus on whether financial openness fosters economic growth. This study addresses that gap by jointly analysing de jure, de facto, and hybrid measures of openness, and by comparing developed and developing economies. Using the Dynamic Common Correlated Effects (DCCE) estimator, the results reveal heterogeneous effects depending on both the type of openness and the country context. De facto inflows such as foreign direct investment (FDI) and portfolio equity promote growth, while broad measures of capital flows are negatively associated with it. De jure indicators show no significant impact, whereas hybrid indices yield positive effects overall. From a policy perspective, developed economies are better positioned to reap benefits, while developing economies require careful sequencing and stronger institutions.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"categories":[29],"tags":[33],"class_list":["post-9106","post","type-post","status-publish","format-standard","hentry","category-anales","tag-aaep-anales-2025"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Financial openness and economic growth: a Dynamic Common Correlated Effects (DCCE) approche for developed and developing economies - Asociaci\u00f3n Argentina de Econom\u00eda Pol\u00edtica<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financial openness and economic growth: a Dynamic Common Correlated Effects (DCCE) approche for developed and developing economies - Asociaci\u00f3n Argentina de Econom\u00eda Pol\u00edtica\" \/>\n<meta property=\"og:description\" content=\"Despite decades of research, the literature still lacks consensus on whether financial openness fosters economic growth. This study addresses that gap by jointly analysing de jure, de facto, and hybrid measures of openness, and by comparing developed and developing economies. Using the Dynamic Common Correlated Effects (DCCE) estimator, the results reveal heterogeneous effects depending on both the type of openness and the country context. De facto inflows such as foreign direct investment (FDI) and portfolio equity promote growth, while broad measures of capital flows are negatively associated with it. De jure indicators show no significant impact, whereas hybrid indices yield positive effects overall. 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