Capital mobility, balance of payments constraints, and economic growth: an empirical dynamic analysis

This paper analyses empirically the relationship between economic growth and the openness of the financial account of the balance of payments. It takes into consideration the balance of payments’ constrained growth, as well as the difficulties in the empirical literature in measuring capital mobility. Starting from the capital mobility index we estimate a panel across 80 countries, both developed and developing between 1997-2003. Results suggest that more capital mobility in developing countries affects growth negatively, whereas it possibly stimulates growth in developed countries.Economic Growth, Capital Mobility, Dynamic Panel

Mobilidade de Capitais e Crescimento Econômico: Uma Análise Empírica Dinâmica com Dados em Painel

O presente trabalho objetiva analisar empiricamente as relações entre crescimento econômico e abertura da conta financeira do balanço de pagamentos, tendo como lementos centrais a restrição imposta pelo Balanço de Pagamentos ao crescimento econômico, bem como s dificuldades associadas à mensuração da mobilidade de capitais. A partir da utilização de indicadores alternativos para a mobilidade de capitais é empreendido um estudo em painel para 80 países em diferentes estágios de desenvolvimento no período 1979-2003. Os resultados sugerem que maior abertura aos fluxos de capitais nos países em desenvolvimento têm efeitos negativos sobre o crescimento econômico, embora possam estimular o crescimento em países desenvolvidos.Crescimento Econômico, Mobilidade de Capitais, Painel Dinâmico

Corticosterone Potentiation of Cocaine-Induced Reinstatement of Conditioned Place Preference in Mice is Mediated by Blockade of the Organic Cation Transporter 3

The mechanisms by which stressful life events increase the risk of relapse in recovering cocaine addicts are not well understood. We previously reported that stress, via elevated corticosterone, potentiates cocaine-primed reinstatement of cocaine seeking following self-administration in rats and that this potentiation appears to involve corticosterone-induced blockade of dopamine clearance via the organic cation transporter 3 (OCT3). In the present study, we use a conditioned place preference/reinstatement paradigm in mice to directly test the hypothesis that corticosterone potentiates cocaine-primed reinstatement by blockade of OCT3. Consistent with our findings following self-administration in rats, pretreatment of male C57/BL6 mice with corticosterone (using a dose that reproduced stress-level plasma concentrations) potentiated cocaine-primed reinstatement of extinguished cocaine-induced conditioned place preference. Corticosterone failed to re-establish extinguished preference alone but produced a leftward shift in the dose–response curve for cocaine-primed reinstatement. A similar potentiating effect was observed upon pretreatment of mice with the non-glucocorticoid OCT3 blocker, normetanephrine. To determine the role of OCT3 blockade in these effects, we examined the abilities of corticosterone and normetanephrine to potentiate cocaine-primed reinstatement in OCT3-deficient and wild-type mice. Conditioned place preference, extinction and reinstatement of extinguished preference in response to low-dose cocaine administration did not differ between genotypes. However, corticosterone and normetanephrine failed to potentiate cocaine-primed reinstatement in OCT3-deficient mice. Together, these data provide the first direct evidence that the interaction of corticosterone with OCT3 mediates corticosterone effects on drug-seeking behavior and establish OCT3 function as an important determinant of susceptibility to cocaine use