Determinants And Systemic Consequences Of International Capital Flows
Determinants And Systemic Consequences Of International Capital Flows Book in PDF, ePub and Kindle version is available to download in english. Read online anytime anywhere directly from your device. Click on the download button below to get a free pdf file of Determinants And Systemic Consequences Of International Capital Flows book. This book definitely worth reading, it is an incredibly well-written.
Mr.Timothy D. Lane,Mr.José Saúl Lizondo,Mr.Donald J. Mathieson,Mr.Morris Goldstein,Ms.Liliana Rojas-Suárez,Mr.D. F. I. Folkerts-Landau
Author : Mr.Timothy D. Lane,Mr.José Saúl Lizondo,Mr.Donald J. Mathieson,Mr.Morris Goldstein,Ms.Liliana Rojas-Suárez,Mr.D. F. I. Folkerts-Landau Publisher : International Monetary Fund Page : 116 pages File Size : 52,9 Mb Release : 1991-04-15 Category : Business & Economics ISBN : 1557752052
Determinants and Systemic Consequences of International Capital Flows by Mr.Timothy D. Lane,Mr.José Saúl Lizondo,Mr.Donald J. Mathieson,Mr.Morris Goldstein,Ms.Liliana Rojas-Suárez,Mr.D. F. I. Folkerts-Landau Pdf
The growing integration of capital markets has strengthened incentives for greater international coordination of economic and financial policies. Structural changes in these financial market, however, may have undermined the effectiveness of monetary and fiscal policy and complicated market access by developing countries. These are among the findings of this study of capital flows in the 1970s and the 1980s.
Mr. D. F. I. Folkerts-Landau,Mr. Donald J. Mathieson,Mr. Morris Goldstein,Ms. Liliana Rojas-Suárez,Mr. José Saúl Lizondo,Mr. Timothy D. Lane
Author : Mr. D. F. I. Folkerts-Landau,Mr. Donald J. Mathieson,Mr. Morris Goldstein,Ms. Liliana Rojas-Suárez,Mr. José Saúl Lizondo,Mr. Timothy D. Lane Publisher : International Monetary Fund Page : 104 pages File Size : 50,5 Mb Release : 1991-04-15 Category : Business & Economics ISBN : 9781452729824
Determinants and Systemic Consequences of International Capital Flows by Mr. D. F. I. Folkerts-Landau,Mr. Donald J. Mathieson,Mr. Morris Goldstein,Ms. Liliana Rojas-Suárez,Mr. José Saúl Lizondo,Mr. Timothy D. Lane Pdf
The growing integration of capital markets has strengthened incentives for greater international coordination of economic and financial policies. Structural changes in these financial market, however, may have undermined the effectiveness of monetary and fiscal policy and complicated market access by developing countries. These are among the findings of this study of capital flows in the 1970s and the 1980s.
Revisiting the Determinants of Capital Flows to Emerging Markets--A Survey of the Evolving Literature by Swarnali Ahmed Hannan Pdf
This paper documents the evolution of gross and net capital flows to emerging market economies and surveys the large literature on the potential drivers. While the capital flow landscape has been shaped by the evolution of both global and country-specific factors, the relative importance of these factors has varied over time and differs depending on the type of capital flows. The findings from the survey of the literature thus underscores the importance of policies in both source and recipient countries in shaping capital flows.
Mr.Thierry Tressel,Dennis B. S. Reinhardt,Mr.Luca Antonio Ricci
Author : Mr.Thierry Tressel,Dennis B. S. Reinhardt,Mr.Luca Antonio Ricci Publisher : International Monetary Fund Page : 46 pages File Size : 41,9 Mb Release : 2010-10-01 Category : Business & Economics ISBN : 9781455209354
International Capital Flows and Development by Mr.Thierry Tressel,Dennis B. S. Reinhardt,Mr.Luca Antonio Ricci Pdf
Does capital flow from rich to poor countries? We revisit the Lucas paradox and explore the role of capital account restrictions in shaping capital flows at various stages of economic development. We find that, when accounting for the degree of capital account openness, the prediction of the neoclassical theory is confirmed: less developed countries tend to experience net capital inflows and more developed countries tend to experience net capital outflows, conditional of various countries’ characteristics. The findings are driven by foreign direct investment, portfolio equity investment, and to some extent by loans to the private sector.
International Capital Flows and the Lucas Paradox by Muhammad Akhtaruzzaman Pdf
This book offers a comprehensive analysis of the debates on international capital flows, and presents a new evidence-based answer to the long-standing question of why capital doesn’t tend to flow from rich to poor countries as predicted by standard neoclassical theory – a puzzle known as the Lucas paradox. Further, the book reviews alternative approaches to conventional estimates of the marginal product of capital (MPK) and considers whether these estimates actually help us understand observed international capital flows. A rigorous quantitative approach is subsequently used to provide clear empirical evidence on the determinants of capital flows across borders. The findings of this empirical analysis suggest that generous economic policies on capital account convertibility are more influential than differences in institutional quality in terms of determining international capital flows. In closing, the relative importance of various types of political risk (e.g. expropriation and corruption) is examined. After determining that expropriation risk has one of the greatest effects on foreign direct investment (FDI), the book proposes an appealingly intuitive explanation for the lack of FDI flows to many capital-scarce developing countries.
Author : Martin Feldstein Publisher : University of Chicago Press Page : 500 pages File Size : 40,9 Mb Release : 2007-12-01 Category : Business & Economics ISBN : 9780226241807
International Capital Flows by Martin Feldstein Pdf
Recent changes in technology, along with the opening up of many regions previously closed to investment, have led to explosive growth in the international movement of capital. Flows from foreign direct investment and debt and equity financing can bring countries substantial gains by augmenting local savings and by improving technology and incentives. Investing companies acquire market access, lower cost inputs, and opportunities for profitable introductions of production methods in the countries where they invest. But, as was underscored recently by the economic and financial crises in several Asian countries, capital flows can also bring risks. Although there is no simple explanation of the currency crisis in Asia, it is clear that fixed exchange rates and chronic deficits increased the likelihood of a breakdown. Similarly, during the 1970s, the United States and other industrial countries loaned OPEC surpluses to borrowers in Latin America. But when the U.S. Federal Reserve raised interest rates to control soaring inflation, the result was a widespread debt moratorium in Latin America as many countries throughout the region struggled to pay the high interest on their foreign loans. International Capital Flows contains recent work by eminent scholars and practitioners on the experience of capital flows to Latin America, Asia, and eastern Europe. These papers discuss the role of banks, equity markets, and foreign direct investment in international capital flows, and the risks that investors and others face with these transactions. By focusing on capital flows' productivity and determinants, and the policy issues they raise, this collection is a valuable resource for economists, policymakers, and financial market participants.
Globalization of International Financial Markets by Hak-Min Kim Pdf
First published in 1999, this volume investigates the causes and consequences of globalization of international financial markets, including all types of private sector capital for 121 countries over the period 1980-1990. This includes portfolio investment, bank capital and FDI. Hak-Min Kim identifies pronounced patterns in short-term capital flows along with effective means of stimulating capital, including the provision of new financial instruments, advanced telecommunication networks, and improved country risk management. Kim suggests that collective international efforts from organizations are necessary to develop financial markets and improve global equity.
Author : Maria Sole Pagliari,Swarnali Ahmed Hannan Publisher : International Monetary Fund Page : 58 pages File Size : 55,8 Mb Release : 2017-03-07 Category : Business & Economics ISBN : 9781475585254
The Volatility of Capital Flows in Emerging Markets by Maria Sole Pagliari,Swarnali Ahmed Hannan Pdf
Capital flow volatility is a concern for macroeconomic and financial stability. Nonetheless, literature is scarce in this topic. Our paper sheds light on this issue in two dimensions. First, using quarterly data for 65 countries over the period 1970Q1-2016Q1, we construct three measures of volatility, for total capital flows and key instruments. Second, we perform panel regressions to understand the determinants of volatility. The measures show that the volatility of all instruments is prone to bouts, rising sharply during global shocks like the taper tantrum episode. Capital flow volatility thus remains a challenge for policy makers. The regression results suggest that push factors can be more important than pull factors in explaining volatility, illustrating that the characteristics of volatility can be different from those of the flows levels.
Managing Capital Flows by Masahiro Kawai,Mario B. Lamberte Pdf
Managing Capital Flows provides analyses that can help policymakers develop a framework for managing capital flows that is consistent with prudent macroeconomic and financial sector stability. While capital inflows can provide emerging market economies with invaluable benefits in pursuing economic development and growth, they can also pose serious policy challenges for macroeconomic management and financial sector supervision. The expert contributors cover a wide range of issues related to managing capital flows and analyze the experience of emerging Asian economies in dealing with surges in capital inflows. They also discuss possible policy measures to manage capital flows while remaining consistent with the goals of macroeconomic and financial sector stability. Building on this analysis, the book presents options for workable national policies and regional policy cooperation, particularly in exchange rate management. Containing chapters that bring in international experiences relevant to Asia and other emerging market economies, this insightful book will appeal to policymakers in governments and financial institutions, as well as public and private finance experts. It will also be of great interest to advanced students and academic researchers in finance.
Managing Volatile Capital Flows: Experiences and Lessons for Sub-Saharan African Frontier Markets by Cheikh A. Gueye,Mr.Javier Arze del Granado,Mr.Rodrigo Garcia-Verdu,Mr.Mumtaz Hussain,Mr.B. Jang,Mr.Sebastian Weber,Mr.Juan S Corrales Pdf
During the past three years the frontier markets of sub-Saharan Africa have received growing amounts of portfolio capital flows, with heightened interest from foreign investors. Compared with foreign direct investment, portfolio capital flows tend to be more volatile, and thus pose challenges for sub-Saharan African frontier markets. This study examines the evolution of capital flows since 2010 and discusses the policies these countries have designed to reduce risks from the inherent volatility of these flows.
Author : International Monetary Fund Publisher : International Monetary Fund Page : 45 pages File Size : 46,7 Mb Release : 2014-06-11 Category : Business & Economics ISBN : 9781498342629
Staff Guidance Note on Macroprudential Policy by International Monetary Fund Pdf
This note provides guidance to facilitate the staff’s advice on macroprudential policy in Fund surveillance. It elaborates on the principles set out in the “Key Aspects of Macroprudential Policy,” taking into account the work of international standard setters as well as the evolving country experience with macroprudential policy. The main note is accompanied by supplements offering Detailed Guidance on Instruments and Considerations for Low Income Countries
The Politics of American Economic Policy Making by Paul Peretz Pdf
A reader on American government and the economy. It contains wide-ranging articles by people such as Richard Musgrave, Milton Friedman, James Buchanan, and Alan Greenspan.
International Finance and The Developing Economies by G. Bird Pdf
There are many challenges facing the economies of developing countries. Capital volatility, financial crises, aid, debt and the IMF are all issues that have received a great deal of attention over recent years. In International Finance and The Developing Economies , Graham Bird provides an essentially non-technical discussion of these issues, examining the underlying political economy and discussing the policy alternatives that are available.
Capital Flows at Risk: Taming the Ebbs and Flows by Mr.R. G Gelos,Lucyna Gornicka,Mr.Robin Koepke,Ms.Ratna Sahay,Ms.Silvia Sgherri Pdf
The volatility of capital flows to emerging markets continues to pose challenges to policymakers. In this paper, we propose a new framework to answer critical policy questions: What policies and policy frameworks are most effective in dampening sharp capital flow movements in response to global shocks? What are the near- versus medium-term trade-offs of different policies? We tackle these questions using a quantile regression framework to predict the entire future probability distribution of capital flows to emerging markets, based on current domestic structural characteristics, policies, and global financial conditions. This new approach allows policymakers to quantify capital flows risks and evaluate policy tools to mitigate them, thus building the foundation of a risk management framework for capital flows.
