Non Fdi Capital Inflows In Low Income Developing Countries

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Non-FDI Capital Inflows in Low-Income Developing Countries

Juliana Dutra Araujo,Mr.Antonio David,Carlos van Hombeeck,Mr.Chris Papageorgiou
Non FDI Capital Inflows in Low Income Developing Countries Book PDF

Author : Juliana Dutra Araujo,Mr.Antonio David,Carlos van Hombeeck,Mr.Chris Papageorgiou
Publisher : International Monetary Fund
Page : 41 pages
File Size : 46,6 Mb
Release : 2015-04-29
Category : Business & Economics
ISBN : 9781484341087

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Non-FDI Capital Inflows in Low-Income Developing Countries by Juliana Dutra Araujo,Mr.Antonio David,Carlos van Hombeeck,Mr.Chris Papageorgiou Pdf

Low-income countries (LIDCs) are typically characterized by intermittent and very modest access to private external funding sources. Motivated by recent developments in private flows to LIDCs this paper makes two contributions: First, it constructs a new comprehensive dataset on gross private capital flows with special focus on non-FDI flows in LIDCs. Concentrating on LIDCs and more specifically on gross non-FDI private flows is intentionally aimed at closing a gap in existing datasets where country coverage of developing economies is limited mainly to emerging markets (EMs). Second, using the new data, it identifies several shifting patterns of gross non-FDI private inflows to LIDCs. A surprising fact emerges: since the mid 2000's periods of surges in gross non-FDI private inflows in LIDCs are broadly comparable to those of EMs. Moreover, while gross non-FDI inflows to LIDCs are on average much lower than those to EMs, we show that the LIDC top quartile gross non-FDI inflow is comparable to the EM median inflow and converging to the EM top quartile inflow.

Non-FDI Capital Inflows in Low-Income Developing Countries

Juliana Dutra Araujo
Non FDI Capital Inflows in Low Income Developing Countries Book PDF

Author : Juliana Dutra Araujo
Publisher : Unknown
Page : 60 pages
File Size : 41,7 Mb
Release : 2015
Category : Electronic books
ISBN : 1484342119

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Non-FDI Capital Inflows in Low-Income Developing Countries by Juliana Dutra Araujo Pdf

This paper constructs a new dataset on gross private capital flows in LIDCs and identifies several shifting patterns.

The Landscape of Capital Flows to Low-Income Countries

Sukhwinder Singh,Ms.Zuzana Brixiova,Mr.Thomas William Dorsey,Mr.Helaway Tadesse
The Landscape of Capital Flows to Low Income Countries Book PDF

Author : Sukhwinder Singh,Ms.Zuzana Brixiova,Mr.Thomas William Dorsey,Mr.Helaway Tadesse
Publisher : International Monetary Fund
Page : 80 pages
File Size : 50,5 Mb
Release : 2008-02-01
Category : Business & Economics
ISBN : 9781451869132

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The Landscape of Capital Flows to Low-Income Countries by Sukhwinder Singh,Ms.Zuzana Brixiova,Mr.Thomas William Dorsey,Mr.Helaway Tadesse Pdf

This paper reviews trends in capital flows and capital-like flows such as official grants and remittances to low-income countries over the period 1981-2006. The survey reveals a broadbased increase in such flows as a share of low-income country GDP across major regions, countries with differing commodity export composition, and countries with differing debt relief status. The increase in inflows is dominated by an increase in private sector inflows, mostly in the form of private transfers and foreign direct investment. Official sector inflows have remained comparatively constant as a share of low-income country GDP and even declined in the most recent years. The paper concludes with some tentative policy conclusions and has a discussion of data issues in the annexes.

Joining the Club? Procyclicality of Private Capital Inflows in Low Income Developing Countries

Juliana Dutra Araujo,Mr. Antonio David,Carlos van Hombeeck,Chris Papageorgiou
Joining the Club Procyclicality of Private Capital Inflows in Low Income Developing Countries Book PDF

Author : Juliana Dutra Araujo,Mr. Antonio David,Carlos van Hombeeck,Chris Papageorgiou
Publisher : International Monetary Fund
Page : 42 pages
File Size : 42,8 Mb
Release : 2015-07-17
Category : Business & Economics
ISBN : 9781513552262

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Joining the Club? Procyclicality of Private Capital Inflows in Low Income Developing Countries by Juliana Dutra Araujo,Mr. Antonio David,Carlos van Hombeeck,Chris Papageorgiou Pdf

Using a newly developed dataset this paper examines the cyclicality of private capital inflows to low-income developing countries (LIDCs) over the period 1990-2012. The empirical analysis shows that capital inflows to LIDCs are procyclical, yet considerably less procyclical than flows to more advanced economies. The analysis also suggests that flows to LIDCs are more persistent than flows to emerging markets (EMs). There is also evidence that changes in risk aversion are a significant correlate of private capital inflows with the expected sign, but LIDCs seem to be less sensitive to changes in global risk aversion than EMs. A host of robustness checks to alternative estimation methods, samples, and control variables confirm the baseline results. In terms of policy implications, these findings suggest that private capital inflows are likely to become more procyclical as LIDCs move along the development path, which could in turn raise several associated policy challenges, not the least concerning the reform of traditional monetary policy frameworks.

Capital Account Openness in Low-income Developing Countries

Mrs.Sarwat Jahan,Daili Wang
Capital Account Openness in Low income Developing Countries Book PDF

Author : Mrs.Sarwat Jahan,Daili Wang
Publisher : International Monetary Fund
Page : 26 pages
File Size : 44,5 Mb
Release : 2017-01-18
Category : Business & Economics
ISBN : 9781475567915

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Capital Account Openness in Low-income Developing Countries by Mrs.Sarwat Jahan,Daili Wang Pdf

The relevance of recording and assessing countries’ capital flow management measures is well-recognized, but very few studies have focused on low-income developing countries (LIDCs). A key constraint is the lack of an appropriate index to measure the openness of capital account and its change over time. This paper fills the gap by constructing a de jure index based on information contained in the IMF’s Annual Report on Exchange Arrangements and Exchange Restrictions. It provides an aggregate index to capture the overall openness of the capital account, and also provides a breakdown of openness for various subcategories of capital flows. The new database covers 164 countries with information on 12 types of asset categories over the period 1996–2013. The index provides the largest coverage of LIDCs among all existing indices and also provides granularity on openness across asset types, direction of flows and residency. The paper examines the link between de jure capital account openness with de facto capital flows and outlines potential applications of this database.

FDI Flows to Low-Income Countries

International Monetary Fund
FDI Flows to Low Income Countries Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 40 pages
File Size : 48,5 Mb
Release : 2010-06-01
Category : Business & Economics
ISBN : 9781455201150

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FDI Flows to Low-Income Countries by International Monetary Fund Pdf

What accounts for variations in FDI flows from advanced to developing countries? How have FDI inflows explained cross-country growth experiences? In this paper we tackle both these questions empirically for a large sample of middle and low-income countries. Two key results emerge: (i) lower borrowing costs and positive real-side external factors were increasingly important drivers of FDI outflows to low-income countries in the pre-crisis period; (ii) economic fundamentals, the strength of economic reforms, and commitment to macroeconomic discipline are crucial determinants of the growth dividends of FDI. Our paper suggests that low-income countries can turn to domestic policy solutions to mitigate the adverse effects of a potential decline in FDI in the post-crisis world.

International Capital Flows and Development

Mr.Thierry Tressel,Dennis B. S. Reinhardt,Mr.Luca Antonio Ricci
International Capital Flows and Development Book PDF

Author : Mr.Thierry Tressel,Dennis B. S. Reinhardt,Mr.Luca Antonio Ricci
Publisher : International Monetary Fund
Page : 46 pages
File Size : 51,8 Mb
Release : 2010-10-01
Category : Business & Economics
ISBN : 9781455209354

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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.

Opening Up: Capital Flows and Financial Sector Dynamics in Low-Income Developing Countries

Sebastian Horn,Mr. Futoshi Narita
Opening Up Capital Flows and Financial Sector Dynamics in Low Income Developing Countries Book PDF

Author : Sebastian Horn,Mr. Futoshi Narita
Publisher : International Monetary Fund
Page : 49 pages
File Size : 46,7 Mb
Release : 2021-09-24
Category : Business & Economics
ISBN : 9781513597720

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Opening Up: Capital Flows and Financial Sector Dynamics in Low-Income Developing Countries by Sebastian Horn,Mr. Futoshi Narita Pdf

Over the past two decades, many low-income developing countries have substantially increased openness towards external financing and have received large capital inflows. Using bank-level micro data, this paper finds that capital inflows have been associated with financial deepening through increases in bank loans, deposits, and wholesale funding. Domestic banks increase loans more than foreign banks. There are only modest signs of a build-up in financial vulnerabilities. Causality is examined through an instrumental variable approach and an augmented inverse-probability weighting estimator. These approaches indicate only limited evidence for global push effects, pointing towards the importance of domestic pull factors.

Foreign Direct Investment in Developing Countries

Sarbajit Chaudhuri,Ujjaini Mukhopadhyay
Foreign Direct Investment in Developing Countries Book PDF

Author : Sarbajit Chaudhuri,Ujjaini Mukhopadhyay
Publisher : Springer
Page : 327 pages
File Size : 41,9 Mb
Release : 2014-07-08
Category : Business & Economics
ISBN : 9788132218982

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Foreign Direct Investment in Developing Countries by Sarbajit Chaudhuri,Ujjaini Mukhopadhyay Pdf

In development literature Foreign Direct Investment (FDI) is traditionally considered to be instrumental for the economic growth of all countries, particularly the developing ones. It acts as a panacea for breaking out of the vicious circle of low savings/low income and facilitates the import of capital goods and advanced technical knowhow. This book delves into the complex interaction of FDI with diverse factors. While FDI affects the efficiency of domestic producers through technological diffusion and spill-over effects, it also impinges on the labor market, affecting unemployment levels, human capital formation, wages (and wage inequality) and poverty; furthermore, it has important implications for socio-economic issues such as child labor, agricultural disputes over Special Economic Zones (SEZ) and environmental pollution. The empirical evidence with regard to most of the effects of FDI is highly mixed and reflects the fact that there are a number of mechanisms involved that interact with each other to produce opposing results. The book highlights the theoretical underpinnings behind the inherent contradictions and shows that the final outcome depends on a number of country-specific factors such as the nature of non-traded goods, factor endowments, technological and institutional factors. Thus, though not exhaustive, the book integrates FDI within most of the existing economic systems in order to define its much-debated role in developing economies. A theoretical analysis of the different facets of FDI as proposed in the book is thus indispensable, especially for the formulation of appropriate policies for foreign capital.

The Impact of IMF-Supported Programs on FDI in Low-income Countries

Mr. Ali J Al-sadiq
The Impact of IMF Supported Programs on FDI in Low income Countries Book PDF

Author : Mr. Ali J Al-sadiq
Publisher : International Monetary Fund
Page : 38 pages
File Size : 49,9 Mb
Release : 2015-07-16
Category : Business & Economics
ISBN : 9781513565736

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The Impact of IMF-Supported Programs on FDI in Low-income Countries by Mr. Ali J Al-sadiq Pdf

It is common for IMF-supported adjustment programs with low-income member countries (LICs) to project that they will facilitate FDI inflows. The main objective of this paper is to empirically examine this hypothesis. Using an unbalanced panel dataset for 73 low-income countries over the period 1980–2012, and two different econometric methods that address the selection-bias problem, the empirical results robustly show that participating in IMF-supported program is associated with a significant increase in FDI inflows.

The Landscape of Capital Flows to Low-income Countries

Anonim
The Landscape of Capital Flows to Low income Countries Book PDF

Author : Anonim
Publisher : Unknown
Page : 82 pages
File Size : 53,8 Mb
Release : 2008
Category : Capital movements
ISBN : UCSD:31822036082782

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The Landscape of Capital Flows to Low-income Countries by Anonim Pdf

This paper reviews trends in capital flows and capital-like flows such as official grants and remittances to low-income countries over the period 1981-2006. The survey reveals a broad based increase in such flows as a share of low-income country GDP across major regions, countries with differing commodity export composition, and countries with differing debt relief status. The increase in inflows is dominated by an increase in private sector inflows, mostly in the form of private transfers and foreign direct investment. Official sector inflows have remained comparatively constant as a share of low-income country GDP and even declined in the most recent years. The paper concludes with some tentative policy conclusions and has a discussion of data issues in the annexes.

Capital Flows, Exchange Rate Flexibility, and the Real Exchange Rate

Mr.Tidiane Kinda,Jean-Louis Combes,Patrick Plane
Capital Flows Exchange Rate Flexibility and the Real Exchange Rate Book PDF

Author : Mr.Tidiane Kinda,Jean-Louis Combes,Patrick Plane
Publisher : International Monetary Fund
Page : 35 pages
File Size : 41,8 Mb
Release : 2011-01-01
Category : Business & Economics
ISBN : 9781455211876

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Capital Flows, Exchange Rate Flexibility, and the Real Exchange Rate by Mr.Tidiane Kinda,Jean-Louis Combes,Patrick Plane Pdf

This paper analyzes the impact of capital inflows and exchange rate flexibility on the real exchange rate in developing countries based on panel cointegration techniques. The results show that public and private flows are associated with a real exchange rate appreciation. Among private flows, portfolio investment has the highest appreciation effect-almost seven times that of foreign direct investment or bank loans-and private transfers have the lowest effect. Using a de facto measure of exchange rate flexibility, we find that a more flexible exchange rate helps to dampen appreciation of the real exchange rate stemming from capital inflows.

Can the Neoclassical Model Explain the Distribution of Foreign Direct Investment Across Developing Countries?

Mr.Harm Zebregs
Can the Neoclassical Model Explain the Distribution of Foreign Direct Investment Across Developing Countries Book PDF

Author : Mr.Harm Zebregs
Publisher : International Monetary Fund
Page : 29 pages
File Size : 42,6 Mb
Release : 1998-09-01
Category : Business & Economics
ISBN : 9781451929607

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Can the Neoclassical Model Explain the Distribution of Foreign Direct Investment Across Developing Countries? by Mr.Harm Zebregs Pdf

Since the beginning of the 1990s, foreign direct investment (FDI) in developing countries has increased dramatically. The distribution of FDI flows across these countries, however, is highly uneven; only a small number attract comparatively large amounts of foreign capital. This paper investigates whether the pattern of FDI flows can be explained by the standard neoclassical model or by modified versions of this model that allow for differences in production technologies across countries. The results suggest that the standard neoclassical approach is not particularly useful if we want to understand FDI flows to developing countries.

Foreign Private Investment in Developing Countries

International Monetary Fund. Research Department
Foreign Private Investment in Developing Countries Book PDF

Author : International Monetary Fund. Research Department
Publisher : International Monetary Fund
Page : 56 pages
File Size : 53,6 Mb
Release : 1985-01-15
Category : Business & Economics
ISBN : MINN:31951D009976451

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Foreign Private Investment in Developing Countries by International Monetary Fund. Research Department Pdf

Since the early 1970s foreign direct and portfolio equity investment flows into developing countries, although continuing to increase in absolute terms, have been relatively less important than in previous years, as foreign private capital flows have been dominated by debt-creating bank credit.

Financial Globalization and Inequality: Capital Flows as a Two-Edged Sword

Mr.Barry J. Eichengreen,Mr.Balazs Csonto,Ms.Asmaa A ElGanainy,Zsoka Koczan
Financial Globalization and Inequality Capital Flows as a Two Edged Sword Book PDF

Author : Mr.Barry J. Eichengreen,Mr.Balazs Csonto,Ms.Asmaa A ElGanainy,Zsoka Koczan
Publisher : International Monetary Fund
Page : 37 pages
File Size : 47,5 Mb
Release : 2021-01-08
Category : Business & Economics
ISBN : 9781513566382

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Financial Globalization and Inequality: Capital Flows as a Two-Edged Sword by Mr.Barry J. Eichengreen,Mr.Balazs Csonto,Ms.Asmaa A ElGanainy,Zsoka Koczan Pdf

We review the debate on the association of financial globalization with inequality. We show that the within-country distributional impact of capital account liberalization is context specific and that different types of flows have different distributional effects. Their overall impact depends on the composition of capital flows, their interaction, and on broader economic and institutional conditions. A comprehensive set of policies – macroeconomic, financial and labor- and product-market specific – is important for facilitating wider sharing of the benefits of financial globalization.