Capital Flows And Growth In Developing Countries PDF Download
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Author | : Bailliu, Jeannine N |
Publisher | : |
Total Pages | : 22 |
Release | : 2000 |
Genre | : Capital movements Developing countries 1971- |
ISBN | : |
Download Private Capital Flows, Financial Development, and Economic Growth in Developing Countries [electronic Resource] Book in PDF, ePub and Kindle
Author | : Marcelo Soto |
Publisher | : |
Total Pages | : 40 |
Release | : 2000 |
Genre | : Capital movements |
ISBN | : |
Download Capital Flows and Growth in Developing Countries Book in PDF, ePub and Kindle
Author | : |
Publisher | : |
Total Pages | : |
Release | : 2000 |
Genre | : |
ISBN | : |
Download Capital Flows and Growth in Developing Countries Book in PDF, ePub and Kindle
Author | : Martin Feldstein |
Publisher | : University of Chicago Press |
Total Pages | : 500 |
Release | : 2007-12-01 |
Genre | : Business & Economics |
ISBN | : 0226241807 |
Download International Capital Flows Book in PDF, ePub and Kindle
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.
Author | : Mr.Thierry Tressel |
Publisher | : International Monetary Fund |
Total Pages | : 46 |
Release | : 2010-10-01 |
Genre | : Business & Economics |
ISBN | : 145520935X |
Download International Capital Flows and Development Book in PDF, ePub and Kindle
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.
Author | : Barry J. Eichengreen |
Publisher | : MIT Press |
Total Pages | : 396 |
Release | : 2004 |
Genre | : Business & Economics |
ISBN | : 9780262550598 |
Download Capital Flows and Crises Book in PDF, ePub and Kindle
An analysis of the connections between capital flows and financial crises as well as between capital flows and economic growth.
Author | : Alberto E. Isgrt |
Publisher | : Universal-Publishers |
Total Pages | : 175 |
Release | : 1997-10 |
Genre | : Business & Economics |
ISBN | : 1581120028 |
Download Investment in Developing Countries Book in PDF, ePub and Kindle
The enhanced access of developing countries to the international financial market since the seventies has been characterized by boom-bust cycles of unfettered external borrowing followed by abrupt financial crises. The first chapter analyzes the macroeconomic effects of volatile capital flows to a developing country. The analysis shows that investment, consumption, and the current account deficit depend positively on the expected availability of external finance. If international investors may unexpectedly decide to reduce their exposure to financial assets issued by the country, the optimal cost of external borrowing should exceed the interest rate paid by domestic residents in the international financial market. In the absence of insurance markets for this type of risk, a tax on capital inflows can be optimal. Recent endogenous growth models characterize a firm's technology as a commodity which is both partly excludable and associated with some production inputs, such as human capital and equipment. The second chapter explores the nature of the link between equipment investment and technology at the plant level in a large sample of Colombian manufacturing establishments. The results support the endogenous growth model's notion that technology is associated with the production inputs. Larger plants that invest more in machinery and equipment and employ higher levels of human capital tend to be more efficient. Models of investment with non-convex costs of adjustment predict that microeconomic time series of investment may be characterized by infrequent investment spurts and prolonged periods of little or no investment. In the third chapter I study the pattern of investment at the plant level in different categories of capital goods. As in the U.S., plant-level investment in Colombia is lumpy, and the probability of observing a large investment episode depends positively on the time elapsed since the latest large investment episode. As a contribution to the literature, I propose and implement two alternative econometric methods for the estimation of a simple model of irreversible investment. The results show that increases in the real exchange rate (pesos per dollar) have a consistently negative effect on investment, regardless of the type of capital good.
Author | : Miles Kahler |
Publisher | : Cornell University Press |
Total Pages | : 284 |
Release | : 2018-09-05 |
Genre | : Political Science |
ISBN | : 1501731408 |
Download Capital Flows and Financial Crises Book in PDF, ePub and Kindle
Capital flows to the developing economies have long displayed a boom-and-bust pattern. Rarely has the cycle turned as abruptly as it did in the 1990s, however: surges in lending were followed by the Mexican peso crisis of 1994-95 and the sudden collapse of currencies in Asia in 1997. This volume maps a new and uncertain financial landscape, one in which volatile private capital flows and fragile banking systems produce sudden reversals of fortune for governments and economies. This environment creates dilemmas for both national policymakers who confront the "mixed blessing" of capital inflows and the international institutions that manage the recurrent crises.The authors—leading economists and political scientists—examine private capital flows and their consequences in Latin America, Pacific Asia, and East Europe, placing current cycles of lending in historical perspective. National governments have used a variety of strategies to deal with capital-account instability. The authors evaluate those responses, prescribe new alternatives, and consider whether the new circumstances require novel international policies.
Author | : Paolo Giordani |
Publisher | : International Monetary Fund |
Total Pages | : 47 |
Release | : 2014-08-08 |
Genre | : Business & Economics |
ISBN | : 1498383203 |
Download Capital Flow Deflection Book in PDF, ePub and Kindle
This paper focuses on the coordination problem among borrowing countries imposing controls on capital infl ows. In a simple model of capital flows and controls, we show that inflow restrictions distort international capital flows to other countries and that, in turn, such capital flow deflection may lead to a policy response. We then test the theory using data on inflow restrictions and gross capital inflows for a large sample of developing countries between 1995 and 2009. Our estimation yields strong evidence that capital controls deflect capital flows to other borrowing countries with similar economic characteristics. Notwithstanding these strong cross-border spillover effects, we do not find evidence of a policy response.
Author | : Mr.Damiano Sandri |
Publisher | : International Monetary Fund |
Total Pages | : 28 |
Release | : 2010-02-01 |
Genre | : Business & Economics |
ISBN | : 1451962800 |
Download Growth and Capital Flows with Risky Entrepreneurship Book in PDF, ePub and Kindle
This paper shows that the behavior of entrepreneurs facing incomplete financial markets and risky investment can explain why growth accelerations in developing countries tend to be associated with current account improvements. The uninsurable risk of losing invested capital forces entrepreneurs to rely on self-financing, so that when business opportunities open up entrepreneurs increase saving to finance the investment that produces growth. The key insight is that saving has to rise more than investment to allow also for the accumulation of precautionary assets. Plausibly calibrated simulations show that this net saving increase can sustain large and persistent net capital outflows.