Access the full text.
Sign up today, get DeepDyve free for 14 days.
International Monetary Fund
International Financial Statistics
Carmen Reinhart, L. Leiderman (1992)
Capital inflows to Latin America
World Bank
World Development Indicators
P. Phillips (1988)
Testing for a Unit Root in Time Series Regression
Leonardo Hernández, P. Mellado, R. Valdes (2001)
Determinants of Private Capital Flows in the 1970s and 1990s: Is There Evidence of Contagion?International Monetary Fund (IMF) Research Paper Series
P. Lois (2001)
Capital flow and foreign interest rate disturbances in a small open economyJournal of Macroeconomics, 23
Punam Chuhan, S. Claessens, Nlandu Mamingi (1998)
Equity and bond flows to Latin America and Asia: the role of global and country factorsJournal of Development Economics, 55
Carmen Reinhart, G. Calvo, L. Leiderman (1992)
Capital Inflows to Latin America; The 1970's and the 1990'sIMF Working Papers, 92
A. Fleming (1981)
Private capital flows to developing countries and their determination : historical perspectives, recent experience, and future prospects
A. Mananyi, J. Struthers (1997)
Cocoa market efficiency: a cointegration approachJournal of Economic Studies, 24
World Bank
Private Capital Flows to Developing Countries: The Road to Financial Integration
R. Lensink, H. White (1998)
Does the revival of international private capital flows mean the end of aid? An analysis of developing countries' access to private capitalWorld Development, 26
H. Bohn, L. Tesar (1996)
U.S. Equity Investment in Foreign Markets: Portfolio Rebalancing or Return Chasing?The American Economic Review, 86
M. Carlson, Leonardo Hernández (2002)
Determinants and Repercussions of the Composition of Capital InflowsLatin American Economics
Eduardo Fernández-Arias (1996)
The new wave of private capital inflows: Push or pull?Journal of Development Economics, 48
Zhaohui Chen, Mohsin Khan (1997)
Patterns of Capital Flows to Emerging Markets: A Theoretical PerspectiveInternational Finance
O.J. Blanchard, D. Quah
The dynamic effects of aggregate supply and demand disturbances
Glauco Vita, K. Kyaw (2009)
Growth effects of FDI and portfolio investment flows to developing countries: a disaggregated analysis by income levelsApplied Economics Letters, 16
R. MacDonald (1999)
Exchange Rate Behaviour: Are Fundamentals Important?The Economic Journal, 109
C.R. Harvey
Predictable risk in emerging markets
P. Montiel, Carmen Reinhart (1999)
Do capital controls and macroeconomic policies influence the volume and composition of capital flows? Evidence from the 1990sJournal of International Money and Finance, 18
International Monetary Fund
Measurement of International Capital Flows
Sunil Sharma, Nadeem Haque, Donald Mathieson (1997)
Causes of Capital Inflows and Policy Responses to Them
Purpose – The aim of the study is to investigate the relative significance of the determinants of disaggregated capital flows (foreign direct investment and portfolio flows) to five developing countries, across different time horizons. Design/methodology/approach – An empirically tractable structural VAR model of the determinants of capital flows is developed, and variance decomposition and impulse response analyses are used to investigate the temporal dynamic effects of shocks to push and pull factors on foreign direct investment and portfolio flows. Findings – Estimation of the model using quarterly data for the period 1976‐2001 provides evidence supporting the hypothesis that shocks to real variables of economic activity such as foreign output and domestic productivity are the most important forces explaining the variations in capital flows to developing countries. Research limitations/implications – These findings highlight the concomitant need for policy makers in developing countries to design domestic policy that accounts for both external and internal shocks to real variables of economic activity. Originality/value – Previous empirical studies on the determinants of capital flows to developing countries have mostly examined the capital flow variable in aggregate, and have largely overlooked the possibility that the relative significance of estimated coefficients of such determinants may vary across time horizons.
Journal of Economic Studies – Emerald Publishing
Published: Sep 5, 2008
Keywords: Capital; International investments; Portfolio investment; Developing countries
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.