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Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type?
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| Zeitschriftentitel: | Asian Economic Papers |
|---|---|
| Personen und Körperschaften: | , , |
| In: | Asian Economic Papers, 17, 2018, 1, S. 22-41 |
| Format: | E-Article |
| Sprache: | Englisch |
| veröffentlicht: |
MIT Press - Journals
|
| Schlagwörter: |
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Eichengreen, Barry Gupta, Poonam Masetti, Oliver Eichengreen, Barry Gupta, Poonam Masetti, Oliver |
|---|---|
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Eichengreen, Barry Gupta, Poonam Masetti, Oliver |
| spellingShingle |
Eichengreen, Barry Gupta, Poonam Masetti, Oliver Asian Economic Papers Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type? Political Science and International Relations Economics and Econometrics Finance |
| author_sort |
eichengreen, barry |
| spelling |
Eichengreen, Barry Gupta, Poonam Masetti, Oliver 1535-3516 1536-0083 MIT Press - Journals Political Science and International Relations Economics and Econometrics Finance http://dx.doi.org/10.1162/asep_a_00583 <jats:p> According to conventional wisdom, capital flows are fickle. Focusing on emerging markets, we ask whether this conventional wisdom still holds in our contemporary world. Our results show that, despite recent structural and regulatory changes, much of it survives. Foreign direct investment (FDI) inflows are more stable than non-FDI inflows. Within non-FDI inflows, portfolio debt and bank-intermediated flows remain the most volatile. Whereas FDI inflows are driven mainly by pull factors, portfolio debt and equity are driven mainly by push factors; bank-intermediated flows are driven a combination of push and pull factors. Capital outflows from emerging markets behave differently, however. FDI outflows from emerging markets have grown and become significantly more volatile. There is similarly an increase in the volatility of bank-intermediated capital outflows from emerging markets. Our findings underscore that outflows from emerging markets, both FDI and bank-related flows, have come to play a growing role and warrant greater attention from analysts and policymakers. </jats:p> Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type? Asian Economic Papers |
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| title |
Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type? |
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Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type? |
| title_full |
Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type? |
| title_fullStr |
Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type? |
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Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type? |
| title_short |
Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type? |
| title_sort |
are capital flows fickle? increasingly? and does the answer still depend on type? |
| topic |
Political Science and International Relations Economics and Econometrics Finance |
| url |
http://dx.doi.org/10.1162/asep_a_00583 |
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2018 |
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22-41 |
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<jats:p> According to conventional wisdom, capital flows are fickle. Focusing on emerging markets, we ask whether this conventional wisdom still holds in our contemporary world. Our results show that, despite recent structural and regulatory changes, much of it survives. Foreign direct investment (FDI) inflows are more stable than non-FDI inflows. Within non-FDI inflows, portfolio debt and bank-intermediated flows remain the most volatile. Whereas FDI inflows are driven mainly by pull factors, portfolio debt and equity are driven mainly by push factors; bank-intermediated flows are driven a combination of push and pull factors. Capital outflows from emerging markets behave differently, however. FDI outflows from emerging markets have grown and become significantly more volatile. There is similarly an increase in the volatility of bank-intermediated capital outflows from emerging markets. Our findings underscore that outflows from emerging markets, both FDI and bank-related flows, have come to play a growing role and warrant greater attention from analysts and policymakers. </jats:p> |
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| description | <jats:p> According to conventional wisdom, capital flows are fickle. Focusing on emerging markets, we ask whether this conventional wisdom still holds in our contemporary world. Our results show that, despite recent structural and regulatory changes, much of it survives. Foreign direct investment (FDI) inflows are more stable than non-FDI inflows. Within non-FDI inflows, portfolio debt and bank-intermediated flows remain the most volatile. Whereas FDI inflows are driven mainly by pull factors, portfolio debt and equity are driven mainly by push factors; bank-intermediated flows are driven a combination of push and pull factors. Capital outflows from emerging markets behave differently, however. FDI outflows from emerging markets have grown and become significantly more volatile. There is similarly an increase in the volatility of bank-intermediated capital outflows from emerging markets. Our findings underscore that outflows from emerging markets, both FDI and bank-related flows, have come to play a growing role and warrant greater attention from analysts and policymakers. </jats:p> |
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| spelling | Eichengreen, Barry Gupta, Poonam Masetti, Oliver 1535-3516 1536-0083 MIT Press - Journals Political Science and International Relations Economics and Econometrics Finance http://dx.doi.org/10.1162/asep_a_00583 <jats:p> According to conventional wisdom, capital flows are fickle. Focusing on emerging markets, we ask whether this conventional wisdom still holds in our contemporary world. Our results show that, despite recent structural and regulatory changes, much of it survives. Foreign direct investment (FDI) inflows are more stable than non-FDI inflows. Within non-FDI inflows, portfolio debt and bank-intermediated flows remain the most volatile. Whereas FDI inflows are driven mainly by pull factors, portfolio debt and equity are driven mainly by push factors; bank-intermediated flows are driven a combination of push and pull factors. Capital outflows from emerging markets behave differently, however. FDI outflows from emerging markets have grown and become significantly more volatile. There is similarly an increase in the volatility of bank-intermediated capital outflows from emerging markets. Our findings underscore that outflows from emerging markets, both FDI and bank-related flows, have come to play a growing role and warrant greater attention from analysts and policymakers. </jats:p> Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type? Asian Economic Papers |
| spellingShingle | Eichengreen, Barry, Gupta, Poonam, Masetti, Oliver, Asian Economic Papers, Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type?, Political Science and International Relations, Economics and Econometrics, Finance |
| title | Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type? |
| title_full | Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type? |
| title_fullStr | Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type? |
| title_full_unstemmed | Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type? |
| title_short | Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type? |
| title_sort | are capital flows fickle? increasingly? and does the answer still depend on type? |
| title_unstemmed | Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type? |
| topic | Political Science and International Relations, Economics and Econometrics, Finance |
| url | http://dx.doi.org/10.1162/asep_a_00583 |