Determinants and systemic consequences of international capital flows: a study by the Research Department of the International Monetary Fund
Gespeichert in:
| Format: | Buch |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
Washington, DC
1991
|
| Schriftenreihe: | International Monetary Fund: Occasional paper
77 |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | VII, 94 S. graph. Darst. |
| ISBN: | 1557752052 |
Internformat
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Datensatz im Suchindex
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| adam_text | Contents
Page
Preface vii
I. Determinants and Systemic Consequences of
International Capital Flows 1
Morris Goldstein, Donald J. Mathieson, and Timothy Lane
Trends in International Capital Flows 3
Measurement of Capital Flows
Major Trends
Sharp Expansion in Scale of Net and Gross Capital
Flows in Major Industrial Countries
Globalization and Integration of Offshore and Major
Domestic Financial Markets
Dominant Role of Private Flows in Financing Fiscal and
Current Account Imbalances
Similarities Between Early 1970s and Late 1980s in
Pattern of Official and Private Capital Flows to
Developing Countries
Determinants of International Capital Flows 19
Role of Financial Markets and the Fundamental
Determinants of Capital Flows
Official Policies, Market Imperfections, and Capital Flows
Influence of Official Policies
Market Imperfections
Systemic Consequences and Policy Issues 25
Financial Integration and Innovation, Macroeconomic Policy
Effectiveness, and Policy Coordination
Effectiveness of Monetary Policy
Fiscal Policy
Coordination of Financial and Macroeconomic Policies
Institutional Structure, Stability, and Contagion
Efficiency and Stability in International Financial
Markets
Measures to Contain Systemic Risks in International
Financial Markets
Institutional Strengthening
Strengthening Clearance, Settlement, and Payment
Systems
Crisis Management
Role of Official Capital Flows
Page
International Capital Markets and Developing Countries
Current Linkages
Prospects
Developing Countries Use of Markets and
Instruments
Policies to Increase the Availability of Savings to
Developing Countries
References 44
II. Systemic Financial Risk in Payment Systems 46
David Folkerts Landau
Payment Systems: Role, Evolution, and Public Policy Issues 46
Role of Payment Systems
Evolution of Payment Systems
Public Policy Issues
Main Features and Examples of Payment Systems 49
Main Features
Examples of Major Payment Systems
Risk in Payment Systems 54
Policy Initiatives to Reduce Risk in Payment Systems 55
Summary and Conclusions 59
Appendix I 61
Appendix II 64
References 65
III. Foreign Direct Investment 68
J. Saul Lizondo
Theories Assuming Perfect Markets 68
Differential Rates of Return
Portfolio Diversification
Output and Market Size
Theories Based on Imperfect Markets 70
Industrial Organization
Internalization
An Eclectic Approach
Product Cycle
Oligopolistic Reaction
Other Theories of Foreign Direct Investment 73
Liquidity
Currency Area
Diversification with Barriers to International Capital Flows
The Kojima Hypothesis
Other Variables 77
Political Instability
Tax Policy
Government Regulations
Conclusions 79
References 80
D
Page
IV. Risk and Capital Flight in Developing Countries 83
Liliana Rojas Suarez
Estimation of Capital Flight 83
Risk and Capital Flight 86
Policies to Prevent or Reverse Capital Flight 88
Macroeconomic and Structural Policies
Capital Controls
Debt Equity Swaps
Foreign Currency Deposits
Other Policies
Conclusions 91
References 91
Tables
I. 1. Global Balances on Capital Account, 1982 88 4
2. Net International Capital Flows of Major Industrial Countries,
1970 88 5
3. International Bank Lending and International Bonds, 1973
First Three Quarters of 1989 6
4. Bid Ask Spreads on Eurocurrency Deposits 7
5. Non Oil Developing Countries: External Financing, 1969 79 12
6. Non Oil Developing Countries: External Financing, 1980 89 13
7. Oil Exporting Developing Countries: External Financing,
1969 79 14
8. Oil Exporting Developing Countries: External Financing,
1980 89 15
9. Net Debtor Developing Countries: External Financing,
1969 79 17
10. Net Debtor Developing Countries: External Financing,
1980 89 18
11. Characteristics of Selected Financial Crises in Major Industrial
Countries and Eurocurrency Markets, 1970 89 32
12. External Risk Management in Developing Countries 42
II. 1. Estimated Aggregate Transactions by Survey Category by
Wire System 52
2. Caps on Daylight Overdrafts Across Payment Systems 55
3. Summary of U.S. Federal Reserve Board Proposals for Risk
Reduction in Payments System 57
4. United States: Payments System, 1987 61
5. Japan: Payments System, 1987 61
6. Germany: Payments System, 1987 62
7. United Kingdom: Payments System, Year End 1987 63
8. France: Payments System, 1987 63
9. Switzerland: Payments System, 1987 64
IV. 1. Capital Flight in Ratio to Total External Debt and Total
External Claims for a Group of Highly Indebted
Developing Countries 84
2. External Debt and Resource Transfer as Financing
Components of Capital Flight for a Group of Highly
Indebted Developing Countries, 1979 88 85
v
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| language | English |
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| physical | VII, 94 S. graph. Darst. |
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| series | International Monetary Fund: Occasional paper |
| series2 | International Monetary Fund: Occasional paper |
| spelling | Determinants and systemic consequences of international capital flows a study by the Research Department of the International Monetary Fund Washington, DC 1991 VII, 94 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier International Monetary Fund: Occasional paper 77 Internationale Kapitalbewegung (DE-588)4162044-6 gnd rswk-swf (DE-588)4143413-4 Aufsatzsammlung gnd-content Internationale Kapitalbewegung (DE-588)4162044-6 s DE-604 Internationaler Währungsfonds Research Department Sonstige (DE-588)46026-6 oth International Monetary Fund: Occasional paper 77 (DE-604)BV002597241 77 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=002845947&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Determinants and systemic consequences of international capital flows a study by the Research Department of the International Monetary Fund International Monetary Fund: Occasional paper Internationale Kapitalbewegung (DE-588)4162044-6 gnd |
| subject_GND | (DE-588)4162044-6 (DE-588)4143413-4 |
| title | Determinants and systemic consequences of international capital flows a study by the Research Department of the International Monetary Fund |
| title_auth | Determinants and systemic consequences of international capital flows a study by the Research Department of the International Monetary Fund |
| title_exact_search | Determinants and systemic consequences of international capital flows a study by the Research Department of the International Monetary Fund |
| title_full | Determinants and systemic consequences of international capital flows a study by the Research Department of the International Monetary Fund |
| title_fullStr | Determinants and systemic consequences of international capital flows a study by the Research Department of the International Monetary Fund |
| title_full_unstemmed | Determinants and systemic consequences of international capital flows a study by the Research Department of the International Monetary Fund |
| title_short | Determinants and systemic consequences of international capital flows |
| title_sort | determinants and systemic consequences of international capital flows a study by the research department of the international monetary fund |
| title_sub | a study by the Research Department of the International Monetary Fund |
| topic | Internationale Kapitalbewegung (DE-588)4162044-6 gnd |
| topic_facet | Internationale Kapitalbewegung Aufsatzsammlung |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=002845947&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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