Capital Flows are Fickle: Anytime, Anywhere
Has the unprecedented financial globalization of recent years changed the behavior of capital flows across countries? Using a newly constructed database of gross and net capital flows since 1980 for a sample of nearly 150 countries, this paper finds that private capital flows are typically volatile...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2013
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| Schriftenreihe: | IMF Working Papers
Working Paper No. 13/183 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | Has the unprecedented financial globalization of recent years changed the behavior of capital flows across countries? Using a newly constructed database of gross and net capital flows since 1980 for a sample of nearly 150 countries, this paper finds that private capital flows are typically volatile for all countries, advanced or emerging, across all points in time. This holds true across most types of flows, including bank, portfolio debt, and equity flows. Advanced economies enjoy a greater substitutability between types of inflows, and complementarity between gross inflows and outflows, than do emerging markets, which reduces the volatility of their total net inflows despite higher volatility of the components. Capital flows also exhibit low persistence, across all economies and across most types of flows. Inflows tend to rise temporarily when global financing conditions are relatively easy. These findings suggest that fickle capital flows are an unavoidable fact of life to which policymakers across all countries need to continue to manage and adapt |
| Beschreibung: | 1 Online-Ressource (37 p) |
| ISBN: | 1484389042 9781484389041 |
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| index_date | 2024-07-03T20:13:14Z |
| indexdate | 2024-07-10T09:35:22Z |
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| series2 | IMF Working Papers |
| spelling | Bluedorn, John Verfasser aut Capital Flows are Fickle Anytime, Anywhere Bluedorn, John Washington, D.C International Monetary Fund 2013 1 Online-Ressource (37 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 13/183 Has the unprecedented financial globalization of recent years changed the behavior of capital flows across countries? Using a newly constructed database of gross and net capital flows since 1980 for a sample of nearly 150 countries, this paper finds that private capital flows are typically volatile for all countries, advanced or emerging, across all points in time. This holds true across most types of flows, including bank, portfolio debt, and equity flows. Advanced economies enjoy a greater substitutability between types of inflows, and complementarity between gross inflows and outflows, than do emerging markets, which reduces the volatility of their total net inflows despite higher volatility of the components. Capital flows also exhibit low persistence, across all economies and across most types of flows. Inflows tend to rise temporarily when global financing conditions are relatively easy. These findings suggest that fickle capital flows are an unavoidable fact of life to which policymakers across all countries need to continue to manage and adapt Online-Ausg Duttagupta, Rupa Sonstige oth Guajardo, Jaime Sonstige oth Topalova, Petia Sonstige oth http://elibrary.imf.org/view/IMF001/20759-9781484389041/20759-9781484389041/20759-9781484389041.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Bluedorn, John Capital Flows are Fickle Anytime, Anywhere |
| title | Capital Flows are Fickle Anytime, Anywhere |
| title_auth | Capital Flows are Fickle Anytime, Anywhere |
| title_exact_search | Capital Flows are Fickle Anytime, Anywhere |
| title_exact_search_txtP | Capital Flows are Fickle Anytime, Anywhere |
| title_full | Capital Flows are Fickle Anytime, Anywhere Bluedorn, John |
| title_fullStr | Capital Flows are Fickle Anytime, Anywhere Bluedorn, John |
| title_full_unstemmed | Capital Flows are Fickle Anytime, Anywhere Bluedorn, John |
| title_short | Capital Flows are Fickle |
| title_sort | capital flows are fickle anytime anywhere |
| title_sub | Anytime, Anywhere |
| url | http://elibrary.imf.org/view/IMF001/20759-9781484389041/20759-9781484389041/20759-9781484389041.xml |
| work_keys_str_mv | AT bluedornjohn capitalflowsarefickleanytimeanywhere AT duttaguptarupa capitalflowsarefickleanytimeanywhere AT guajardojaime capitalflowsarefickleanytimeanywhere AT topalovapetia capitalflowsarefickleanytimeanywhere |