The Role of Risk and Information for International Capital Flows: New Evidence from the SDDS
In this paper we investigate whether better information about the macroeconomic environment of an economy has a positive impact on its capital inflows, namely portfolio and foreign direct investment (FDI). The purpose of our study is to explicitly quantify information asymmetries by compliance with...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2012
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Schriftenreihe: | IMF Working Papers
Working Paper No. 12/242 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | In this paper we investigate whether better information about the macroeconomic environment of an economy has a positive impact on its capital inflows, namely portfolio and foreign direct investment (FDI). The purpose of our study is to explicitly quantify information asymmetries by compliance with the IMF's Special Data Dissemination Standard (SDDS). For FDI, we find statistically significant and robust support for this hypothesis: SDDS subscription increased inflows by an economically relevant magnitude of about 60 percent. We also find evidence of aversion against political and macroeconomic risk as determinants of portfolio and FDI flows anduse a non-parametric test for spatial correlation in the residual of capital flows |
Beschreibung: | 1 Online-Ressource (44 p) |
ISBN: | 1475568665 9781475568660 |
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spelling | Hashimoto, Yuko Verfasser aut The Role of Risk and Information for International Capital Flows New Evidence from the SDDS Hashimoto, Yuko Washington, D.C International Monetary Fund 2012 1 Online-Ressource (44 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 12/242 In this paper we investigate whether better information about the macroeconomic environment of an economy has a positive impact on its capital inflows, namely portfolio and foreign direct investment (FDI). The purpose of our study is to explicitly quantify information asymmetries by compliance with the IMF's Special Data Dissemination Standard (SDDS). For FDI, we find statistically significant and robust support for this hypothesis: SDDS subscription increased inflows by an economically relevant magnitude of about 60 percent. We also find evidence of aversion against political and macroeconomic risk as determinants of portfolio and FDI flows anduse a non-parametric test for spatial correlation in the residual of capital flows Online-Ausg Wacker, Konstantin Sonstige oth http://elibrary.imf.org/view/IMF001/20038-9781475568660/20038-9781475568660/20038-9781475568660.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Hashimoto, Yuko The Role of Risk and Information for International Capital Flows New Evidence from the SDDS |
title | The Role of Risk and Information for International Capital Flows New Evidence from the SDDS |
title_auth | The Role of Risk and Information for International Capital Flows New Evidence from the SDDS |
title_exact_search | The Role of Risk and Information for International Capital Flows New Evidence from the SDDS |
title_exact_search_txtP | The Role of Risk and Information for International Capital Flows New Evidence from the SDDS |
title_full | The Role of Risk and Information for International Capital Flows New Evidence from the SDDS Hashimoto, Yuko |
title_fullStr | The Role of Risk and Information for International Capital Flows New Evidence from the SDDS Hashimoto, Yuko |
title_full_unstemmed | The Role of Risk and Information for International Capital Flows New Evidence from the SDDS Hashimoto, Yuko |
title_short | The Role of Risk and Information for International Capital Flows |
title_sort | the role of risk and information for international capital flows new evidence from the sdds |
title_sub | New Evidence from the SDDS |
url | http://elibrary.imf.org/view/IMF001/20038-9781475568660/20038-9781475568660/20038-9781475568660.xml |
work_keys_str_mv | AT hashimotoyuko theroleofriskandinformationforinternationalcapitalflowsnewevidencefromthesdds AT wackerkonstantin theroleofriskandinformationforinternationalcapitalflowsnewevidencefromthesdds |