Long-Term Capital Movements:
International financial integration allows countries to become net creditors or net debtors with respect to the rest of the world. In this paper, we show that a small set of fundamentals-shifts in relative output levels, the stock of public debt and demographic factors-can do much to explain the evo...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2001
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 01/107 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | International financial integration allows countries to become net creditors or net debtors with respect to the rest of the world. In this paper, we show that a small set of fundamentals-shifts in relative output levels, the stock of public debt and demographic factors-can do much to explain the evolution of net foreign asset positions. In addition, we highlight the role that ""external wealth"" plays in determining the behaviour of the trade balance, and we provide some evidence that a portfolio balance effect exists: real interest rate differentials are inversely related to net foreign asset positions |
| Beschreibung: | 1 Online-Ressource (49 p) |
| ISBN: | 1451852983 9781451852981 |
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| spelling | Lane, Philip R. Verfasser aut Long-Term Capital Movements Lane, Philip R Washington, D.C International Monetary Fund 2001 1 Online-Ressource (49 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 01/107 International financial integration allows countries to become net creditors or net debtors with respect to the rest of the world. In this paper, we show that a small set of fundamentals-shifts in relative output levels, the stock of public debt and demographic factors-can do much to explain the evolution of net foreign asset positions. In addition, we highlight the role that ""external wealth"" plays in determining the behaviour of the trade balance, and we provide some evidence that a portfolio balance effect exists: real interest rate differentials are inversely related to net foreign asset positions Online-Ausg Milesi-Ferretti, Gian-Maria Sonstige oth http://elibrary.imf.org/view/IMF001/04334-9781451852981/04334-9781451852981/04334-9781451852981.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Lane, Philip R. Long-Term Capital Movements |
| title | Long-Term Capital Movements |
| title_auth | Long-Term Capital Movements |
| title_exact_search | Long-Term Capital Movements |
| title_exact_search_txtP | Long-Term Capital Movements |
| title_full | Long-Term Capital Movements Lane, Philip R |
| title_fullStr | Long-Term Capital Movements Lane, Philip R |
| title_full_unstemmed | Long-Term Capital Movements Lane, Philip R |
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