Portfolio Inflows and Real Effective Exchange Rates :: does the sectorization matter? /

It has been well-established in the literature that portfolio inflows appreciate the real effective exchange rate. However, the literature lacks a systematic empirical analysis of the impact of portfolio inflows by institutional sector or borrower type. This paper fills this gap by exploring the imp...

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1. Verfasser: Ouedraogo, Rasmane (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Washington, D.C. : International Monetary Fund, 2017.
Schriftenreihe:IMF working paper ; WP/17/121.
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Zusammenfassung:It has been well-established in the literature that portfolio inflows appreciate the real effective exchange rate. However, the literature lacks a systematic empirical analysis of the impact of portfolio inflows by institutional sector or borrower type. This paper fills this gap by exploring the impact of the inflows of portfolio capital into three institutional sectors (government, banks and corporates) on the real effective exchange rate. Using a large sample of 73 countries, it shows that the effect of portfolio inflows on the real effective exchange rate depends on the sector the investment flows in. The findings are robust to different econometric methods, additional variables in the model, and various indicators of real effective exchange rates.
Beschreibung:1 online resource (33)
ISBN:148430134X
9781484301340
1484301137
9781484301135
ISSN:1018-5941 ;

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