Broto, Carmen, Díaz-Cassou, Javier and Erce, Aitor (2011) Measuring and explaining the volatility of capital flows to emerging countries. Journal of Banking and Finance, 35 (8). pp. 1941-1953. ISSN 0378-4266
Full text not available from this repository.Abstract
This paper analyzes the determinants of the volatility of the various types of capital inflows into emerging countries. After calculating a proxy of the volatility of FDI, portfolio and bank inflows, we use a panel data model to study their relationship with a broad set of explanatory variables. Our results highlight the difficulties policy-makers face in stabilizing capital flows. Thus, we show that since 2000 global factors beyond the control of emerging economies have become increasingly significant relative to country-specific drivers. However, we identify some domestic macroeconomic and financial factors that appear to reduce the volatility of certain capital flows without increasing that of others.
| Item Type: | Article |
|---|---|
| Official URL: | http://www.elsevier.com/wps/find/journaldescriptio... |
| Additional Information: | © 2011 Elsevier |
| Divisions: | International Development |
| Subjects: | H Social Sciences > HB Economic Theory |
| JEL classification: | C - Mathematical and Quantitative Methods > C2 - Econometric Methods: Single Equation Models; Single Variables > C22 - Time-Series Models C - Mathematical and Quantitative Methods > C2 - Econometric Methods: Single Equation Models; Single Variables > C23 - Models with Panel Data F - International Economics > F2 - International Factor Movements and International Business > F21 - International Investment; Long-Term Capital Movements F - International Economics > F3 - International Finance > F36 - Financial Aspects of Economic Integration |
| Date Deposited: | 27 Jun 2011 10:36 |
| Last Modified: | 19 Nov 2024 21:15 |
| URI: | http://eprints.lse.ac.uk/id/eprint/36885 |
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