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Push Factors and Capital Flows to Emerging Markets

Push Factors and Capital Flows to Emerging Markets »

Source: Push Factors and Capital Flows to Emerging Markets : Why Knowing Your Lender Matters More Than Fundamentals

Volume/Issue: 2015/127

Series: IMF Working Papers

Author(s): Eugenio Cerutti , Stijn Claessens , and Damien Puy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 June 2015

ISBN: 9781513526638

Keywords: Push factors, global banks, markets, portfolio, Financial Aspects of Economic Integration, Portfolio Choice,

This paper analyzes the behavior of gross capital inflows across 34 emerging markets (EMs). We first confirm that aggregate inflows to EMs co-move considerably. We then report three findings: (i) the aggregate co-m...

Capital Flow Reversals, the Exchange Rate Debate, and Dollarization

Capital Flow Reversals, the Exchange Rate Debate, and Dollarization »

Source: Finance & Development, September 1999

Volume/Issue: 36/3

Series: Finance & Development

Author(s): International Monetary Fund. External Relations Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1999

ISBN: 9781451952292

Keywords: capital flows, international financial, capital mobility, private capital flows, international financial architecture

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly...

Current Account Developments in New Member States of the European Union

Current Account Developments in New Member States of the European Union »

Source: Current Account Developments in New Member States of the European Union : Equilibrium, Excess, and EU-Phoria

Volume/Issue: 2008/92

Series: IMF Working Papers

Author(s): Jesmin Rahman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2008

ISBN: 9781451869538

Keywords: Current account norm, macroeconomic balance approach, fdi, investment climate, transition economies, exchange rate regime

This paper analyzes current account (CA) developments in the following 10 new EU members states: Czech Republic, Bulgaria, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia. During the las...

Sectoral Composition of Foreign Direct Investment and External Vulnerability in Eastern Europe

Sectoral Composition of Foreign Direct Investment and External Vulnerability in Eastern Europe »

Source: Sectoral Composition of Foreign Direct Investment and External Vulnerability in Eastern Europe

Volume/Issue: 2011/123

Series: IMF Working Papers

Author(s): Yuko Kinoshita

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2011

ISBN: 9781455263400

Keywords: Central Eastern Europe, Southeastern Europe, external vulnerability, fdi, investment, direct investment, Country and Industry Studies of Trade, Economywide Country Studies: Europe,

In the run up to the global crisis, countries in Central Eastern and Southeastern Europe attracted large capital inflows and some of them built up large external imbalances. This paper investigates whether these im...

Why Do Countries Use Capital Controls?

Why Do Countries Use Capital Controls? »

Source: Why Do Countries Use Capital Controls?

Volume/Issue: 1998/181

Series: IMF Working Papers

Author(s): Natalia Tamirisa , and R. Johnston

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1998

ISBN: 9781451859164

Keywords: capital controls, development, capital movements, capital market, capital inflows, money market

Recourse to controls on capital flows among developing economies is generally quite pervasive. This paper examines the structure and determinants of capital controls based on a cross-sectional study of developing a...

Capital Inflows and the Real Exchange Rate

Capital Inflows and the Real Exchange Rate »

Source: Capital Inflows and the Real Exchange Rate : Can Financial Development Cure the Dutch Disease?

Volume/Issue: 2009/20

Series: IMF Working Papers

Author(s): Christian Saborowski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2009

ISBN: 9781451871678

Keywords: Financial Market Development, Real Exchange Rate, Dynamic Panel Data Models, exchange rate, stock market,

This paper argues that, in improving the efficient allocation of resources, financial sector development could dampen the appreciation effect of capital inflows. Using dynamic panel data techniques, the paper finds...

Exchange Rate Flexibility and Credit during Capital Inflow Reversals

Exchange Rate Flexibility and Credit during Capital Inflow Reversals »

Source: Exchange Rate Flexibility and Credit during Capital Inflow Reversals : Purgatory…not Paradise

Volume/Issue: 2014/61

Series: IMF Working Papers

Author(s): Nicolas Magud , and Esteban Vesperoni

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 April 2014

ISBN: 9781475543735

Keywords: reversals, macro-prudential, exchange rate, exchange rate regimes, exchange rate flexibility, flexible exchange rate, exchange rate regime, Open Economy Macroeconomics,

We document the behavior of macro and credit variables during episodes of capital inflows reversals in economies with different degrees of exchange rate flexibility. We find that exchange rate flexibility is associ...

Coincident Indicators of Capital Flows1

Coincident Indicators of Capital Flows1 »

Source: Coincident Indicators of Capital Flows

Volume/Issue: 2012/55

Series: IMF Working Papers

Author(s): Malika Pant , and Yanliang Miao

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2012

ISBN: 9781463937737

Keywords: Coincident Indicators, Capital Tracker, net capital flows, net capital, capital inflows, International Finance Forecasting and Simulation,

Capital flows data from Balance of Payments statistics often lag 3-6 months, which renders timely surveillance and policy deliberation difficult. To address the tension, we propose two coincident composite indicato...

Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?

Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks? »

Source: Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?

Volume/Issue: 2015/159

Series: IMF Working Papers

Author(s): Olivier Blanchard , Gustavo Adler , and Irineu de Carvalho Filho

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2015

ISBN: 9781513585840

Keywords: exchange rate, gross capital flows, exchange, market, General,

Many emerging market economies have relied on foreign exchange intervention (FXI) in response to gross capital inflows. In this paper, we study whether FXI has been an effective tool to dampen the effects of these...

Effectiveness of Capital Outflow Restrictions

Effectiveness of Capital Outflow Restrictions »

Source: Effectiveness of Capital Outflow Restrictions

Volume/Issue: 2014/8

Series: IMF Working Papers

Author(s): Christian Saborowski , Sarah Sanya , Hans Weisfeld , and Juan Yepez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 January 2014

ISBN: 9781484379752

Keywords: Emerging economies, capital outflow, capital flow, net capital, General, Globalization: Finance,

This paper examines the effectiveness of capital outflow restrictions in a sample of 37 emerging market economies during the period 1995-2010, using a panel vector autoregression approach with interaction terms. Sp...