Download or read book Gross Private Capital Flows to Emerging Markets written by Erlend Nier and published by International Monetary Fund. This book was released on 2014-10-27 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses empirically the key drivers of private capital flows to a large sample of emerging market economies in the last decade. It analyzes the effect of the global financial cycle, measured by the VIX, on capital flows and investigates the role of fundamentals and country characteristics in mitigating or amplifying its effect. Using interaction models, we find the effect of the VIX to be non-linear. For low levels of the VIX, capital flows are driven by fundamental factors. During periods of stress, the VIX becomes the dominant driver of capital flows while other determinants, with the exception of interest rate differentials, lose statistical significance. Our results also suggest that the effect of global financial conditions on gross private capital flows increases with the host country’s level of financial sector development. Finally, our results imply that countries cannot fully insulate themselves from global financial shocks, unless creating a fragmented global financial system.

Download or read book Growth and Development in Emerging Market Economies written by Harinder S Kohli and published by SAGE Publications Pvt. Limited. This book was released on 2008-05-09 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: This compilation helps understand the basic forces that are now determining the performance and prospects of emerging market economies (EMEs) around the world. In the past few years, there has been a sharp rise in private capital flows to well performing developing countries, commonly referred to as EMEs. With a drop in net transfers from official sources, the private capital flows in these countries now dwarf official flows. Growth and Development in Emerging Market Economies: International Private Capital Flows, Financial Markets and Globalization encapsulates in one volume the understanding of the inter-related topics of global imbalances, finance, investment, trade, and infrastructure. Such assemblage is difficult to find in the existing literature in this field. Many chapters discuss the situations in Asia and Latin America, drawing parallels and pointing out contrasts. The papers in this collection were discussed at the Emerging Markets Forum meeting held in Jakarta, Indonesia in September 2006. The contributors include highly experienced former policy makers and senior officials of multilateral institutions who have lifelong experience in policy formulation at the highest level. The collection would be of value to policy makers in developing countries, officials of multilateral development institutions and researchers and academicians in the field of EMEs.

Download or read book Revisiting the Determinants of Capital Flows to Emerging Markets A Survey of the Evolving Literature written by Swarnali Ahmed Hannan and published by International Monetary Fund. This book was released on 2018-09-28 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper documents the evolution of gross and net capital flows to emerging market economies and surveys the large literature on the potential drivers. While the capital flow landscape has been shaped by the evolution of both global and country-specific factors, the relative importance of these factors has varied over time and differs depending on the type of capital flows. The findings from the survey of the literature thus underscores the importance of policies in both source and recipient countries in shaping capital flows.

Download or read book Capital Flows are Fickle written by Mr.John C Bluedorn and published by International Monetary Fund. This book was released on 2013-08-22 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Has the unprecedented financial globalization of recent years changed the behavior of capital flows across countries? Using a newly constructed database of gross and net capital flows since 1980 for a sample of nearly 150 countries, this paper finds that private capital flows are typically volatile for all countries, advanced or emerging, across all points in time. This holds true across most types of flows, including bank, portfolio debt, and equity flows. Advanced economies enjoy a greater substitutability between types of inflows, and complementarity between gross inflows and outflows, than do emerging markets, which reduces the volatility of their total net inflows despite higher volatility of the components. Capital flows also exhibit low persistence, across all economies and across most types of flows. Inflows tend to rise temporarily when global financing conditions are relatively easy. These findings suggest that fickle capital flows are an unavoidable fact of life to which policymakers across all countries need to continue to manage and adapt.

Download or read book The composition of private capital flows to emerging market economies written by Michael W. Sket and published by . This book was released on 2008 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Push Factors and Capital Flows to Emerging Markets written by Mr.Eugenio Cerutti and published by International Monetary Fund. This book was released on 2015-06-22 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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-movement conceals significant heterogeneity across asset types as only bank-related and portfolio bond and equity inflows do co-move; (ii) while global push factors in advanced economies mostly explain the common dynamics, their relative importance varies by type of flow; and (iii) the sensitivity to common dynamics varies significantly across borrower countries, with market structure characteristics (especially the composition of the foreign investor base and the level of liquidity) rather than borrower country’s institutional fundamentals strongly affecting sensitivities. Countries relying more on international funds and global banks are found to be more sensitive to push factors. Our findings suggest that EMs need to closely monitor their lenders and investors to assess their inflow exposures to global push factors.

Download or read book Private Capital Flows to Emerging Markets After the Mexican Crisis written by Guillermo Calvo and published by Peterson Institute. This book was released on 1996 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Boom bust recovery what next in private capital flows to emerging markets written by Peter Nunnenkamp and published by . This book was released on 2000 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Growth and Development in Emerging Market Economies written by Harinder S. Kohli and published by . This book was released on 2008 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: Papers presented at the Global Meeting of the Emerging Markets Forum, held at Jakarta in September 2006.

Download or read book The Drivers of Capital Flows in Emerging Markets Post Global Financial Crisis written by Swarnali Ahmed Hannan and published by International Monetary Fund. This book was released on 2017-03-10 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a sample of 34 emerging markets and developing economies over the period 2009Q3-2015Q4, the paper employs a panel framework to study the determinants of capital flows, both net and gross, across a wide range of instruments. The baseline regressions are then extended to focus on high and low episodes – quarters with flows one standard deviation above/below mean. Overall, the results suggest that the capital flow slowdown witnessed in recent years is due to a combination of lower growth prospects of recipient countries and worse global risk sentiment. However, the determinants of flows can be considerably different across instruments and across the type of flows considered, net or gross. The sensitivity of certain types of flows, towards push and pull factors, increases during periods of high and low capital flows. Moreover, some variables may not necessarily be significant during normal times, but can be important drivers during such episodes, and vice versa. Indicators like the gap between the U.S. long- and short-term maturity bond yields – not significant during normal times – can be an important driver during high episodes.

Download or read book Growth and Development in Emerging Market Economies written by Harinder S. Kohli and published by . This book was released on 2008 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses senior policy makers interested in understanding & debating key issues currently faced by the better performing emerging markets throughout the world. Papers in the volume address international capital flows, financial markets, globalization & private participation in infrastructure development

Download or read book Private Capital Flows and Financial Crises in Emerging Markets written by Sona Shrestha and published by . This book was released on 1999 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three empirical chapters that address different aspects of private capital flows and financial crises in Asian and Latin American emerging markets.

Download or read book Private Capital Flows to Developing Countries written by and published by World Bank Publications. This book was released on 1997 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes the process of international financial integration and the structural forces driving private capital to developing countries. Against this background, it details the potential benefits of integration and the implications of fast-moving global capital flows for emerging economics. Examining the experience of countries that have attracted substantial private capital flows, the book provides invaluable guidance as to what works and what doesn't during the transition to financial integration. It will be of compelling interest to policymakers and also to international investors and bankers, financial analysts, and researchers.

Download or read book Policy Responses to Capital Flows in Emerging Markets written by Mahmood Pradhan and published by International Monetary Fund. This book was released on 2011-04-20 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.

Download or read book Capital Flows at Risk Taming the Ebbs and Flows written by Mr.R. G Gelos and published by International Monetary Fund. This book was released on 2019-12-20 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The volatility of capital flows to emerging markets continues to pose challenges to policymakers. In this paper, we propose a new framework to answer critical policy questions: What policies and policy frameworks are most effective in dampening sharp capital flow movements in response to global shocks? What are the near- versus medium-term trade-offs of different policies? We tackle these questions using a quantile regression framework to predict the entire future probability distribution of capital flows to emerging markets, based on current domestic structural characteristics, policies, and global financial conditions. This new approach allows policymakers to quantify capital flows risks and evaluate policy tools to mitigate them, thus building the foundation of a risk management framework for capital flows.

Download or read book Private Capital Flows in Emerging Markets Ofter the Mexican Crisis written by Guillermo A. Calvo and published by . This book was released on 1996 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Private Capital Flows to Emerging Market written by Stefanie Boerst and published by . This book was released on 2002 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: