The Recent Surge in Private Capital Flows to Developing Countries
Author | : Guillermo de la Dehesa (Banquier) |
Publisher | : |
Total Pages | : 42 |
Release | : 1994 |
Genre | : |
ISBN | : |
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Author | : Guillermo de la Dehesa (Banquier) |
Publisher | : |
Total Pages | : 42 |
Release | : 1994 |
Genre | : |
ISBN | : |
Author | : Guillermo de la Dehesa |
Publisher | : |
Total Pages | : 52 |
Release | : 1994 |
Genre | : Capital movements |
ISBN | : |
Author | : Leonardo Hernández |
Publisher | : World Bank Publications |
Total Pages | : 44 |
Release | : 1995 |
Genre | : Capital movements |
ISBN | : |
Author | : |
Publisher | : World Bank Publications |
Total Pages | : 432 |
Release | : 1997 |
Genre | : Business & Economics |
ISBN | : 9780195211160 |
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.
Author | : Dipak Das Gupta |
Publisher | : World Bank Publications |
Total Pages | : 28 |
Release | : 2000 |
Genre | : Capital movements |
ISBN | : |
Private portfolio flows to a country tend to rise in response to an increase in the current account deficit, a rise in foreign direct investment flows, higher per capita income, and growth performance. The most important determinant of official lending to a developing country seems to be the external current account balance or a change in international reserves in the country.
Author | : Leonardo Hernández |
Publisher | : |
Total Pages | : 0 |
Release | : 2005 |
Genre | : |
ISBN | : |
Since 1989, private capital flows to a select group of developing countries have increased sharply, but developments in 1994 have caused concern about the sustainability of those flows. Several highly indebted developing countries that are implementing reform are concerned that a generalized reversal - similar to episodes of capital flight in the early 1980s - might disrupt their economies and threaten economic reform. Because the surge in private capital flows coincided with a period of low international interest rates and intensive policy reform in developing countries, debate has been active about whether the surge is driven mainly by domestic (pull) or external (push) factors. Under the pull hypothesis, successful domestic policies are the key to ensuring sustainable capital inflows; under the push hypothesis, an increase in international interest rates would cause a reversal of those flows (back to the industrial world). Using a partial adjustment model in which both domestic and external variables are defined, the authors explain why private capital flows to some developing countries but not to others (using panel data for 1986-93 for 22 countries). They argue that a generalized reversal is unlikely in countries that maintain a fundamentally sound macroeconomic environment. In fact, their empirical results show that domestic factors such as domestic savings and investment ratios significantly affected the recent surge in capital inflows. Further, they suggest that countries that have not received significant foreign capital - including countries in sub-Saharan Africa - could begin to if they implemented structural reforms that allow them to export, save, and invest at higher rates. Reducing their foreign debt (which might call for a continuation of recent debt reduction operations) could also help attract foreign private investors.
Author | : Alexander Fleming |
Publisher | : |
Total Pages | : 58 |
Release | : 1981 |
Genre | : Balance of payments |
ISBN | : |
Author | : World Bank |
Publisher | : World Bank Publications |
Total Pages | : 702 |
Release | : 2006-01-01 |
Genre | : Banks and Banking Reform |
ISBN | : 0821366238 |
"International private capital flows to developing countries reached a record net level of $491 billion in 2005. This surge in private capital flows offers national and international policy makers a major opportunity to bolster development efforts if they can successfully meet three challenges. The first is to ensure that more countries, especially poorer ones, enhance their access to developmentally beneficial international capital through improvements in their macroeconomic performance, investment climate, and use of aid. The second is to avoid sudden capital flow reversals by redressing global imbalances through policies that recognize the growing interdependencies between developed and developing countries' financial and exchange rate relations in the determination of global financial liquidity and asset price movements. And the third is to ensure that development finance, both official and private, is managed judiciously to meet the development goals of recipient countries while promoting greater engagement with global financial markets. These are the themes and concerns of this year's edition of Global Development Finance. Vol I. Anlaysis and Statistical Appendix reviews recent trends in financial flows to developing countries. Vol II. Summary and Country Tables* includes comprehensive data for 138 countries, as well as summary data for regions and income groups."
Author | : Eduardo Fernandez-Arias |
Publisher | : World Bank Publications |
Total Pages | : 48 |
Release | : 1994 |
Genre | : Capital movements |
ISBN | : |