Capital Inflows Financial Development And Domestic Investment

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Capital Inflows, Financial Development, and Domestic Investment

Author : Ms.Oana Luca
Publisher : International Monetary Fund
ISBN 13 : 1475518862
Total Pages : 37 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Capital Inflows, Financial Development, and Domestic Investment by : Ms.Oana Luca

Download or read book Capital Inflows, Financial Development, and Domestic Investment written by Ms.Oana Luca and published by International Monetary Fund. This book was released on 2012-05-01 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine determinants of, and interactions between, capital inflows, financial development, and domestic investment in developing countries during 2001-07, a period of surging global liquidity and low interest rates. Reductions in the global price of risk and in domestic borrowing costs were the main contributors to the increase over time in net capital inflows and domestic credit. However, the large cross-country differences in domestic and international finance are best explained by fundamentals such as institutional quality, access to international export markets, and an appropriate macroeconomic policy. Both private capital inflows and domestic credit exert a positive effect on investment; they also mediate most of the investment impact of the global price of risk and domestic borrowing costs. Surprisingly, neither greater domestic credit nor greater institutional quality increase the extent to which capital inflows translate into domestic investment.

Capital Inflows, Financial Development, and Domestic Investment

Author : Nicola Spatafora
Publisher :
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.:/5 (794 download)

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Book Synopsis Capital Inflows, Financial Development, and Domestic Investment by : Nicola Spatafora

Download or read book Capital Inflows, Financial Development, and Domestic Investment written by Nicola Spatafora and published by . This book was released on 2012-05-01 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine determinants of, and interactions between, capital inflows, financial development, and domestic investment in developing countries during 2001-07, a period of surging global liquidity and low interest rates. Reductions in the global price of risk and in domestic borrowing costs were the main contributors to the increase over time in net capital inflows and domestic credit. However, the large cross-country differences in domestic and international finance are best explained by fundamentals such as institutional quality, access to international export markets, and an appropriate macroeconomic policy. Both private capital inflows and domestic credit exert a positive effect on investment; they also mediate most of the investment impact of the global price of risk and domestic borrowing costs. Surprisingly, neither greater domestic credit nor greater institutional quality increase the extent to which capital inflows translate into domestic investment.

Growing Up with Capital Flows

Author : Ashoka Mody
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Growing Up with Capital Flows by : Ashoka Mody

Download or read book Growing Up with Capital Flows written by Ashoka Mody and published by International Monetary Fund. This book was released on 2002-04 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a sample of 60 developing countries, we find evidence of a strong-almost one-to-one-relationship between capital inflows and domestic investment. However, this relationship has evolved over time. While growing financial integration with the rest of the world has increased access to foreign private capital, the relationship between foreign capital and domestic investment has weakened, reflecting changes in the composition of inflows, offsetting outflows, and increased foreign-currency reserve requirements. In contrast, better policies have not only brought in more capital but also, especially for foreign direct investment, have tended to strengthen the relationship between foreign capital and domestic investment.

Private Capital Flows, Financial Development, and Economic Growth in Developing Countries [electronic Resource]

Author : Bailliu, Jeannine N
Publisher :
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.:/5 (641 download)

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Book Synopsis Private Capital Flows, Financial Development, and Economic Growth in Developing Countries [electronic Resource] by : Bailliu, Jeannine N

Download or read book Private Capital Flows, Financial Development, and Economic Growth in Developing Countries [electronic Resource] written by Bailliu, Jeannine N and published by . This book was released on 2000 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Capital Inflows, Credit Growth, and Financial Systems

Author : Ms.Deniz Igan
Publisher : International Monetary Fund
ISBN 13 : 1513581260
Total Pages : 31 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Capital Inflows, Credit Growth, and Financial Systems by : Ms.Deniz Igan

Download or read book Capital Inflows, Credit Growth, and Financial Systems written by Ms.Deniz Igan and published by International Monetary Fund. This book was released on 2015-08-19 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exploiting a granular panel dataset that breaks down capital inflows into FDI, portfolio and other categories, and distinguishes between credit to the household sector and to the corporate sector, we investigate the association between capital inflows and credit growth. We find that non-FDI capital inflows boost credit growth and increase the likelihood of credit booms in both household and corporate sectors. For household credit growth, the composition of capital inflows appears to be more important than financial system characteristics. In contrast, for corporate credit growth, both the composition and the financial system matter. Regardless of sectors and financial systems, net other inflows are always linked to rapid credit growth. Firm-level data corroborate these findings and hint at a causal link: net other inflows are related to more rapid credit growth for firms that rely more heavily on external financing. Further explorations on how capital flows translate into more credit indicate that both demand and supply side factors play a role.

Capital for the Future

Author : The World Bank
Publisher : World Bank Publications
ISBN 13 : 0821399551
Total Pages : 171 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Capital for the Future by : The World Bank

Download or read book Capital for the Future written by The World Bank and published by World Bank Publications. This book was released on 2013-05-16 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: The gradual acceleration of growth in developing countries is a defining feature of the past two decades. This acceleration came with major shifts in patterns of investment, saving, and capital flows. This second volume in the Global Development Horizons series analyzes these shifts and explores how they may evolve through 2030. Average domestic saving in developing countries stood at 34 percent of their GDP in 2010, up from 24 percent in 1990, while their investment was around 33 percent of their GDP in 2012, up from 26 percent. These trends in saving and investment, along with higher growth rates in developing countries, have resulted in developing countriesâ€™ share of global savings now standing at 46 percent, nearly double the level of the 1990s. The presence of developing countries on the global stage will continue to expand over the next two decades. Analysis in this report projects that by 2030, China will account for 30 percent of global investment activity, far and away the largest share of any single country, while India and Brazil (at 7 percent and 3 percent) will account for shares comparable to those of the United States and Japan (11 percent and 5 percent). The complex interaction among aging, growth, and financial deepening can be expected to result in a world where developing countries will contribute 62 of every 100 dollars of world saving in 2030, up from 45 dollars in 2010, and where they account for between $6.2 trillion and $13 trillion of global gross capital flows, rising from $1.3 trillion in 2010. Trends in investment, saving, and capital flows through 2030 will affect economic conditions from the household level to the global macroeconomic level, with implications not only for national policy makers but also for international institutions and policy coordination. Policymakers preparing for this change will benefit from a better understanding of the unfolding dynamics of global capital and wealth in the future. This book is accompanied by a website, http://www.worldbank.org/CapitalForTheFuture, that includes a host of related electronic resources: data sets underlying the two main scenarios presented in the report, background papers, technical appendixes, interactive widgets with variations to some of the assumptions used in the projections, and related audio and video resources.

Global Capital Flows and Financing Constraints

Author : Ann E. Harrison
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4./5 ( download)

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Book Synopsis Global Capital Flows and Financing Constraints by : Ann E. Harrison

Download or read book Global Capital Flows and Financing Constraints written by Ann E. Harrison and published by World Bank Publications. This book was released on 2002 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Firms often cite financing constraints as one of their primary obstacles to investment. Global capital flows, by bringing in scarce capital, may ease host-country firms' financing constraints. However, if incoming foreign investors borrow heavily from domestic basnks, direct foreign investment (DFI) may exacerbate financing constraints by crowding host country firms out of domestic capital markets. Combininb a unique cross-country firm-level panel with time-series data on restrictions on international transactions and capital flows, we find that different measures of global flows are associated with a reduction in firm-level financing constraints. First, we show that one type of capital inflow--DFI--is associated with a reduction in financing constraints. Second, we test whether restrictions on international transactions affect firms' financing constraints. Our results suggest that only one type of restriction--those on capital account transactions--negatively affect firms' financing constraints. We also show that multinational firms are not financially constrained and do not appear to be sensitive to the level of DFI. This implies that DFI eases financing constraints for non-multinational firms. Finally, we show that DFI only eases financing constraints in the non-G7 countries.

Real Effects of Capital Inflows in Emerging Markets

Author : Ms.Deniz O Igan
Publisher : International Monetary Fund
ISBN 13 : 1475558562
Total Pages : 50 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Real Effects of Capital Inflows in Emerging Markets by : Ms.Deniz O Igan

Download or read book Real Effects of Capital Inflows in Emerging Markets written by Ms.Deniz O Igan and published by International Monetary Fund. This book was released on 2016-12-06 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the association between capital inflows and industry growth in a sample of 22 emerging market economies from 1998 to 2010. We expect more external finance dependent industries in countries that host more capital inflows to grow disproportionately faster. This is indeed the case in the pre-crisis period of 1998–2007, and is driven by debt, rather than equity, inflows. We also observe a reduction in output volatility but this association is more pronounced for equity, rather than debt, inflows. These relationships, however, break down during the crisis, hinting at the importance of an undisrupted global financial system for emerging markets to harness the growth benefits of capital inflows. In line with this observation, we also document that the inflows-growth nexus is stronger in countries with well-functioning banks.

International Capital Flows and Development

Author : Mr.Thierry Tressel
Publisher : International Monetary Fund
ISBN 13 : 145520935X
Total Pages : 46 pages
Book Rating : 4.4/5 (552 download)

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Book Synopsis International Capital Flows and Development by : Mr.Thierry Tressel

Download or read book International Capital Flows and Development written by Mr.Thierry Tressel and published by International Monetary Fund. This book was released on 2010-10-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does capital flow from rich to poor countries? We revisit the Lucas paradox and explore the role of capital account restrictions in shaping capital flows at various stages of economic development. We find that, when accounting for the degree of capital account openness, the prediction of the neoclassical theory is confirmed: less developed countries tend to experience net capital inflows and more developed countries tend to experience net capital outflows, conditional of various countries’ characteristics. The findings are driven by foreign direct investment, portfolio equity investment, and to some extent by loans to the private sector.

Foreign Direct Investment and Economic Growth

Author : Muhammad Arshad Khan
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Foreign Direct Investment and Economic Growth by : Muhammad Arshad Khan

Download or read book Foreign Direct Investment and Economic Growth written by Muhammad Arshad Khan and published by . This book was released on 2007 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Foreign Capital and Economic Growth

Author : Eswar S. Prasad
Publisher :
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Foreign Capital and Economic Growth by : Eswar S. Prasad

Download or read book Foreign Capital and Economic Growth written by Eswar S. Prasad and published by . This book was released on 2007 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: We document the recent phenomenon of "uphill" flows of capital from nonindustrial to industrial countries and analyze whether this pattern of capital flows has hurt growth in nonindustrial economies that export capital. Surprisingly, we find that there is a positive correlation between current account balances and growth among nonindustrial countries, implying that a reduced reliance on foreign capital is associated with higher growth. This result is weaker when we use panel data rather than cross-sectional averages over long periods of time, but in no case do we find any evidence that an increase in foreign capital inflows directly boosts growth. What explains these results, which are contrary to the predictions of conventional theoretical models? We provide some evidence that even successful developing countries have limited absorptive capacity for foreign resources, either because their financial markets are underdeveloped, or because their economies are prone to overvaluation caused by rapid capital inflows.

Outward Foreign Direct Investment and Domestic Investment

Author : Mr.Ali J Al-Sadiq
Publisher : International Monetary Fund
ISBN 13 : 1475517939
Total Pages : 28 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Outward Foreign Direct Investment and Domestic Investment by : Mr.Ali J Al-Sadiq

Download or read book Outward Foreign Direct Investment and Domestic Investment written by Mr.Ali J Al-Sadiq and published by International Monetary Fund. This book was released on 2013-02-26 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, the growth rate of outward foreign direct investment (FDI) from developing and transition economies has increased significantly. Given the role of physical capital accumulation in determining the economic growth rate, it is important to assess how domestic investment responds to such outflows. This study empirically examines the effects of outward FDI on domestic investment in developing countries. Using data from 121 developing and transition economies over the period 1990–2010, the results suggest that FDI outflows negatively impact the rate of domestic investment.

Foreign Direct Investment in a Macroeconomic Framework

Author : Maxwell J. Fry
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4./5 ( download)

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Book Synopsis Foreign Direct Investment in a Macroeconomic Framework by : Maxwell J. Fry

Download or read book Foreign Direct Investment in a Macroeconomic Framework written by Maxwell J. Fry and published by World Bank Publications. This book was released on 1993 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does foreign direct investment affect national saving both directly and indirectly through the rate of economic growth? It depends on which countries you're talking about. Pacific Basin countries appear to differ markedly from some other developing countries.

Development Centre Studies Capital Flows and Investment Performance Lessons from Latin America

Author : French-Davis Ricardo
Publisher : OECD Publishing
ISBN 13 : 926416345X
Total Pages : 241 pages
Book Rating : 4.2/5 (641 download)

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Book Synopsis Development Centre Studies Capital Flows and Investment Performance Lessons from Latin America by : French-Davis Ricardo

Download or read book Development Centre Studies Capital Flows and Investment Performance Lessons from Latin America written by French-Davis Ricardo and published by OECD Publishing. This book was released on 1998-10-09 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, the result of a joint project between the OECD Development Centre and the UN Economic Commission for Latin America and the Caribbean (ECLAC), examines the policies of a group of major Latin American countries faced with large inflows.

Capital Flows, Saving, and Investment in the World Economy

Author : Showkat Ali
Publisher : Taylor & Francis
ISBN 13 : 9780815330738
Total Pages : 200 pages
Book Rating : 4.3/5 (37 download)

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Book Synopsis Capital Flows, Saving, and Investment in the World Economy by : Showkat Ali

Download or read book Capital Flows, Saving, and Investment in the World Economy written by Showkat Ali and published by Taylor & Francis. This book was released on 1998 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the major macroeconomic determinants and the structural relationships of current account variability, capital flows, saving and investment in open economies that are linked to the international financial markets. It explores the appropriateness of domestic policy responses (such as money stock growth, government spending, openness criteria, GDP growth) and the size of population or the impact of external shocks (such as exchange rate variability and the terms of trade uncertainty) for determining the domestic saving-investment comovement and capital flows worldwide. This analysis finds that even high positive correlations between national saving and investment rates could naturally arise within a perfect capital mobility framework where domestic policy variability and external shocks are likely to play a significant role for capital inflow.

Capital Flows to South Asian and ASEAN Countries

Author : Ishrat Husain
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 55 pages
Book Rating : 4./5 ( download)

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Book Synopsis Capital Flows to South Asian and ASEAN Countries by : Ishrat Husain

Download or read book Capital Flows to South Asian and ASEAN Countries written by Ishrat Husain and published by World Bank Publications. This book was released on 1992 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foreign direct investment has been more influential than other types of resource flows in shaping economic growth in ASEAN countries. South Asian policymakers can also facilitate the infusion of foreign direct investment flows if they pursue policies and nondistortionary incentive systems similar to those of ASEAN countries.

Capital Flows and Foreign Direct Investments in Emerging Markets

Author : S. Motamen-Samadian
Publisher : Springer
ISBN 13 : 0230597963
Total Pages : 194 pages
Book Rating : 4.2/5 (35 download)

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Book Synopsis Capital Flows and Foreign Direct Investments in Emerging Markets by : S. Motamen-Samadian

Download or read book Capital Flows and Foreign Direct Investments in Emerging Markets written by S. Motamen-Samadian and published by Springer. This book was released on 2005-09-20 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the latest findings on the impact of capital flows and foreign direct investments (FDI) on macroeconomic variables and financial development of emerging markets. Each chapter concentrates on a different region and explores the significance of specific factors that can attract FDI to that region. They highlight the importance of political stability, as well as social and economic freedom in attracting FDIs. The studies also show the extent by which African and Middle Eastern countries have lagged behind other emerging markets and the need for urgent adjustment policies.