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THE EXTERNAL WEALTH OF NATIONS: Measures of Foreign Assets and Liabilities For Industrial and Developing Countries Author info | Abstract | Publisher info | Download info | Related research | Statistics Philip Lane
Gian Maria Milesi-Ferretti
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Although capital flows are closely monitored, surprisingly little is known about the accumulated stocks of foreign assets and liabilities held by various countries, especially in the developing world. This paper constructs estimates of foreign assets and liabilities and their equity and debt subcomponents for a sample of 67 industrial and developing countries. It characterizes the stylized facts of international balance sheets and asks whether there are trends in net foreign asset positions and shifts in debt-equity ratios over time. Finally, it explores the sensitivity of estimated stock positions to the treatment of valuation effects not captured in balance of payments data.
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Paper provided by Trinity College Dublin, Department of Economics in its series CEG Working Papers with number
20012.
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Date of creation: 2001Date of revision:
Handle: RePEc:tcd:tcdceg:20012Contact details of provider: Postal: Trinity College, Dublin 2 Phone: (+ 353 1) 6081325 Fax: 6772503 Web page: http://www.tcd.ie/Economics/ More information through EDIRC
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Article Paper Gian Maria Milesi-Ferretti & Philip R. Lane, 1999.
"The External Wealth of Nations - Measures of Foreign Assets and Liabilities for Industrial and Developing Countries ,"
IMF Working Papers
99/115, International Monetary Fund.
Lane, Philip R. & Milesi-Ferretti, Gian Maria, 1999.
"The External Wealth of Nations: Measures of Foreign Assets and Liabilities for Industrial and Developing Countries ,"
CEPR Discussion Papers
2231, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Philip Lane & Gian Maria Milesi-Ferretti, 2001.
"THE EXTERNAL WEALTH OF NATIONS: Measures of Foreign Assets and Liabilities For Industrial and Developing Countries ,"
Trinity Economics Papers
20014, Trinity College Dublin, Department of Economics.
[Downloadable!] Find related papers by JEL classification: F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements F34 - International Economics - - International Finance - - - International Lending and Debt Problems
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