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Determinants and Systemic Consequences of International Capital Flows

Author

Listed:
  • Mr. D. F. I. Folkerts-Landau
  • Mr. Donald J Mathieson
  • Mr. Morris Goldstein
  • Ms. Liliana Rojas-Suárez
  • Mr. José Saúl Lizondo
  • Mr. Timothy D. Lane

Abstract

The growing integration of capital markets has strengthened incentives for greater international coordination of economic and financial policies. Structural changes in these financial market, however, may have undermined the effectiveness of monetary and fiscal policy and complicated market access by developing countries. These are among the findings of this study of capital flows in the 1970s and the 1980s.

Suggested Citation

  • Mr. D. F. I. Folkerts-Landau & Mr. Donald J Mathieson & Mr. Morris Goldstein & Ms. Liliana Rojas-Suárez & Mr. José Saúl Lizondo & Mr. Timothy D. Lane, 1991. "Determinants and Systemic Consequences of International Capital Flows," IMF Occasional Papers 1991/008, International Monetary Fund.
    • Handle: RePEc:imf:imfops:1991/008
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    Citations

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    Cited by:

    1. Sobel, Andrew C., 2002. "State institutions, risk, and lending in global capital markets," International Business Review, Elsevier, vol. 11(6), pages 725-752, December.
    2. Lisa M. Schineller, 1997. "An econometric model of capital flight from developing countries," International Finance Discussion Papers 579, Board of Governors of the Federal Reserve System (U.S.).
    3. Kreinin, Mordechai E. & Plummer, Michael G., 2008. "Effects of regional integration on FDI: An empirical approach," Journal of Asian Economics, Elsevier, vol. 19(5-6), pages 447-454.
    4. Fry, Maxwell J., 1993. "Foreign direct investment in a macroeconomic framework : finance, efficiency, incentives, and distortions," Policy Research Working Paper Series 1141, The World Bank.
    5. Yung‐Hsiang Ying & Yoonbai Kim, 2001. "An Empirical Analysis on Capital Flows: The Case of Korea and Mexico," Southern Economic Journal, John Wiley & Sons, vol. 67(4), pages 954-968, April.
    6. Dooley, Michael P, 2000. "A Model of Crises in Emerging Markets," Economic Journal, Royal Economic Society, vol. 110(460), pages 256-272, January.
    7. Kreinin, Mordechai E. & Abe, Shigeyuki & Plummer, Michael G., 1999. "Motives for Japanese DFI Survey, analysis, and implications in light of the Asian crisis," Journal of Asian Economics, Elsevier, vol. 10(3), pages 385-394.
    8. Honohan, Patrick & Conroy, Charles, 1994. "Irish Interest Rate Fluctuations in The European Monetary System," Research Series, Economic and Social Research Institute (ESRI), number GRS165.
    9. Dachraoui, Hajer & Smida, Mounir & Sebri, Maamar, 2020. "Role of capital flight as a driver of sovereign bond spreads in Latin American countries," International Economics, Elsevier, vol. 162(C), pages 15-33.
    10. Abdul F. M. Shamsuddin, 1994. "Economic Determinants of Foreign Direct Investment in Less Developed Countries," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 33(1), pages 41-51.
    11. Sobel, Andrew C., 2003. "National governance and global lending," Journal of International Management, Elsevier, vol. 9(3), pages 287-304.
    12. Lisa M. Schineller, 1997. "A nonlinear econometric analysis of capital flight," International Finance Discussion Papers 594, Board of Governors of the Federal Reserve System (U.S.).
    13. Nicholas Addai Boamah, 2021. "Integration, investor protection rules and global informational inefficiency of emerging financial markets," SN Business & Economics, Springer, vol. 1(6), pages 1-22, June.
    14. Ele Reiljan, 2001. "Determinants of foreign direct investment inflows in Estonia," University of Tartu - Faculty of Economics and Business Administration, in: Urmas Varblane (ed.), Foreign Direct Investments in the Estonian Economy, edition 1, volume 9, chapter 2, pages 31-90, Faculty of Economics and Business Administration, University of Tartu (Estonia).

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