Capital inflows and capital outflows: measurement, determinants, consequences

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dc.audienceResearchers
dc.audienceStudents
dc.audienceTeachers
dc.contributor.authorPowell, Andrew
dc.contributor.authorMohapatra, Sanket
dc.contributor.authorRatha, Dilip
dc.date.accessioned2017-04-07T19:08:16Z
dc.date.available2017-04-07T19:08:16Z
dc.date.issued2002
dc.description.abstractThis paper develops new estimates of capital outflows and is the first, to our knowledge, to analyze the determinants, consequences and inter-relationship between inflows and outflows. Given the dynamics and individual country effects, we use a panel-VAR and find that inflows and outflows are inter-related, that lower inflows/higher outflows lead to lower growth, and among other effects to a higher fiscal deficit, which feeds back to lower inflows/higher outflows. These results provide evidence of vicious and virtuous cycles. We find no strong evidence that official flows crowd-in private ones. We conclude it is particularly important for developing countries to maintain prudent policies, and especially adequate fiscal discipline, to avoid vicious and reinforce virtuous cycles
dc.description.sponsorshipPara cualquier uso del contenido del presente documento debe ponerse en contacto con el autor.es_AR
dc.format.extent52 p.
dc.format.mediumapplication/pdfes_AR
dc.identifier.urihttps://repositorio.utdt.edu/handle/20.500.13098/6276
dc.publisherUniversidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF)
dc.relation.ispartofCentro de Investigaciones Financieras (CIF). Documentos de trabajo 07/2002
dc.rightsinfo:eu-repo/semantics/restrictedAccesses_AR
dc.rights.licensehttp://rightsstatements.org/page/InC/1.0/?language=eses_AR
dc.subject.UTDTCrecimiento económico
dc.subject.UTDTMovimientos de capitales
dc.titleCapital inflows and capital outflows: measurement, determinants, consequences
dc.typeinfo:eu-repo/semantics/workingPaper
dc.type.versioninfo:eu-repo/semantics/acceptedVersiones_AR

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