Capital Mobility in Developing Countries PDF Download
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Author: Peter Montiel
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 69
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Book Description
Author: Peter Montiel
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 69
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Book Description
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451941315
Category : Business & Economics
Languages : en
Pages : 16
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Book Description
The degree of capital mobility in developing economies is seldom estimated, even though it is widely recognized to be an important element in determining the effects of stabilization policies. Instead, an economy is assumed to be open or closed mainly on grounds of analytical convenience. This paper develops a simple approach to modelling and measuring the degree of financial openness which is applicable to developing economies. Empirical estimation using data from a large number of developing countries suggests that the effective degree of capital mobility in such economies may be higher than is commonly assumed.
Author: Mr.Donald J. Mathieson
Publisher: International Monetary Fund
ISBN: 1451855230
Category : Business & Economics
Languages : en
Pages : 46
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Book Description
Official controls on interest rates and capital flows rule out the use of traditional interest rate parity conditions to measure changes in the degree of capital mobility confronting developing countries. This paper develops an alternative technique for measuring the cost of undertaking disguised capital flows when such official controls are present. This measure is derived from an intertemporal, optimizing model of an open economy incorporating the influence of the authorities’ foreign exchange market activities. The paper suggests that the real cost of undertaking disguised capital flows declined on average by nearly 70 percent between the early 1970s and the late 1980s.
Author: Peter J. Montiel
Publisher:
ISBN:
Category : Capital movements
Languages : en
Pages : 72
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Book Description
It is rare for developing countries to be strongly integrated with financial markets, but most developing countries must be regarded as financially open, according to new estimates.
Author: Nlandu Mamingi
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 34
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Book Description
Author: Nadeem Ul Haque
Publisher:
ISBN:
Category :
Languages : en
Pages : 12
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Book Description
Author: Mr.Atish R. Ghosh
Publisher: International Monetary Fund
ISBN: 1451978820
Category : Business & Economics
Languages : en
Pages : 46
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Book Description
This paper proposes a methodology for testing whether capital flows to developing countries are determined by economic fundamentals or by purely speculative forces. We use the intertemporal optimizing approach to current account determination as our benchmark for judging the behavior of capital flows. According to this approach, capital flows should act as a buffer to smooth consumption in the face of temporary shocks to national cash flow, defined as output less investment less government expenditures. The results are encouraging. For a large sample of developing countries, economic fundamentals are indeed found to be the most important determinant of capital flows.
Author: Eduardo Fernandez-Arias
Publisher: World Bank Publications
ISBN:
Category : Capital movements
Languages : en
Pages : 54
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Author: Mr.Donald J. Mathieson
Publisher: International Monetary Fund
ISBN: 1451973756
Category : Business & Economics
Languages : en
Pages : 60
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Book Description
This paper reviews the experience with capital controls in industrial and developing countries, considers the policy issues raised when the effectiveness of capital controls diminishes, examines the medium-term benefits and costs of an open capital account, and analyzes the policy measures that could help sustain capital account convertibility. As the effectiveness of capital controls eroded more rapidly in the 1980s than in earlier periods, new constraints were placed on the formulation of stabilization and structural reform programs. However, experience suggests that certain macroeconomic, financial, and risk management policies would allow countries to attain the benefits of capital account convertibility and reduce the financial risks created by an open capital account.
Author: Bernhard Fischer
Publisher: OECD Publishing
ISBN:
Category : Social Science
Languages : en
Pages : 164
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Book Description
