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Capital Outflows (capital + outflow)
Selected AbstractsIssues Regarding the Composition of Capital FlowsDEVELOPMENT POLICY REVIEW, Issue 1 2001John Williamson This article considers the composition of capital flows to developing countries. After developing a taxonomy of the alternative possible forms, it presents a brief summary of the main facts and stylised facts of relevance to the topic. It argues that accessing FDI, portfolio equity, or long-term loans, as opposed to short-term loans (e.g. from banks), is well worth the additional cost, because of advantages in terms of risk-sharing, access to intellectual property, impact on investment, and lesser vulnerability to capital flow reversal. It proceeds to discuss the extent to which authorities control appropriate policy levers and concludes with a brief look at the composition of capital outflows from developing countries. [source] Market Sentiment and Macroeconomic Fluctuations under Pegged Exchange RatesECONOMICA, Issue 292 2006PIERRE-RICHARD AGÉNOR The effects of an adverse change in market sentiment, defined as a temporary increase in the premium faced by domestic borrowers on world financial markets, are studied in an intertemporal optimizing framework with imperfect capital mobility. Firms' demands for working capital are financed by bank credit. The shock leads to a rise in domestic interest rates, capital outflows and a drop in official reserves, a reduction in bank deposits and loans, a contraction in output, and an increase in unemployment. These predictions are consistent with Argentina's economic downturn in the immediate aftermath of the Mexican peso crisis of December 1994. [source] The revived Bretton Woods systemINTERNATIONAL JOURNAL OF FINANCE & ECONOMICS, Issue 4 2004Michael P. Dooley Abstract The economic emergence of a fixed exchange rate periphery in Asia has re-established the United States as the centre country in the Bretton Woods international monetary system. We argue that the normal evolution of the international monetary system involves the emergence of a periphery for which the development strategy is export-led growth supported by undervalued exchange rates, capital controls and official capital outflows in the form of accumulation of reserve asset claims on the centre country. The success of this strategy in fostering economic growth allows the periphery to graduate to the centre. Financial liberalization, in turn, requires floating exchange rates among the centre countries. But there is a line of countries waiting to follow the Europe of the 1950s/60s and Asia today, sufficient to keep the system intact for the foreseeable future. Copyright © 2004 John Wiley & Sons, Ltd. [source] CURRENCY CRISES IN EMERGING MARKETS: THE CASE OF POST-LIBERALIZATION TURKEYTHE DEVELOPING ECONOMIES, Issue 4 2008Mete FERIDUN F31; F37 This article investigates the determinants of currency crises in Turkey. It analyzes the two major currency crises of 1994 and 2000,2001 in the light of the existing theoretical models. The present study uses logit, probit, and limited dependent models to explain the currency crises in the post,capital account liberalization era. The results obtained from the three approaches are generally consistent and the coefficients obtained for the explanatory variables generally have the same sign. The findings suggest that the currency crises in Turkey are associated with global liquidity conditions, fiscal imbalances, capital outflows, and banking sector weaknesses. [source] | |||||||||||||