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Journal articles on the topic 'Portfolio Capital Flows'

Author: Grafiati

Published: 4 June 2021

Last updated: 15 February 2022

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1

Loncan, Tiago Rodrigues, and João Frois Caldeira. "Foreign portfolio capital flows and stock returns: a study of Brazilian listed firms." Estudos Econômicos (São Paulo) 45, no. 4 (2015): 859–95. http://dx.doi.org/10.1590/0101-416145456tlj.

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Abstract This study analyzed the effect of foreign portfolio capital flows on stock returns of Brazilian listed firms through a 6-factors APT model, in which an additional risk factor for foreign portfolio capital flows was included. First, an aggregate analysis was conducted. The partial effect of foreign portfolio capital flows on the IBOVESPA index’s returns was statistically significant and positive. Next, a disaggregate analysis was also implemented, in which portfolios of stocks were sorted by sector of economic activity, level of risk and level of corporate governance. Foreign portfolio

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2

Claessens, Stijn, Michael P. Dooley, and Andrew Warner. "Portfolio Capital Flows: Hot or Cold?" World Bank Economic Review 9, no. 1 (1995): 153–74. http://dx.doi.org/10.1093/wber/9.1.153.

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Cavallino, Paolo. "Capital Flows and Foreign Exchange Intervention." American Economic Journal: Macroeconomics 11, no. 2 (2019): 127–70. http://dx.doi.org/10.1257/mac.20160065.

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I consider a small open economy model where international financial markets are imperfect and the exchange rate is determined by capital flows. I use this framework to study the effects of portfolio flow shocks, derive the optimal foreign exchange intervention policy, and characterize its interaction with monetary policy. I derive the optimal intervention rule in closed form as a function of three implicit targets. Finally, using Swiss data, I estimate the model to quantify the inefficiencies generated by capital flow shocks and the optimal size of the intervention. (JEL E44, E52, E63, F31, F3

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Devereux, Michael B., and Alan Sutherland. "A portfolio model of capital flows to emerging markets." Journal of Development Economics 89, no. 2 (2009): 181–93. http://dx.doi.org/10.1016/j.jdeveco.2008.07.002.

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Rumondor, Bayront Yudit, and Pakasa Bary. "Capital Flows and Bank Risk-Taking Behavior: Evidence From Indonesia." Journal of Central Banking Theory and Practice 9, s1 (2020): 33–53. http://dx.doi.org/10.2478/jcbtp-2020-0022.

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AbstractThis paper investigates the impact of capital flows on bank risk-taking behavior. It undertakes two levels of empirical estimations, namely (i) single-country industry-level; and (ii) multi-country industry-level estimations, covering emerging market economies. The results suggest that capital inflows, in the form of portfolio investment, is significant in raising risk-taking behavior. Large banks are less aggressive in their risk-taking behavior vis-à-vis smaller banks. Such impact of portfolio investment on risk-taking behavior is also shown in the multi-country level estimates.

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Rehman, Muhammad Atiq-ur, Allah Ditta, Muhammad Atif Nawaz, and Furrukh Bashir. "The Lucas Paradox and Institutional Quality: Evidence from Emerging Markets." Review of Economics and Development Studies 6, no. 2 (2020): 561–70. http://dx.doi.org/10.47067/reads.v6i2.223.

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The neoclassical theory illustrates that the capital will flow from the capital-rich economies towards the capital-poor states. However, it is generally observed that the capital does not move from high-income to low-income economies. This contradictory behavior of global capital flows is called the Lucas paradox. According to Alfaro, Kalemli-Ozcan, & Volosovych (AKV) model, the Lucas paradox can be entirely explained by the institutional quality. In the light of AKV notion, this paper examines the role of institutional quality in explaining the Lucas paradox. The empirical analysis involv

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Boero, Gianna, Zeyyad Mandalinci, and Mark P. Taylor. "Modelling portfolio capital flows in a global framework: Multilateral implications of capital controls." Journal of International Money and Finance 90 (February 2019): 142–60. http://dx.doi.org/10.1016/j.jimonfin.2018.09.006.

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Ong’ondo, Wiberforce. "FOREIGN CAPITAL FLOWS AND ECONOMIC GROWTH OF KENYA." International Journal of Finance and Accounting 3, no. 2 (2018): 40. http://dx.doi.org/10.47604/ijfa.752.

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The purpose of the study was to establish the effects of foreign capital flows on economic growth of Kenya. The study employed a quantitative research design. The target population of this study was Kenya since it is the Center of analysis. Considering that the population is one country, Kenya, secondary data was collected over a period of 25 years from 1993 to 2017. Therefore, the number of observations was X * 25 = 25. The research conducted a census on Kenya using secondary data from Nairobi Securities Exchange (NSE), Capital Markets Authority (CMA), Kenya National Bureau of Statistics (KNB

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Yupho, Somrasri, and Xianguo Huang. "Portfolio Capital Flows in Thailand: A Bayesian Model Averaging Approach." Emerging Markets Finance and Trade 50, sup2 (2014): 89–99. http://dx.doi.org/10.2753/ree1540-496x5002s206.

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10

ESEN, Oguz. "PORTFOLIO CAPITAL FLOWS TO DEVELOPING COUNTRIES IN THE GLOBAL ECONOMY." Ekonomik Yaklasim 9, no. 30 (1998): 59. http://dx.doi.org/10.5455/ey.10293.

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MANDALINCI, ZEYYAD, and HAROON MUMTAZ. "Global Economic Divergence and Portfolio Capital Flows to Emerging Markets." Journal of Money, Credit and Banking 51, no. 6 (2018): 1713–30. http://dx.doi.org/10.1111/jmcb.12576.

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Yildirim, Nuri, and Huseyin Tastan. "Capital flows and economic growth across spectral frequencies: Evidence from Turkey." Panoeconomicus 59, no. 4 (2012): 441–62. http://dx.doi.org/10.2298/pan1204441y.

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This paper examines interactions and feedbacks between categories of capital flows and economic growth in Turkey for the 1992:01-2009:08 period. Our empirical analysis is based on a new version of the causality test of John Geweke (1982, p. 77) and Yuzo Hosoya (1991, p. 88) in the frequency domain proposed recently by J?rg Breitung and Bertrand Candelon (2006, p. 132). In addition, using standard methods in spectral analysis, we decompose the total covariance between capital flows and growth across main frequency bands and capture lead/lag interactions between them. Some of our findings are as

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Golovnin, M. Yu, and G. R. Oganesian. "External and Internal Factors of Cross-Border Capital Flows in Russia." World of new economy 13, no. 4 (2019): 41–50. http://dx.doi.org/10.26794/2220-6469-2019-13-4-41-50.

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The literature on the assessment of factors affecting cross-border capital flows is usually characterised by distinguishing of external and internal factors. The former as a rule include international indices of the global economic growth rate, interest rates and other indicators of profitability (for certain types of financial assets). The latter include domestic indices of the growth rate of the national economy, interest rates and the profitability of financial instruments, sovereign credit ratings. Since the beginning of the 21st century, cross-border capital flows in Russia have followed

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AHLQUIST, JOHN S. "Economic Policy, Institutions, and Capital Flows: Portfolio and Direct Investment Flows in Developing Countries." International Studies Quarterly 50, no. 3 (2006): 681–704. http://dx.doi.org/10.1111/j.1468-2478.2006.00420.x.

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Gupta, Kirti, and Shahid Ahmed. "Determinants of foreign portfolio flows to Indian debt market." Journal of Indian Business Research 12, no. 4 (2020): 459–79. http://dx.doi.org/10.1108/jibr-01-2019-0024.

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Purpose The volatile nature of foreign portfolio flows, especially flows into debt market, has large implications on financial and macroeconomic stability in recipient countries. It is necessary to identify the main drivers of portfolio investments in bond market of developing economies to design effective policies to enhance resilience of the economy and help in managing capital flow volatility. The determinants of foreign portfolio investment to Indian equity market have been examined in literature, but flows to bond market remain unexplored. Thus, the purpose of this paper is to identify th

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Kler, Rajnish. "FII Flows and Stock Market Capitalization in India." Journal of Business Management and Information Systems 4, no. 1 (2017): 53–59. http://dx.doi.org/10.48001/jbmis.2017.0401006.

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The portfolio investment by Foreign Institutional Investors (FIIs) has become a remarkable force behind the development of Indian stock market and is majorly perceived as achief cause of stock market volatility. This has attracted numerous of researchers to study the relationship between FIIs Portfolio flows and volatility in stock market of India. In order to ascertain the relation between FIIs portfolio flows and stock market volatility the impact study of market capitalization and FIIs inflows and outflows relationship has been established .The study is conducted using monthly time series o

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Khayat, Sahar Hassan, and Samiha Hassan Khayyat. "Cross-Border Portfolio Investment from Developing Economies and Top Major Partners, Using the Gravity Model." International Journal of Economics and Finance 10, no. 11 (2018): 137. http://dx.doi.org/10.5539/ijef.v10n11p137.

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The study has evaluated the volume of cross-border portfolio investment from developing economies and top major partners, using gravity model. Panel data set is used on bilateral gross cross-border investment flows between 37 developing countries and 79 host countries, which are the top five in the world from 2001 and 2012. The positive and significant coefficient on GDP per capita in a destination country can explain a significant part of Lucas paradox. It supported the reason why developing capital is invested outside the region. The results showed statistically insignificant effect of bilat

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Colombo, Jefferson A., Tiago R. Loncan, and João F. Caldeira. "Do foreign portfolio capital flows affect domestic investment? Evidence from Brazil." International Journal of Finance & Economics 24, no. 2 (2018): 855–83. http://dx.doi.org/10.1002/ijfe.1695.

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19

V P, Nirmal Roy. "Openness and Basic Motives of Foreign Portfolio Capital Flows into India." Review of Development and Change 15, no. 2 (2010): 153–82. http://dx.doi.org/10.1177/0972266120100202.

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Devereux, Michael B., Makoto Saito, and Changhua Yu. "International capital flows, portfolio composition, and the stability of external imbalances." Journal of International Economics 127 (November 2020): 103386. http://dx.doi.org/10.1016/j.jinteco.2020.103386.

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21

Eichengreen, Barry, Poonam Gupta, and Oliver Masetti. "Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type?" Asian Economic Papers 17, no. 1 (2018): 22–41. http://dx.doi.org/10.1162/asep_a_00583.

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According to conventional wisdom, capital flows are fickle. Focusing on emerging markets, we ask whether this conventional wisdom still holds in our contemporary world. Our results show that, despite recent structural and regulatory changes, much of it survives. Foreign direct investment (FDI) inflows are more stable than non-FDI inflows. Within non-FDI inflows, portfolio debt and bank-intermediated flows remain the most volatile. Whereas FDI inflows are driven mainly by pull factors, portfolio debt and equity are driven mainly by push factors; bank-intermediated flows are driven a combination

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Kwarah, Abdullahi Murtala, Irrshad Kaseeram, and Aliyu Sanusi Rafindadi. "The Capital Flow Volatility Spillover in Some Selected African Economies." Finance & Economics Review 3, no. 1 (2021): 1–22. http://dx.doi.org/10.38157/finance-economics-review.v3i1.272.

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Purpose: The study conducted an empirical examination of the link between capital flows and exchange rate by examining the relative influence of FDI and FPI on the exchange rates.  Method: The study proceeded with the EGARCH model and the data sample covering the period from 1990-2016. The data were subjected to cross-country screening. The screening criteria are such that all the data that constitute capital in all sampled countries must have equal sample sizes. The measurement of capital flow in each of the sampled countries was restricted to two categories capital, namely, foreign por

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Nuryakin, Chaikal, Edith Zheng Wen Yuan, and I. Gede Putra Arsana. "Portfolio Flows into Indonesia: Push or Pull?" Economics and Finance in Indonesia 62, no. 2 (2016): 121. http://dx.doi.org/10.7454/efi.v62i2.550.

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This paper focuses on the dynamic of the portfolio flows into Indonesia. The result of Structural Vector Autoregression (SVAR) model reveals that push factors is more dominant than pull factors in explaining portfolio flows into Indonesia. Portfolio flows into Indonesia are positively correlated with regional’s stock market performance and negatively correlated to the federal funds rate. On the pull factors, domestic risk (the Credit Default Swap spread) is more dominant than domestic return (the BI rate) in explaining the flows. Thus, it is important for authorities to have more focus on dome

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Sedai, Ashish Kumar. "Why So Serious about Foreign Capital?" International Journal of Financial Studies 7, no. 3 (2019): 47. http://dx.doi.org/10.3390/ijfs7030047.

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This study examines the cost and benefits of capital inflow in emerging economies and delineates equity and debt to examine the nature and trends of capital inflows in Brazil, Russia, India, China, South Africa (BRICS), East Asia and Sub-Saharan Africa since their economic reforms. We adopt a two-step process to address endogeneity and to tease out the causal effect of capital flow on economic growth and vice versa. First, we run the panel Granger causality test to examine the precedence of causality between per capita GDP growth, Foreign Direct Investment (FDI) inflows, portfolio inflows and

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Andriansyah, Andriansyah, and George Messinis. "Stock prices, exchange rates and portfolio equity flows." Journal of Economic Studies 46, no. 2 (2019): 399–421. http://dx.doi.org/10.1108/jes-12-2017-0361.

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Purpose The purpose of this paper is to develop a new framework to test the hypothesis that portfolio model predicts a negative correlation between stock prices and exchange rates in a trivariate transmission channel for foreign portfolio equity investment. Design/methodology/approach This paper utilizes panel data for eight economies to extend the Dumitrescu and Hurlin (2012) Granger non-causality test of heterogeneous panels to a trivariate model by integrating the Toda and Yamamoto (1995) approach to Granger causality. Findings The evidence suggests that stock prices Granger-cause exchange

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Meurer, Roberto. "Portfolio Investment Flows, GDP, and Investment in Brazil." International Journal of Economics and Finance 8, no. 12 (2016): 1. http://dx.doi.org/10.5539/ijef.v8n12p1.

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Foreign portfolio investment (FPI) flows have grown substantially in recent decades, following changes in the international financial system. In Brazil, FPI represented 66% of foreign direct investment between 1995 and 2009, which makes it meaningful to analyze these flows. In this paper, the relationships between FPI flows to Brazil, GDP, investment, and financial variables from 1995 to 2009 are analyzed, employing quarterly data and applying descriptive statistics, correlation coefficients, and Granger causality tests. Results show a positive relationship between flows, GDP, and investment.

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Ibhagui, Oyakhilome, and Kolawole Olawole. "Capital flows and domestic investment: new evidence from OPEC countries." Journal of Financial Economic Policy 11, no. 4 (2019): 505–32. http://dx.doi.org/10.1108/jfep-06-2018-0090.

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Purpose In the past few decades, there have been phenomenal increases in capital flows to developing and emerging markets. However, a key question that has largely remained unanswered is whether the expected economic benefits have materialized. Existing studies have concentrated on the impact of capital flows on domestic investment in developing countries, emerging markets, transition economies, ECOWAS and sub-Saharan Africa, leaving an important economic bloc, OPEC. This paper aims to assess the impact of capital flows on domestic investment in OPEC countries – with a view to determining whet

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Emara, Noha, and Ayah El Said. "Revisiting Sovereign Ratings, Capital Flows And Financial Contagion in Emerging Markets." World Journal of Applied Economics 1, no. 2 (2015): 3. http://dx.doi.org/10.22440/econworld.j.2015.1.2.ne.0013.

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This study revisits sovereign credit ratings, contagion and capital flows to Emerging Markets (EMs), and clarify the relationship between them. Specifically, this study analyzes how the changes in sovereign rating influence different types of capital flows to EMs and whether the changes in the different kinds of capital flows in one country be explained by a sovereign ratings’ change in another country. Using Arellano-Bover/Blundell-Bond Dynamic Panel System GMM for 23 EMs over the period 1990-2012 the results of the study suggest that sovereign ratings is a crucial factor for EMs’ access to i

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Debbiche, Imene, and Oubeid Rahmouni. "Does Foreign Capital Enhance Economic Growth In Emerging Countries: Flow Decomposition Approach?" Journal of Applied Business Research (JABR) 31, no. 1 (2014): 221. http://dx.doi.org/10.19030/jabr.v31i1.9002.

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Unlike trade liberalization, the impact of financial openness on growth is still mitigated. In fact, empirical studies focusing on effects of capital account liberalization are inconclusive, which could be due to the sample chosen, to the liberalization index or to the fact that studies take account of capital inflows as a whole which can mask substantial differences between different flow effects.Our purpose in this paper is on one hand to re-examine the impact of capital inflows on growth by dividing these inflows into portfolio equity flows, foreign direct investment flows and debt flows an

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Broszkiewicz, Magdalena. "Portfolio investment as a factor for the development of the Russian economy as one of the BRIC countries." Ekonomia Międzynarodowa, no. 19 (September 30, 2017): 116–33. http://dx.doi.org/10.18778/2082-4440.19.01.

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Portfolio investments have an impact on the development of financial markets around the world, especially in countries of growing importance for the global economy. Russia is one of the countries which are mainly linked to the energy and raw materials sector, so at a time of fluctuations on those markets, its economy is less predictible for international investors. The regulations for investors in this country (also non-residents) need to be improved to overcome the negative effects of world financial crisises and to rebuild financial markets. Russia is also an economy with large amounts of ca

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CHO, DONGCHUL, and CHANGYONG RHEE. "EFFECTS OF QUANTITATIVE EASING ON ASIA: CAPITAL FLOWS AND FINANCIAL MARKETS." Singapore Economic Review 59, no. 03 (2014): 1450018. http://dx.doi.org/10.1142/s0217590814500180.

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This paper studies the effects of US quantitative easing (QE) on Asia by examining capital flows and financial markets. After the global financial crisis (GFC), Asian economies with more open and developed capital markets experienced greater swings in capital inflows. In particular, large capital flows manifest more in portfolio investment and other investment such as bank loans than in foreign direct investment. Empirical analysis shows QE, QE1 in particular, significantly contributed to the rebounding of capital inflows to the region after the onset of the crisis by lowering domestic yield r

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Ousama, Ben-Salha, and Zmami Mourad. "The Impact of Private Capital Flows on Economic Growth in the MENA Region." Economics and Business Review 6 (20), no. 3 (2020): 45–67. http://dx.doi.org/10.18559/ebr.2020.3.3.

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The aim of the article is to conduct an empirical analysis of the impact of aggregate and disaggregate private capital flows on economic growth in eleven MENA countries between 1980 and 2018. Unlike prior empirical studies, the fixed effect panel quantile approach developed by Canay (2011) is implemented. Findings suggest that there is a significant difference in the effects of private capital flows on economic growth across lower and higher quantiles. More specifically, the effects of total private capital flows, foreign direct investment flows, portfolio flows and debt flows are positive and

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Osei-Assibey, Eric, and Seth Obeng Adu. "Determinants of portfolio equity flows to Sub-Saharan Africa." African Journal of Economic and Management Studies 7, no. 4 (2016): 446–61. http://dx.doi.org/10.1108/ajems-03-2015-0034.

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Purpose The purpose of this paper is to investigate the determinants of portfolio equity flows to the Sub-Saharan African (SSA) region over the period 1996-2010. Design/methodology/approach The study uses a sample of 14 SSA countries to estimate the baseline regression through employing the system generalized methods of moment dynamic panel estimation framework. To check the robustness of the estimation results, the study further analyses the data set using the random effects-generalized least squares (EGLS) estimator. The Random effects-generalized least squares estimator is also referred to

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Goyal, Ashima, and Vaishnavi Sharma. "Estimating the Relationship Between the Current Account, the Capital Account and Investment for India." Foreign Trade Review 54, no. 1 (2019): 29–45. http://dx.doi.org/10.1177/0015732518810832.

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Causality from the capital account (KA) to the current account (CA) of the balance of payments indicates disruption from capital flows while the reverse can indicate smooth financing of the CA that allows investment to exceed domestic savings. A three-variable vector autoregression tests for Granger causality between the Indian CA, KA, KA components, and gross fixed capital formation (GFCF) over 2000–01Q1 to 2015–16Q3. Since a CA deficit indicates an excess of investment over savings it is useful to estimate which type of capital flows affect investment. No causality is found to exist in any d

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CHIPALKATTI, NIRANJAN, QUAN V. LE, and MEENAKSHI RISHI. "Portfolio Flows to Emerging Capital Markets: Do Corporate Transparency and Public Governance Matter?" Business and Society Review 112, no. 2 (2007): 227–49. http://dx.doi.org/10.1111/j.1467-8594.2007.00295.x.

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Golovnin, M. Yu, and S. A. Nikitina. "Current Trends in the Dynamics of International Capital Flows." World of new economy 12, no. 4 (2019): 46–56. http://dx.doi.org/10.26794/2220-6469-2018-12-4-46-56.

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Global economic and financial crisis 2007–2009 had a devastating effect on international capital flows. An assessment of their dynamics over the past decade shows that in certain fields (for example, the volume of international debt securities circulating) the pre-crisis indicators were exceeded, in a number of areas they are close to the pre-crisis level (foreign direct investments, total capitalization of the world stock market), international bank lending remains significantly behind the pre-crisis values. In the leading world economies cross-border capital flows relative to GDP significant

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Karolyi, G. Andrew, David T. Ng, and Eswar S. Prasad. "The Coming Wave: Where Do Emerging Market Investors Put Their Money?" Journal of Financial and Quantitative Analysis 55, no. 4 (2019): 1369–414. http://dx.doi.org/10.1017/s002210901900022x.

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Using country- and institution-level data, we find that the “coming wave” of emerging- market (EM) investors systematically over- or underweight their equity portfolio holdings in a way that reflects the influences of past capital and trade flows from a foreign country. We interpret this finding as support for van Nieuwerburgh and Veldkamp (2009) information endowment hypothesis. Strong past capital and trade flows create an information advantage that leads EM investors to disproportionately overweight a given foreign market, even relative to developed market investor counterparts. We also pur

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Lozi, Basem M., and Mamoun Shakatreh. "The Impact of International Capital Flows on Jordan’s Economic Growth." International Journal of Economics and Financial Research, no. 59 (September 15, 2019): 214–20. http://dx.doi.org/10.32861/ijefr.59.214.220.

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The aim of this study is to examine the impact of international capital flows on the economic growth in Jordan during the period from 2005 to 2017, The study also examines trends and composition of capital inflows. The study used descriptive analytical research method which was appropriate for the purpose of research. By using time series data, the study found that Foreign Direct Investment (FDI), foreign portfolio investment (FPI), grants (Gr) and Worker remittances (WR) are positively affecting the economic growth direct contribution. Based on the research results, the study came with a seve

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Dziuba, Pavlo, Olena Pryiatelchuk, and Denys Rusak. "EQUITY MARKETS RISKS AND RETURNS: IMPLICATIONS FOR GLOBAL PORTFOLIO CAPITAL FLOWS DURING PANDEMIC AND CRISIS PERIODS." Baltic Journal of Economic Studies 7, no. 3 (2021): 97–108. http://dx.doi.org/10.30525/2256-0742/2021-7-3-97-108.

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The paper is devoted to the study of risk and return tradeoff in the global equity market as well as particular market groups: developed, emerging and frontier markets. Impact of this tradeoff on international equity portfolio liabilities is explored. The study confirms the hypothesis that there are some specific patterns of risk and return tradeoff during crisis periods and periods of markets regular regime that substantially differ from each other and define global portfolio equity flows and liabilities in a specific way. The paper thus carries out its main objective that implies revealing t

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Bado, Basri, Arung Samudera, and Muhammad Imam Ma’ruf. "Analisis aliran modal asing ke indonesia dengan Pull and push factors." Jurnal Ad'ministrare 5, no. 2 (2019): 77. http://dx.doi.org/10.26858/ja.v5i2.7884.

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The purpose of this study is to analyze the flow of foreign capital into Indonesia with pull and push factors. Determinants used on Pull and Push factors are Domestic GDP. Global GDP, domestic interest rates, international interest rates and the country's political risks. The study uses a quantitative approach using time series data with a span of 20 years after the monetary crisis in Indonesia (1998-2017). Data analysis using multiple linear regression equations. The results of the study found that it turned out that the dominant factors influencing foreign capital flows were pull factors bot

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Coppola, Antonio, Matteo Maggiori, Brent Neiman, and Jesse Schreger. "Redrawing the Map of Global Capital Flows: The Role of Cross-Border Financing and Tax Havens." Quarterly Journal of Economics 136, no. 3 (2021): 1499–556. http://dx.doi.org/10.1093/qje/qjab014.

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Abstract Global firms finance themselves through foreign subsidiaries, often shell companies in tax havens, which obscures their true economic location in official statistics. We associate the universe of traded securities issued by firms in tax havens with their issuer's ultimate parent and restate bilateral investment positions to better reflect the financial linkages connecting countries around the world. Bilateral portfolio investment from developed countries to firms in large emerging markets is dramatically larger than previously thought. The national accounts of the United States, for e

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Agarwal, Manmohan, Pragya Atri, and Srikanta Kundu. "Foreign Direct Investment and Poverty Reduction." South Asia Economic Journal 18, no. 2 (2017): 135–57. http://dx.doi.org/10.1177/1391561417713129.

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It is widely proclaimed that capital account liberalization would immensely benefit developing economies because once capital controls are lifted, developing economies create a potential for movement of capital. And, this free movement of capital could possibly increase growth thereby lifting millions out of poverty. India has been gradually liberalizing since the 1980s and throughout more capital inflows were observed compared to outflows. Also, the composition of capital flows has been changing since the 1980s–with Foreign Direct Investment (FDI) inflows rising steadily post-1991compared to

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Marrakchi, Charfi. "Capital flows, real exchange rates, and capital controls: What is the scope of liberalization for Tunisia?" Panoeconomicus 60, no. 4 (2013): 515–40. http://dx.doi.org/10.2298/pan1304515m.

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This paper deals with an important aspect of Tunisian economic and political decisions related to the opportunity for currency convertibility. Tunisia has established its current currency convertibility and has taken steps to achieve full convertibility of the dinar by gradually removing capital flow obstacles. Theoretical and empirical literature suggests that capital account liberalization generally leads to capital inflow in developing countries, generating an appreciation in the real exchange rate (RER) and thus a loss in competitiveness. However, preserving competitiveness is a key challe

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Hlaing, Su Wah, and Makoto Kakinaka. "Global uncertainty and capital flows: any difference between foreign direct investment and portfolio investment?" Applied Economics Letters 26, no. 3 (2018): 202–9. http://dx.doi.org/10.1080/13504851.2018.1458182.

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Clement Abur, Cyprian. "Upshot of Foreign Capital Flows on Real Sector Growth in Nigeria." Sumerianz Journal of Economics and Finance, no. 312 (December 9, 2020): 224–33. http://dx.doi.org/10.47752/sjef.312.224.233.

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This study examines the upshot of foreign capital inflows on real sector growth in Nigeria from 1986 to 2019. The study sets out to achieve the effect of foreign direct investment (FDI), foreign portfolio investment (FPI), and official development assistance (ODA) on real sector growth in Nigeria. The study employed the SVAR model to achieve the study objective and the data sets used for this study were secondary sources. The study found that the inflows of FDI and ODA influence the industrial sector output significantly than the agricultural sector, thereby making the sector unattractive to f

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Vilutiene, Laura, and Daiva Dumciuviene. "The Impact of International Capital Flows on Central and Eastern European Countries’ Investments, Savings, Consumption, and Current Accounts." Engineering Economics 31, no. 4 (2020): 450–60. http://dx.doi.org/10.5755/j01.ee.31.4.24855.

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Capital flows have been analysed from various perspectives and yet no consensus has been reached about the impact of international capital flows on national economies. The main aim of this paper is to present the theoretical aspects of the effect of international capital flows on national economies, and to analyse the impact of international capital flows on Central and Eastern European (CEE) countries’ domestic savings, investments, consumption, and current accounts. During the investigation, the latest studies on international capital flows were reviewed and systemised, 11 CEE countries’ mai

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Khan, Mohammad Zubair. "Pakistan: Prospects for Private Capital Flows and Financial Sector Development." Pakistan Development Review 35, no. 4II (1996): 853–83. http://dx.doi.org/10.30541/v35i4iipp.853-883.

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In less than a decade after the debt crisis of 1982, developing countries have experienced a surge of capital inflows in recent years. This trend became more pronounced in the 1990s resulting in overall balance of payments surpluses and accumulation of reserves. Total private capital inflows to developing countries exceeded $173 billion in 1994, compared to annual average inflows of $34 billion during 1983–90 [World Bank (1995)]. Although the characteristics of capital inflows in this episode are different than in the period prior to the last debt crisis, nevertheless concerns about macroecono

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Aleksandrovna Vershinina, Anna, Irina Anatolievna Kiseleva, Anatoly Vladimirovich Korotkov, Tatiana Petrovna Nikolaeva, and Tamara Petrovna Gorelova. "Market for Corporate Securities and Building the CALM Portfolio Model." International Journal of Engineering & Technology 7, no. 3.14 (2018): 450. http://dx.doi.org/10.14419/ijet.v7i3.14.17041.

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This article attempts to explore the role of the market for corporate securities and build an appropriate portfolio. The main goal of this article is to explore the modern market for corporate securities in Russia. The methods of cognition, retrospective and documentary analysis, as well as synthesis, generalization and systematization were used in this work. The essence and structure of the market for corporate securities were examined in the article, its role was identified, and market instruments and their features were explored. Models of building a securities’ portfolio were analyzed. Bei

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Li, Mingming, Fengming Qin, and Zhaoyong Zhang. "Short-Term Capital Flows, Exchange Rate Expectation and Currency Internationalization: Evidence from China." Journal of Risk and Financial Management 14, no. 5 (2021): 223. http://dx.doi.org/10.3390/jrfm14050223.

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This paper intended to employ a portfolio approach to assess the effect of exchange rate expectation on Chinese RMB internationalization and empirically test the interactive effects among short-term capital flows, RMB appreciation expectation and the internationalization process using a VAR model with monthly data ranging from February 2004 to December 2020. The results suggest that RMB exchange rate appreciation could lead to an increase in the foreign demand for RMB and RMB denominated assets, while RMB internationalization would attract more short-term capital inflow due to the reduced tran

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Geanakoplos, John, and Haobin Wang. "Quantitative Easing, Collateral Constraints, and Financial Spillovers." American Economic Journal: Macroeconomics 12, no. 4 (2020): 180–217. http://dx.doi.org/10.1257/mac.20180484.

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The steady application of quantitative easing (QE ) has been followed by big and nonmonotonic effects on international asset prices and capital flows. We rationalize these observations in a model in which a central bank buys domestic assets that serve as the best collateral for investors worldwide. The crucial insight is that domestic private agents adjust their portfolios of domestic and foreign assets in different ways to offset QE, conditional on whether they are (i) fully leveraged, (ii ) partially leveraged, or (iii) unleveraged. These portfolio shifts can diminish or even reverse the imp

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