Capital inflows and capital outflows: measurement, determinants, consequences

This 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-...

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Autores principales: Powell, Andrew, Mohapatra, Sanket, Ratha, Dilip
Formato: Documento de trabajo acceptedVersion
Publicado: Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF) 2017
Materias:
Crecimiento económico
Movimientos de capitales
Acceso en línea:http://repositorio.utdt.edu/handle/utdt/6276
Aporte de:
Repositorio Digital Universidad Torcuato Di Tella de Universidad Torcuato Di Tella
id I57-R16320.500.13098-6276
record_format dspace
institution Universidad Torcuato Di Tella
institution_str I-57
repository_str R-163
collection Repositorio Digital Universidad Torcuato Di Tella
topic Crecimiento económico
Movimientos de capitales
spellingShingle Crecimiento económico
Movimientos de capitales
Powell, Andrew
Mohapatra, Sanket
Ratha, Dilip
Capital inflows and capital outflows: measurement, determinants, consequences
description This 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
format Documento de trabajo
acceptedVersion
author Powell, Andrew
Mohapatra, Sanket
Ratha, Dilip
author_facet Powell, Andrew
Mohapatra, Sanket
Ratha, Dilip
author_sort Powell, Andrew
title Capital inflows and capital outflows: measurement, determinants, consequences
title_short Capital inflows and capital outflows: measurement, determinants, consequences
title_full Capital inflows and capital outflows: measurement, determinants, consequences
title_fullStr Capital inflows and capital outflows: measurement, determinants, consequences
title_full_unstemmed Capital inflows and capital outflows: measurement, determinants, consequences
title_sort capital inflows and capital outflows: measurement, determinants, consequences
publisher Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF)
publishDate 2017
url http://repositorio.utdt.edu/handle/utdt/6276
work_keys_str_mv AT powellandrew capitalinflowsandcapitaloutflowsmeasurementdeterminantsconsequences
AT mohapatrasanket capitalinflowsandcapitaloutflowsmeasurementdeterminantsconsequences
AT rathadilip capitalinflowsandcapitaloutflowsmeasurementdeterminantsconsequences
bdutipo_str Repositorios
_version_ 1764820543072108548

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