Opening Up Capital Flows And Financial Sector Dynamics In Low Income Developing Countries
DOWNLOAD
Download Opening Up Capital Flows And Financial Sector Dynamics In Low Income Developing Countries PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Opening Up Capital Flows And Financial Sector Dynamics In Low Income Developing Countries book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Opening Up Capital Flows And Financial Sector Dynamics In Low Income Developing Countries
DOWNLOAD
Author : Sebastian Horn
language : en
Publisher: International Monetary Fund
Release Date : 2021-09-24
Opening Up Capital Flows And Financial Sector Dynamics In Low Income Developing Countries written by Sebastian Horn and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-24 with Business & Economics categories.
Over the past two decades, many low-income developing countries have substantially increased openness towards external financing and have received large capital inflows. Using bank-level micro data, this paper finds that capital inflows have been associated with financial deepening through increases in bank loans, deposits, and wholesale funding. Domestic banks increase loans more than foreign banks. There are only modest signs of a build-up in financial vulnerabilities. Causality is examined through an instrumental variable approach and an augmented inverse-probability weighting estimator. These approaches indicate only limited evidence for global push effects, pointing towards the importance of domestic pull factors.
Private Capital Flows To Developing Countries
DOWNLOAD
Author :
language : en
Publisher: World Bank Publications
Release Date : 1997
Private Capital Flows To Developing Countries written by and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Business & Economics categories.
This book analyzes the process of international financial integration and the structural forces driving private capital to developing countries. Against this background, it details the potential benefits of integration and the implications of fast-moving global capital flows for emerging economics. Examining the experience of countries that have attracted substantial private capital flows, the book provides invaluable guidance as to what works and what doesn't during the transition to financial integration. It will be of compelling interest to policymakers and also to international investors and bankers, financial analysts, and researchers.
Financial Globalization And Inequality Capital Flows As A Two Edged Sword
DOWNLOAD
Author : Mr.Barry J. Eichengreen
language : en
Publisher: International Monetary Fund
Release Date : 2021-01-08
Financial Globalization And Inequality Capital Flows As A Two Edged Sword written by Mr.Barry J. Eichengreen and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-01-08 with Business & Economics categories.
We review the debate on the association of financial globalization with inequality. We show that the within-country distributional impact of capital account liberalization is context specific and that different types of flows have different distributional effects. Their overall impact depends on the composition of capital flows, their interaction, and on broader economic and institutional conditions. A comprehensive set of policies – macroeconomic, financial and labor- and product-market specific – is important for facilitating wider sharing of the benefits of financial globalization.
Globalization And National Financial Systems
DOWNLOAD
Author : James A. Hanson
language : en
Publisher: World Bank Publications
Release Date : 2003
Globalization And National Financial Systems written by James A. Hanson and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.
This book breaks new ground by exploring the challenges, constraints, and opportunities of national financial systems in developing countries, while noting that all such systems must be considered small when viewed in the context of global finance. Banking, securities, contractual savings, and systemic macroeconomic aspects are all considered.
Global Development Finance 2006
DOWNLOAD
Author : World Bank
language : en
Publisher: World Bank Publications
Release Date : 2006-01-01
Global Development Finance 2006 written by World Bank and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-01-01 with Banks and Banking Reform categories.
"International private capital flows to developing countries reached a record net level of $491 billion in 2005. This surge in private capital flows offers national and international policy makers a major opportunity to bolster development efforts if they can successfully meet three challenges. The first is to ensure that more countries, especially poorer ones, enhance their access to developmentally beneficial international capital through improvements in their macroeconomic performance, investment climate, and use of aid. The second is to avoid sudden capital flow reversals by redressing global imbalances through policies that recognize the growing interdependencies between developed and developing countries' financial and exchange rate relations in the determination of global financial liquidity and asset price movements. And the third is to ensure that development finance, both official and private, is managed judiciously to meet the development goals of recipient countries while promoting greater engagement with global financial markets. These are the themes and concerns of this year's edition of Global Development Finance. Vol I. Anlaysis and Statistical Appendix reviews recent trends in financial flows to developing countries. Vol II. Summary and Country Tables* includes comprehensive data for 138 countries, as well as summary data for regions and income groups."
Innovative Financing For Development
DOWNLOAD
Author : Suhas Ketkar
language : en
Publisher: World Bank Publications
Release Date : 2008-09-29
Innovative Financing For Development written by Suhas Ketkar and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-09-29 with Business & Economics categories.
Developing countries need additional, cross-border capital channeled into their private sectors to generate employment and growth, reduce poverty, and meet the other Millennium Development Goals. Innovative financing mechanisms are necessary to make this happen. 'Innovative Financing for Development' is the first book on this subject that uses a market-based approach. It compiles pioneering methods of raising development finance including securitization of future flow receivables, diaspora bonds, and GDP-indexed bonds. It also highlights the role of shadow sovereign ratings in facilitating access to international capital markets. It argues that poor countries, especially those in Sub-Saharan Africa, can potentially raise tens of billions of dollars annually through these instruments. The chapters in the book focus on the structures of the various innovative financing mechanisms, their track records and potential for tapping international capital markets, the constraints limiting their use, and policy measures that governments and international institutions can implement to alleviate these constraints.
International Capital Flows
DOWNLOAD
Author : Martin Feldstein
language : en
Publisher: University of Chicago Press
Release Date : 2007-12-01
International Capital Flows written by Martin Feldstein and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-01 with Business & Economics categories.
Recent changes in technology, along with the opening up of many regions previously closed to investment, have led to explosive growth in the international movement of capital. Flows from foreign direct investment and debt and equity financing can bring countries substantial gains by augmenting local savings and by improving technology and incentives. Investing companies acquire market access, lower cost inputs, and opportunities for profitable introductions of production methods in the countries where they invest. But, as was underscored recently by the economic and financial crises in several Asian countries, capital flows can also bring risks. Although there is no simple explanation of the currency crisis in Asia, it is clear that fixed exchange rates and chronic deficits increased the likelihood of a breakdown. Similarly, during the 1970s, the United States and other industrial countries loaned OPEC surpluses to borrowers in Latin America. But when the U.S. Federal Reserve raised interest rates to control soaring inflation, the result was a widespread debt moratorium in Latin America as many countries throughout the region struggled to pay the high interest on their foreign loans. International Capital Flows contains recent work by eminent scholars and practitioners on the experience of capital flows to Latin America, Asia, and eastern Europe. These papers discuss the role of banks, equity markets, and foreign direct investment in international capital flows, and the risks that investors and others face with these transactions. By focusing on capital flows' productivity and determinants, and the policy issues they raise, this collection is a valuable resource for economists, policymakers, and financial market participants.
Recent Experiences In Managing Capital Inflows Cross Cutting Themes And Possible Policy Framework
DOWNLOAD
Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2011-02-14
Recent Experiences In Managing Capital Inflows Cross Cutting Themes And Possible Policy Framework written by International Monetary Fund. Strategy, Policy, & Review Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-02-14 with Business & Economics categories.
Emerging markets (EMs) are experiencing a surge in capital inflows, lifting asset prices and growth prospects. While inflows are typically beneficial for receiving countries, inflow surges can carry macroeconomic and financial stability risks. This paper reviews the recent experience of EMs in dealing with capital inflows and suggests a possible framework for IMF policy advice on the spectrum of measures available to policymakers to manage inflows, including macroeconomic policies, prudential measures and capital controls. Illustrative applications of this framework suggest that it may be appropriate for several countries, based on their current circumstances, to consider prudential measures or capital controls in response to capital inflows. The suggested framework is intended to inform staff policy advice to all Fund members with open capital accounts. It forms part of a broader effort to sharpen Fund surveillance, preserve evenhandedness, and foster greater global policy coordination. As indicated in the Supplement to this paper, this broader effort includes the development of “global rules of the game” on macroprudential policies, capital account liberalization, and reserve adequacy, and the preparation of spillover reports assessing spillovers from the five systemic economies—all of which will inform the current and broader framework being developed.
The Integration Of World Capital Markets
DOWNLOAD
Author : Mr.Michael Mussa
language : en
Publisher: International Monetary Fund
Release Date : 1993-12-01
The Integration Of World Capital Markets written by Mr.Michael Mussa and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993-12-01 with Business & Economics categories.
This paper discusses the extent to which national capital markets have become linked, and identifies several of the more important consequences of that increased degree of integration. Alternative approaches to the measurement of capital market integration are reviewed, including deviations from the law of one price, differences between actual and optimally diversified portfolios, correlations between domestic investment and domestic saving, and cross-country links in consumption behavior. Two recent episodes of large-scale international capital flows—namely, the turmoil in the European Monetary System in the fall of 1992, and the surge of capital inflows into Latin America during the last three years—are examined for insights into the workings of today’s global capital market. Finally, the paper offers some concluding remarks on the future development of international capital markets, on exchange rate management, on alternative approaches to living with larger and more influential financial markets, and on the financing of investment in the formerly centrally planned economies.
Financial Openness And Capital Inflows To Emerging Markets In Search Of Robust Evidence
DOWNLOAD
Author : Diego A. Cerdeiro
language : en
Publisher: International Monetary Fund
Release Date : 2019-09-13
Financial Openness And Capital Inflows To Emerging Markets In Search Of Robust Evidence written by Diego A. Cerdeiro and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-13 with Business & Economics categories.
We reassess the connection between capital account openness and capital flows in an empirical framework that is grounded in theory and makes use of previously unexplored variation in the data. We demonstrate how our theory-consistent regressions may overcome some ubiquitous measurement problems in the literature by relying on interaction terms between financial openness and traditional push-pull factors. Within our proposed framework, we ask: what can be said robustly about the effect of capital account restrictions on capital flows? Our results warrant against over-interpreting the existing cross-country evidence as we find very few robust relationships between capital account restrictiveness and various types of capital inflows. Countries with a higher degree of financial openness are more susceptible to some, but by no means all, push and pull factors. Overall, the results are still consistent with a complex set of tradeoffs faced by policymakers, where the ability to shield the domestic economy from volatile capital flow cycles must be weighed against the sources of exogenous risks and potential long run growth effects.