Portfolio Investment Flows To Emerging Markets

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Portfolio Investment Flows To Emerging Markets

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Author : Sudarshan Gooptu
language : en
Publisher: World Bank Publications
Release Date : 1993

Portfolio Investment Flows To Emerging Markets written by Sudarshan Gooptu 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 1993 with categories.

International Capital Flows

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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.

Private Capital Flows To Developing Countries

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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.

International Corporate Finance Website

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Author : Laurent L. Jacque
language : en
Publisher: John Wiley & Sons
Release Date : 2014-03-24

International Corporate Finance Website written by Laurent L. Jacque and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-03-24 with Business & Economics categories.

A thorough introduction to corporate finance from a renowned professor of finance and banking As globalization redefines the field of corporate finance, international and domestic finance have become almost inseparably intertwined. It's increasingly difficult to understand what is happening in capital markets without a firm grasp of currency markets, the investment strategies of sovereign wealth funds, carry trade, and foreign exchange derivatives products. International Corporate Finance offers thorough coverage of the international monetary climate, including Islamic finance, Asian banking, and cross-border mergers and acquisitions. Additionally, the book offers keen insight on global capital markets, equity markets, and bond markets, as well as foreign exchange risk management and how to forecast exchange rates. Offers a comprehensive discussion of the current state of international corporate finance Provides simple rules and pragmatic answers to key managerial questions and issues Includes case studies and real-world decision-making situations For anyone who wants to understand how finance works in today's hyper-connected global economy, International Corporate Finance is an insightful, practical guide to this complex subject.

Recent Experiences In Managing Capital Inflows Cross Cutting Themes And Possible Policy Framework

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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 Drivers Of Capital Flows In Emerging Markets Post Global Financial Crisis

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Author : Swarnali Ahmed Hannan
language : en
Publisher: International Monetary Fund
Release Date : 2017-03-13

The Drivers Of Capital Flows In Emerging Markets Post Global Financial Crisis written by Swarnali Ahmed Hannan 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 2017-03-13 with Business & Economics categories.

Using a sample of 34 emerging markets and developing economies over the period 2009Q3-2015Q4, the paper employs a panel framework to study the determinants of capital flows, both net and gross, across a wide range of instruments. The baseline regressions are then extended to focus on high and low episodes – quarters with flows one standard deviation above/below mean. Overall, the results suggest that the capital flow slowdown witnessed in recent years is due to a combination of lower growth prospects of recipient countries and worse global risk sentiment. However, the determinants of flows can be considerably different across instruments and across the type of flows considered, net or gross. The sensitivity of certain types of flows, towards push and pull factors, increases during periods of high and low capital flows. Moreover, some variables may not necessarily be significant during normal times, but can be important drivers during such episodes, and vice versa. Indicators like the gap between the U.S. long- and short-term maturity bond yields – not significant during normal times – can be an important driver during high episodes.

Changing Times For Frontier Markets

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Author : Nordine Abidi
language : en
Publisher: International Monetary Fund
Release Date : 2016-08-23

Changing Times For Frontier Markets written by Nordine Abidi 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 2016-08-23 with Business & Economics categories.

This paper investigates to what extent low-income developing countries (LIDCs) characterized as frontier markets (FMs) have begun to be subject to capital flows dynamics typically associated with emerging markets (EMs). Using a sample of developing countries covering the period 2000–14, we show that: (i) average annual portfolio flows to FMs as a share of GDP outstripped those to EMs by about 0.6 percentage points of GDP; (ii) during years of heightened stress in global financial markets, portfolio flows to FMs dried up like those to EMs; and that (iii) FMs have become more integrated into international financial markets. Our findings confirm that, in terms of portfolio flows, FMs have become more similar to EMs than to the rest of LIDCs and are therefore more vulnerable to swings in global financial markets conditions. Accordingly, it is important to have in place frameworks to strengthen FMs’ resilience to adverse capital flows shocks.

Are Portfolio Flows To Emerging Markets Complementary Or Competitive

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Author : Sudarshan Gooptu
language : en
Publisher:
Release Date : 1994

Are Portfolio Flows To Emerging Markets Complementary Or Competitive written by Sudarshan Gooptu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Capital investments categories.

Are Portfolio Flows To Emerging Markets Complementary Or Competitive

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Author : Shanti Jagannathan
language : en
Publisher:
Release Date : 2017

Are Portfolio Flows To Emerging Markets Complementary Or Competitive written by Shanti Jagannathan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.

Increasing portfolio investment flows to emerging markets in the past few years have led to fears of a sudden reversal of these flows and possible portfolio switching (from one emerging market to another) among foreign investors. To assess the sustainability of such portfolio flows, the author examines econometrically whether portfolio investment flows to one region in the developing world are significantly related to those going to another region. This question has important policy implications for policymakers in developing countries who, in considering domestic policy reforms to attract foreign portfolio investment, want to ascertain whether financial flows from abroad are coming from an increasing pool of investible resources in the industrial world or whether they represent the same funds chasing different high-yield securities as emerging markets change. In other words, does a sort of quot;adding-upquot; constraint apply to these flows - do they function as substitutes or not? Or could these flows be complementary? The author analyzes new quarterly World Bank data on gross portfolio investment flows for eight emerging markets (India, Indonesia, Korea, Thailand, Argentina, Brazil, Chile and Mexico) for the period from the first quarter of 1989 to the second quarter of 1993. Results indicate an inverse relationship between total portfolio flows to emerging Asian stock markets and those to Latin America. This negative relationship holds for both debt portfolio flows and equity portfolio flows. There has been a surge of portfolio flows to developing countries in the 1990s, but developing countries must compete for those flows. In the long term, portfolio flows to well-performing countries will be sustained because of improved creditworthiness and proportionately greater investor interest. Increasing the pace of reform in an emerging stock market is essential for sustaining portfolio flows.

Foreign Portfolio Investment In Emerging Markets

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Author : Bernhard Fischer
language : en
Publisher:
Release Date : 1995

Foreign Portfolio Investment In Emerging Markets written by Bernhard Fischer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Capital market categories.