@techreport{Aizenman2011Capital,
abstract = {We investigate the relationship between economic growth and lagged international capital flows, disaggregated into FDI, portfolio investment, equity investment, and shortterm debt. We follow about 100 countries during 1990-2010 when emerging markets became more integrated into the international financial system. We look at the relationship both before and after the global crisis. Our study reveals a complex and mixed picture. The relationship between growth and lagged capital flows depends on the type of flows, economic structure, and global growth patterns. We find a large and robust relationship between FDI - both inflows and outflows - and growth. The relationship between growth and equity flows is smaller and less stable. Finally, the relationship between growth and short-term debt is nil before the crisis, and negative during the crisis.},
address = {Santa Cruz, Calif.},
author = {Joshua Aizenman and Yothin Jinjarak and Donghyun Park},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {F43; F21; F32; 330; capital flows; economic growth; FDI; portfolio investment; equity investment; short-term debt; financial integration; financial crisis; Internationale Wirtschaftsbeziehungen; Kapitalmobilit\"{a}t; Direktinvestition; Portfolio-Investition; Kapitalbeteiligung; Schulden; Finanzmarktkrise; Welt},
language = {eng},
number = {692},
publisher = {Univ. of California at Santa Cruz, Dep. of Economics},
title = {Capital flows and economic growth in the era of financial integration and crisis: 1990 - 2010},
type = {Working Papers, UC Santa Cruz Economics Department},
url = {http://hdl.handle.net/10419/64494},
year = {2011}
}
