Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/2571
Authors: 
Nunnenkamp, Peter
Year of Publication: 
2001
Series/Report no.: 
Kieler Arbeitspapiere 1036
Abstract: 
Developing countries are constrained in financing current account deficits as real capital mobility is still far from perfect. At the same time, capital flows to these countries proved to be extremely volatile. The paper argues that the long-term problem of "too little" should not be confused with the short-term problem of "too volatile". The former is related to sovereign risk, which may be difficult to overcome. The latter could be kept within limits by financial restructuring towards relatively stable types of capital flows.
Subjects: 
international capital markets
developing countries
debt
equity investment
sovereign risk
volatility
JEL: 
F21
F32
G15
Document Type: 
Working Paper

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